As GCs are experiencing increased demand from the business, we are always looking for ways to help them deliver more with less. The first step is to look at the advantages of a new and better way of working, rather than just the risks. This change in mindset opens a whole new world of delivering core and non-core models, often resulting in embedding more efficient operating models. Incorporating managed legal services into your operating model brings seven benefits namely:
MLS providers have the tools and experience necessary deliver a quality service. Many have quality management systems in place and invest in project management, process improvement and technology, which many in-house legal teams consider non-core.
Outsourcing and offshoring keeps legal department structural costs lower. For listed companies, this means improved Revenue per Employee ratios.
MLS providers make your legal resources more efficient. They reduce legal waste by using Lean Six Sigma principles and they free up your legal team’s time, allowing them to focus on strategic and complex legal matters.
MLS providers can scale far quicker than in-house legal teams. They will structure services in such a way that your baseline level of legal work is always covered, but can easily scale-up for peak contracting periods or other legal projects that may arise during the year. When these peaks pass or the projects are completed, the team can simply be scaled down again to cover the baseline.
Effective End-to-End Delivery
They offer end-to-end services, meaning that they handle the entire contracting process for certain contract types from start to finish. Keeping the entire process under one roof reduces costs and complexity. Dashboards allow GCs to keep track of agreed performance metrics.
Experienced MLS providers fill in vital knowledge gaps for certain industry contracting types, especially where contract volumes and industry standardisation make using an outsourced industry-specific solution far more efficient than building one in-house.
Predictability of Cost & Outcomes
One advantage of managed legal services is that you’ll know exactly what you should set aside in your budget for the entire process. In addition to cost certainty, agreed performance metrics drive predictability in terms of turn-around times and outcomes.