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Bodhala CEO Raj Goyle Speaks with Rhys Dipshan of LegalTech News

2017-09-22T20:34:31+00:00

Raj Goyle recently spoke with LegalTech News about data and AI in the shifting legal sphere. Attorneys have turned to artificial intelligence to reduce costs in tasks like e-discovery, contracts and due diligence. But more recently, AI has been getting to the heart of the matter, fueling legal spend analytics platforms that help law firms and legal departments better understand and change their spend habits. [...]

Glaciers Melt More Quickly Than Law Firms Get More Diverse

2017-02-27T15:51:28+00:00

As numerous outlets have reported, law is the least diverse profession in the United States.  Indeed, the problem is even more glaring at the highest levels of the profession.  Women account for only 17 percent of equity partners at firms, and only seven of the nation’s 100 largest firms have a woman as chairman or [...]

A Lesson From GE: You Can Get Fired for Sticking With That White Shoe Law Firm

2017-02-21T22:40:42+00:00

The legal profession historically had some of the most inelastic economics of any business in the world. People liked to stick with what they knew, even though what’s on the other side of the fence might have actually been greener, or just as green. Clinging to a false sense of security, when prices went up, people [...]

99% of Legal Departments Are Investing In Data Analytics. Are You?

2017-02-24T20:14:05+00:00

As we have written, data is essential to managing a legal department, raising the stakes for legal departments that have fallen behind.   In 2017, the stakes have never been higher. According to a recent survey, 99% of legal practitioners noted that data analytics will be “indispensable” for legal departments over the next ten years.  [...]

Rate Card Theater: What Law Firms have Learned from Macy’s

2017-02-10T22:00:37+00:00

While sophisticated consumers of legal services would not equate purchasing legal services from top law firms with shopping at Macy’s and Marshall's, law firms are increasingly relying on a prized tactic of retailers: “retail theatre.” As most savvy shoppers know, retailers often give an item a very high “list price,” and then provide steep discounts [...]

Law Firm Discounts: If Everyone Gets One, Do they Really Exist?

2017-02-10T21:20:35+00:00

As we previously discussed, the changing business model of law has focused attention on certain key metrics that capture the economic pressures that legal providers face.  Now, we turn our attention to a metric -- discounts on law firm rates -- that is misleading as a signal of legal department efficiency.   Prior to the rise [...]

Show. Me. The. DATA! – If You’re a GC and Don’t Have Real Data, Time to Get a New Job

2017-02-07T22:36:13+00:00

In speaking to legal departments, a common theme is fear of falling behind as innovators in legal department management -- from General Electric to Google to the legal operations innovators at CLOC -- come up with creative approaches to demonstrate data-driven approaches to legal spend.  Specifically, the features of the new legal landscape pressuring legal [...]

The Data-Driven Chief Justice: Rehnquist As The First Legal Operations Thinker

2017-01-28T13:19:32+00:00

“It is apparently common in some major New York firms to expect associates to bill in excess of two thousand hours per year, and the ratio of associates to partners in some law firms is increasing sharply” “Institutional loyalty appears to be in decline.  Partners in law firms have become increasingly “mobile,” feeling much freer [...]

The New Normal: Elite Clients Require Their Elite Law Firms To Compete

2017-01-28T13:23:23+00:00

“It was a growth story in the 1990s, but since 2008, it’s a more competitive world where there is less growth,” Jeffrey Hammes, Kirkland & Ellis “Law firms today must make a persuasive case for their retention. [The] new reality is marked by hypercompetition and bears little resemblance to the world even five to 10 [...]