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Bodhala CEO Raj Goyle Speaks with Rhys Dipshan of LegalTech News


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. [...]

Bodhala CEO Raj Goyle Sits Down With Above The Law


Joe Borstein recently interviewed Raj Goyle at Above the Law about Bodhala and the evolving legal space.  Here is an excerpt: A complete lack of data hurts the legal profession and the market. Bodhala has used data in innovative ways –saving a client $1.2M per year by allocating its spend more efficiently, helping a major [...]

The Emperor Has No Clothes – There Has Never Been A Better Time For Innovative Law Firms To Poach Work From the Elite Firms


There has never been a better time for challenger law firms to take business from the most elite law firms. In talking to law firm leaders in the AmLaw 200, we find they often think that there is a slice of the market that does not feel competitive pressure.  This slice does not exist anymore. [...]

“It’s The Firms’ Fault”: GCs, You Can No Longer Rely on This Excuse For The Lack of Diversity In Your Outside Counsel


Law firms remain painfully not diverse at the most senior levels, as we have discussed in a prior post. Despite decades of bar association statements, this pitiful state of affairs remains.  No one - whether in-house or outside counsel - has taken ownership to drive change, and consequently law has remained the the least diverse [...]

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


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 [...]

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


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?


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 [...]

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


“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


“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 [...]