For general counsel who care about key metrics, two tools are essential: matter management software (MMS) and comparative benchmark data. The software provides current and usable data on outside counsel spending, for example, and can help a general counsel manage not only expenses, but also workload. The data obtained from benchmark studies enable a general counsel to spot opportunities to improve and to convey the value of the department to other executives using their lingua franca, numbers.
In this column, I speculate on the degree of overlap between MMS-using departments and benchmark participants. I start with estimates of the "user base" of both and close with some implications. I welcome clarifications and further information on this topic.