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Profit from panel firm management – a case study

Written for Practical Law Global by Lisa Hart Shepherd, CEO of Acritas

"A long-term relationship based on trust that is both time and cost efficient". If this is the way you would describe the foundation of your panel firm management programme, that's great news.

If instead you are a member of the majority for whom panel management is more discord than harmony, you may find inspiration in an innovative approach adopted by Pfizer and their law firm advisers.

The Pfizer Legal Alliance was born of necessity. Prior to its inception, 80 law firms managed 75% of Pfizer's legal work overall and a few hundred covered the other 25% of legal work globally. The relationships were largely based on the billable hour model which Pfizer found to promote inefficiency, breed mistrust and foster service that was too focused on achieving short-term objectives. Read more.

To achieve the best results, build a good working relationship (Part 2)

Written for Practical Law Global by Donald Hamilton, Chuck Barker and Simon Maple, CMI Concord Group

In the last blog, we defined the "working relationship" as the ability of parties to deal well with each other, as distinct from the substantive issues identified that the measure of overall success was that the parties dealt with each other with mutual:

  • Authenticity.
  • Emotional balance.
  • Respect.
  • Trust.
  • Openness.

In that blog we looked at authenticity and emotional balance. This month, we will look at the other three: respect, trust and openness.

Respect means treating the other party and their ideas with respect. If someone's view does not correspond to your own, it is easy to regard them as troublesome, unreasonable, or even stupid... Read more.

 

Auditing contracts

Written for Practical Law Global by Tim Cummins, CEO of IACCM

Government procurement policies have often influenced private sector trends and practices. Last week, I encountered another innovation which, if it spreads, would have significant impact on those responsible for contracting.

I attended a conference where a senior Government auditor presented on emerging plans for future audits of contracts and contract management. He emphasised the growing focus in this area (something evident in a range of countries) as public sector agencies become more vigilant in their elimination of waste and in their efforts to improve the success of their projects and expenditure.

The auditor explained that there will be four areas on which future checks will concentrate... Read more.

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