Reducing law department spending and forecasting yearly legal costs are big jobs for general counsel, who traditionally have been tasked with managing company risk, not modeling department finances. Yet lately the pressure has been on to account for legal’s bottom line.
This isn’t just a matter of trimming the budget. More and more, GCs are being asked to be predictive when making their budgets, says Jeffrey Schuett, vice president and managing director for Corporate Counsel Solutions at LexisNexis (a business partner of ALM, Texas Lawyer ‘s parent company).
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