While many large firms are putting resources into pricing analysis, a recent survey found that corporate clients seem to think the information they receive is not all that useful.
In a survey released last week, consulting firm Altman Weil asked chief legal officers whether their top 10 law firms provide useful spend analysis to the law department. Of those surveyed, 73 percent of CLOs said none of their top firms provide useful data. Another 7.7 percent said only one of their top 10 firms provide it, and 9.3 percent said two of their top firms provide it. Only 1.7 percent of CLOs surveyed said all of their top 10 outside law firms provide useful spending data analysis.
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