How managing risk can improve outcomes

Inefficiencies steal time, add costs, sap energy, slow processes and demotivate talent. They also create risk. Reducing this risk for in-house legal departments and your wider business can be a positive force, creating real advantages through more productive and streamlined ways of working. We can combine your data with ours and, together with market intelligence, use AI tools to identify problems and opportunities that otherwise couldn’t be spotted.

When legal data is centralized, codified and organized, it becomes possible to manage obligations, identify trends, anticipate upcoming or unseen issues and increase efficiencies. Legal departments (can) act with more certainty, achieve efficiencies and remove barriers to progress and future development.

A quienes hemos ayudado

"Light years ahead" control for a Brazilian investment banking, wealth management and asset management corporation

The problem

With over $1 billion in annual revenues, our client wanted more transparency and control in how their legal spend was allocated across the relevant areas of their business. The client also needed live information delivered weekly to company directors regarding their total legal spend.

The resolution

We implemented weekly trend charts for the client portfolio and quarterly fees billed, together with matter dashboards ‎for significant matters. The clarity and speed of publishing this information have enabled the client to track activity on all matters, and guarantees that they can see, at a glance, the extent and focus of their legal spend across their portfolio.

The impact

Our client receives continuous real-time updates on where we are against budget to bring transparency and control to their overall legal expenditure. The client’s lead counsel described Reed Smith’s legal project management system and support as “light years ahead of our competitors.”

Speedy litigation results for a large pharmaceutical client

The problem

One of our large pharmaceutical clients has a business objective of resolving litigation matters as quickly as possible. As well as speed, they also wanted clear reporting on legal fees and other costs.

The resolution

After working closely with our client, we clearly saw they needed not only a structured, client-specific fixed fee arrangement but also our legal project management team to provide frequent, task-based reporting to ensure matters stayed on track.

The impact

This resulted in significant savings in time and money. And because our client continues to increase the volume of work given to us, we revisit the fee arrangement yearly to ensure that it continues to provide benefits and any associated risks are reduced.

Nuestros productos tecnológicos

For decades, Reed Smith has represented clients like you, helping advance their businesses.