(PRWEB) March 31, 2011
Investment in a broad range of litigation management programs and initiatives yields nearly 175% annualized return, according to a national litigation management study released today by Revere Advisory, Inc. In addition, nearly 70 percent of CEOs have specifically discussed the effectiveness of their organization’s litigation management program. This high-level attention on litigation management is in turn driving an expanded interest in metrics and analytics that allow for clearer measurement of litigation management effectiveness. The study, commissioned by the Council on Litigation Management (CLM), is believed to be the largest of its kind to date. Executives from 47 organizations, representing a broad cross-section of the litigation industry, participated.
As litigation program effectiveness becomes a more visible issue, executives are seeking better metrics that help to define program success. Executives identified that they rely on, or struggle to identify, metrics in five primary categories: inventory, cycle time, cost, quality and predictability. According to the study, 74 percent of the executives surveyed rate the quality of their metrics as “fair” or worse. The study also reflected that 83 percent of those companies that rank their metrics as “effective” are managing $75 million or less in litigation costs.
Using a comprehensive survey tool created with the assistance of an Advisory Board of esteemed litigation professionals, the Study explored a broad range of topics, including staffing of litigation management functions, law firm relationships, and future trends and influences on the industry. To receive a copy of the Study’s full Report, or to schedule a conversation with Revere Advisory about the Study, please write to report(at)revereadvisory(dot)com.
About Revere Advisory
Revere Advisory provides its expertise and services in a concentrated area – at the intersection of litigation management, corporations, law firms and claims organizations. The Company brings its expertise to bear in three distinct divisions: Market Intelligence, Consulting & Advisory and Talent Acquisition. Each division provides distinct services that improve the strategic direction and tactical operations of litigation management operations across the industry.
Contact: Jeff Scarpitti, Esq.
TEL.: (610) 444-8005
Contact: Taylor Smith
TEL.: (224) 212-0134
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