Boston, MA (PRWEB) January 29, 2013
Bloomberg Law News recently featured Argopoint’s Jason Winmill on innovative new methods that some major companies are employing to drive efficiency in their corporate legal departments. “Legal Procurement: Sourcing is a Team Sport” features perspectives from Jason Winmill, a twenty-year management consulting veteran and founder of Argopoint LLC, a consulting firm that advises in-house legal departments.
“Fortune 500 legal departments and the procurement (sourcing) groups that support them have an array of proven approaches to improve the effectiveness and efficiency of outside counsel, especially considering the high degree of spending and lack of transparency that is often common,” noted Winmill. “It takes expertise and focus – but costs can be better managed – for the benefit of the legal department and the entire corporation.”
The Bloomberg article highlights approaches of Fortune 500 legal departments, which report being able to significantly reduce outside legal costs. “Three years of cost-cutting has created a new dynamic in the relationship between law firms and their clients,” found a financial Times research report “A New Dawn: Lessons for Law Firm Management in the Post-crisis World.”
Also cited by the Bloomberg article is the success of GlaxoSmithKline(GSK), “In the nearly four years since GSK looked to revamp the way it hires and pays for outside legal services, the pharmaceutical giant has saved tens of millions of dollars in legal fees,” according to The Legal Intelligencer.
About Argopoint LLC: Argopoint advises and supports Fortune 500 corporate clients with an array of legal management consulting services, providing overall sourcing strategy, enabling processes and tools, and supporting implementation. Corporate legal cost-savings initiatives that were designed by Argopoint were featured in publications such as The Wall St. Journal, Bloomberg News, New York Law Journal, Financial Times, American Lawyer, Inside Counsel Magazine, CBS News MoneyWatch, and Law.com.