Optimize Your External Legal Spend with Juro's Tracker

As a general counsel, you know how important it is to manage your external legal spend effectively. But with so many law firms and vendors to deal with, it can be a challenge to keep track of your spending and ensure you're getting the best value for your money. That's where Juro's External Legal Spend Tracker comes in. In this article, we'll explore the benefits of using a tracker like Juro's and how it can help you optimize your external legal spend.

What is External Legal Spend?

External legal spend refers to the money your organization spends on outside legal services, such as law firms, consultants, and other vendors. This can include everything from routine legal work to complex litigation. Effective management of external legal spend is crucial for any organization, as it can have a significant impact on your bottom line.

Why is External Legal Spend Important?

External legal spend is important for several reasons:

• It can be a significant expense for your organization. According to a recent survey, the average law firm spends over $1 million per year on external legal services.
• It can be difficult to track and manage. With multiple law firms and vendors to deal with, it can be challenging to keep track of your spending and ensure you're getting the best value for your money.
• It can be a risk to your organization. If you're not managing your external legal spend effectively, you may be exposing your organization to unnecessary risk.

How Can You Optimize Your External Legal Spend?

There are several ways to optimize your external legal spend:

• Use a tracker like Juro's. Juro's External Legal Spend Tracker is a powerful tool that can help you track and manage your spending, identify areas for improvement, and make data-driven decisions.
• Negotiate better rates. By negotiating better rates with your law firms and vendors, you can reduce your external legal spend and save money.
• Reduce the number of law firms and vendors. By reducing the number of law firms and vendors you work with, you can simplify your legal operations and reduce your external legal spend.
• Use technology to streamline your legal operations. By using technology to streamline your legal operations, you can reduce the time and effort required to manage your external legal spend.

Conclusion

In conclusion, effective management of external legal spend is crucial for any organization. By using a tracker like Juro's, negotiating better rates, reducing the number of law firms and vendors, and using technology to streamline your legal operations, you can optimize your external legal spend and save money.