The ACC Value Index and Value Challenge Model

Further to our post on the Association of Corporate Counsel's Value Challenge, here's a nod to Discovery Resources recent discussion regarding the tipping point for the value challenge.

The upshot is that as part of the Value Challenge, the ACC offers their Value Index, a forum for Corporate Counsel to rate law firms in terms their cost control and cost predictability, resulting in the Value Index.

And the index seems to be supporting Counsels' demand for value realignment.

As the ACC's original Value Challenge notes:

"According to a recent issue of the California Bar Journal, a survey by the Corporate Executive Board found that “while non‐law firm costs increased by 20 percent over the past 10 years, large law firms’ prices jumped almost 75 percent in the same period.” These numbers confirm the disconnect most if not all of us have been feeling."

To even further support Counsels' overall discussions with Law Firms, the ACC commissioned the Value Challenge Model, an interactive spreadsheet that allows users to test how changes in a law firms use of partners, associates, rates, and overhead may affect efficiency and profitability.

It's definitely worth giving a look.