Get twice the legal services for half the cost. Who can deliver that?
No law firm can.
No legal department can.
No technology solution can.
So now what?
Re-think the way legal services are delivered.
Welcome to the Un-Firm of the Future.
What is the Factor Four Challenge?
Our societies are getting larger and more complex. Companies' risks grow exponentially. So their need for legal services will continue to rise fast. And yet their costs must be contained or they eat up hard-earned profits.
Companies know that they need to do more in the way they procure legal services. Hiring even more in-house lawyers or demanding more discounts from law firms doesn't produce the efficiency gains that are necessary in the future.
We all have a hunch that the legal services can be delivered much more efficiently. The right mix of people, processes and technologies can make a massive difference. How much? Let's say by 400% - by the Factor Four. It has been done in many other areas*, so why not in legal services?
Such a shift enables a company to receive twice the legal services at half the cost. That creates much room for growth and better legal coverage while improving profits, too.
That's the challenge. Let's meet it.
* Factor Four is borrowed from the 1995 Report to the Club Rome titled "Factor Four - Doubling Wealth, Halving Resource Use" which highlighted many examples of emerging practices, solutions and technologies that were four or more times more efficient. Many of them have since become commonplace.