We are skilled in data mining, quantitative analysis, modeling and producing actionable business intelligence. We have a successful track record in marshalling the data in e-billing and timekeeping systems, and other sources to support data-driven and fact-based decision making. Our clients report significant positive returns on investment in our services resulting in:
- Improved realization in fixed fee transactional work
- Turnarounds of unprofitable matters
- Identification of areas for measurable improvement in the efficiency of e-discovery, due diligence, and other areas
- Identification of areas for corporate legal spend management, including alternative staffing and sourcing models
- Models for bidding in reverse auctions
- Metrics for matter and portfolio management
The Crisis in Codes and the Taxonomy of Legal Work
The standard for capturing the cost of legal work is known as UTBMS, adopted nearly 20 years ago, as shown on this infographic. With the proliferation of e-billing systems and efforts to control the cost of legal work, significant data has been generated, particularly from the Litigation Code set. In the past 5 years, law firms and legal departments have expressed significant dissatisfaction with both the structure and the quality of the data. Faced with unsuccessful attempts to extract meaningful information many have developed their own custom codes.
Law Taxonomy Standards
Aileen is supporting this initiative, launched by Toby Brown and Adam Stock, that is seeking to develop a framework for classification of legal work by area of law and matter type. This approach takes a top-down view (“single plaintiff employment litigation) unlike the code system which takes a bottom-up approach (complaint filed; motion to dismiss; discovery; settlement discussions; prep for trial, etc). Aileen will focus on governance and stakeholder analysis so that all constituencies are represented in developing the standards.
Aileen Leventon is playing a leadership role in addressing these issues. She is bringing together stakeholders with an interest in standards required to provide insight on the cost, price, value and taxonomy of legal work.
ABA Task Force on Legal Project Management in M&A Transactions – M&A Phase Codes adopted by LEDES Oversight Committee
As a former M&A lawyer and as project manager of the Task Force on Legal Project Management, established in 2012 by the ABA Business Law Section M&A Committee (the “Task Force”), Aileen and and a group of committed lawyers from law firms and corporate legal departments formulated new M&A codes. They are designed for ease of adoption by busy practitioners to provide a source of data to promote effective budgeting, communication about staffing, roles and responsibilities, work to be done, and deal objectives. Law firms and law departments that provided input in the design of the codes report that they are already using the codes to capture data for more reliable budgeting and pricing of M&A work. Some have expanded the phase-based approach to other areas of law practice as well. Using Legal Project Management in M&A: A Guidebook for Managing Deals Efficiently and Effectively, an ABA publication containing checklists and commentary to support efficiency in the execution of M&A transactions, will also present the new codes when it is released in the Spring of 2016. Aileen is working with the LEDES Oversight Committee to set standards for e-billing technology and outside counsel guidelines. As a result, of consolidation in the endor community, this group is facing governance and membership issues. Please contact us to learn more.
ABA Law Practice Division Committee on Legal Project Management
Aileen is leading an initiative that is addressing the current state of codes, e-billing, and capturing data on legal work. Please contact us if you wish to participate.
Streamlined Legal Industry Codes for Data Collection for M&A Work- M&A phase codes [Click here for more information]
Browse Perspectives for more information.