Steps to Savings
Typical Cost Reduction Efforts
Traditional methods of reducing legal fees and expenses included decreasing the use of outside counsel, employing e-billing software without implementing a system of bill review, or attempts to negotiate reduced hourly rates. However, these methods fail to address the critical issues that lead to excessive legal costs.
The Proven Path to Legal Cost Reduction
Sterling Analytics has developed a system, known as The Sterling Solution, to reduce legal costs without adjusting attorneys’ hourly rates. First, our trained analysts conduct an audit to compare your past legal bills against the industry’s best practices and recognized ethical standards. Once the results are analyzed, a client-specific strategy for cost controls is implemented.
We work closely with you to build a consensus around an appropriate plan for change. We utilize multiple cost-reduction strategies that have proven to be effective for other clients. Once the plan is finalized, our team will guide you through the implementation phase and handle many of the required tasks.
Sterling Analytics has the resources available to develop or overhaul outside counsel billing guidelines, assist with the installation of e-billing software, and run RFPs that have proven to be most effective at reducing legal costs. We can also negotiate with law firms to obtain voluntary reductions or reimbursements of improper charges. Most firms cooperate with our process because it is transparent, fair and independent.
Most companies can reduce outside legal costs by up to 20%, without having to reduce law firm rates. Through in-depth auditing services, coupled with billing agreements that represent the highest legal and ethical standards, Sterling Analytics encourages firms to correct improper billing practices.
To learn how your company is overpaying for legal services, please contact us.