Corporate Counsel To Candidly Evaluate Law Firms Using Value Index
The Association of Corporate Counsel Launches ACC Value Index, a Client Satisfaction Measurement Tool for In-house Counsel
Posted: Oct 15, 2009
Washington, D.C. — The Association of Corporate Counsel (ACC) will launch the ACC Value Index, a component of the ACC Value Challenge, at its 2009 Annual Meeting in Boston on Tuesday, October 20, 2009 at the Hynes Convention Center. In these challenging times, law firms are increasingly under pressure to reduce costs while still performing at the level clients have come to expect, and in-house counsel are under equal scrutiny to monitor costs. The ACC Value Index will allow members of ACC to share ratings of law firms based on client satisfaction so that they can better meet company demands. Details for the launch of the ACC Value Index are as follows:
The ACC Value Challenge provides resources to help both law departments and firms meet their unique challenges related to billing arrangements. Now, ACC is taking the next step in the Value Challenge, by introducing the ACC Value Index - a client satisfaction measurement tool where members share evaluations of the law firms they engage. It is also an instrument to help shape the thinking and dialogue between firms and in-house counsel about what constitutes “good value” in legal services. Using a five-point scale (1=Poor, 5=Excellent), members score their outside counsel on the following criteria --understanding objectives/expectations, legal expertise, efficiency/process management, responsiveness/ communication, predictable cost/budgeting skills and results delivered/execution. They also answer the important question: would you hire this firm again? Members will be able to browse or search the ACC Value Index based on firm name, matter type or office location.
About the ACC Value Challenge