Brightflag Product Update: Vendor Performance Reporting
Rating the value of outside counsel services requires much more than just reviewing time and cost. Concrete factors like hours billed and rates charged must be balanced against subtler considerations like advice quality and collaboration style.
The latter category nearly always comes up in conversation among in-house legal teams, yet it very rarely gets captured in quantified reports. That’s where we can help.
Our latest reporting features make it easy to build an objective perspective of qualitative performance and assess value more holistically as a result.
What’s new in Brightflag
Thanks to our latest product update, in-house legal teams can now easily:
- Collect quantified feedback on:
- Quality of work
- Business alignment
- Budget management
- Quality of communication
- Future recommendation (NPS score)
- Conduct more holistic performance evaluations
- Make more sophisticated benchmark comparisons
The five criteria were selected based on both customer interviews and industry research.
How to use the new tools
The solution begins with a simple, standardized survey. (Simple to encourage consistent use, standardized to ensure valid benchmarking.)
Internal matter leads will now be automatically prompted to complete the new vendor performance survey when closing a matter in Brightflag. They can also choose to proactively complete the survey at more frequent intervals. (That flexibility will be most useful when managing matters likely to remain open for a year or more.)
Survey responses are immediately reflected in reporting dashboards and ready for strategic analysis. Admin users can select and compare multiple vendors across one or more qualitative performance criteria. For example, maybe you’d like to visualize the relative strengths and weaknesses of all the firms supporting a certain practice area.
These new qualitative performance indicators can also be cross-referenced with more traditional quantitative metrics. If two similarly specialized firms offer nearly identical service quality, for example, consider analyzing their blended hourly rates as well. A clear gap between the two on that report might reveal a potential cost-saving opportunity.
Want to learn more?
If you’re eager to explore all the ways smarter reporting could transform your outside counsel relationships, contact us for a personalized demo.