Legal indicators: which ones to use and how to optimize
Legal indicators provide valuable information for assessing the department’s efficiency, productivity, and profitability, as well as helping with strategic decision-making. Below, we’ll look at the most important metrics for this area and what you can do to optimize performance.
Which legal indicators to use?
Legal indicators should be chosen based on clear gambling data singapore criteria and be related to the goals and objectives of the department and the company. The metrics most frequently used in the sector can be divided into three categories:
Strategic indicators
These metrics cover aspects that directly influence the strategic objectives of the department and the business as a whole:
total active contracts;
number of active processes;
success rate in legal proceedings;
average time to resolve processes;
customer satisfaction;
level of regulatory compliance;
success rate;
average time to resolve legal disputes;
Financial Indicators
These metrics focus on the legal department's influence on the financial health of the business:
cost per process;
income per lawyer;
average cost per judicial and/or extrajudicial process;
credit recovery rate;
loss avoided by legal action in contracts and/or legal proceedings.
Performance indicators
These metrics are related to the work routine and the department's productivity level:
hours worked;
average time to respond to legal queries;
on-time project completion rate
How to optimize legal indicators?
Improving legal indicators requires the adoption of a continuous improvement cycle that allows for the identification and correction of recurring failures. The most basic actions to achieve this objective include:
have clear internal policies to prevent legal risks;
strengthen legal compliance to comply with applicable laws and regulations;
carry out regular internal audits;
invest in technology to make analyses faster and more accurate.
Obviously, all this work must be coordinated with the support of specialized professionals. However, it is not always feasible to have your own team to carry it out, which is why many companies resort to outsourcing to reduce legal department costs.
Want to better understand the benefits of this model? Learn about Legal as a Service from Camargo e Vieira and find out how to have customized legal management solutions for your company.
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