Bloomberg BNA’s Corporate Law & Accountability Report is available on the Corporate Law Resource Center. This news service keeps corporate practitioners informed of legal developments of...
May 19 — The Association of Corporate Counsel May 19 recognized 12 companies for using strategic approaches to bolster the value of their legal services spending while reducing costs.
The 2015 “ACC Value Champions” include 3M, which managed to cut legal costs by almost 70 percent by working with contract attorneys to conduct document review for large cases instead of outsourcing the work to law firms.
Also honored was AIG, whose creation of a global operations center for enterprise legal needs generated more than $200 million in cost savings in 2014 alone.
“Each of the 2015 ACC Value Champions applied a deliberate mix of legal operations tactics and called on employees to be involved in strategic decisions about resource allocation, outside counsel management and internal processes,” ACC President and Chief Executive Officer Veta T. Richardson said in a release. “In many cases, the winning nominees partnered with law firms and legal service providers to turn challenging projects into opportunities for savings and better legal service.”
AIG General Counsel and Executive Vice President Thomas A. Russo said in a statement that the company is “very proud” of its legal operations center. “AIG’s Legal Operations Center has demonstrated that, by leveraging data, process innovations and strategic partnerships, it’s possible to both greatly enhance value in legal services and consistently obtain the best legal outcomes,” he said.
The winners were selected from a group of 80 nominees by a panel of in-house counsel judges. The other 10 ACC champions were:
• Bendigo and Adelaide Bank;
• BMO Financial Group;
• FedEx Ground Package System;
• Fireman's Fund Insurance Co. with Novus Law;
• Juniper Networks;
• SSM Health;
• Heico Cos. with Shook, Hardy & Bacon;
• Xcel Energy; and
• Yazaki North America.
The ACC's release is available at http://www.acc.com/aboutacc/newsroom/pressreleases/acc2015valuechampions.cfm.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)