Last week, LLM, Inc. offered the free webinar “Better Budgeting Analysis, Better Predictability.” Hosted by LLM’s VP of Technology, Lindsay Stevens, the esteemed panel included Vince Cordo, Global Sourcing Officer for Shell, and Paul Meyer, Managing Counsel E-Discovery for Willis Towers Watson. Ahead are some highlights, plus a few slides for your enrichment.

Currently, the chief legal officer, general counsel and team are not simply expected to practice law, they must also adapt to address a variety of different needs, which include budgeting — an essential component of effective project management. And this doesn’t just affect the corporate side; the ripple effect is felt by outside counsel and vendors, too.

In order to create a sound business plan, counsel must take budget information, historical data, comparative data and leverage them.  Whether company or firm, everyone likes profit predictability.

Technology not only plays a central role in cost-saving automation and integration, it also delivers insight into budgets and facilitates their effective management. Communication and collaboration increase. Plus, it helps both client and firm be more proactive in their respective and shared budget goals.

In short, as expressed in the webinar by Vince Cordo, “We’re at a point in the industry when you gotta be able to do this.” Counsel needs to hone his or her budgeting and analysis skills now.

To listen to a free recording of this webinar, click here.

Slides from the presentation