Hello, my name is Rob Mattern and I am the President of Mattern LLC. Welcome to the Fall 2018 edition of Mattern Matters.
Cost Recovery is Alive and Kicking
As the 2018 year-end comes into view, law firms tend to renew their focus on the bottom line. Mattern works with firms to improve their bottom line via several methods: process improvements to drive efficiencies, cost savings via contract renegotiation, and improved (or new streams) of cost recovery where applicable. As the recently released results of Mattern’s 2018 Cost Recovery Survey demonstrate, soft cost recovery is still very much alive with a levelling off in the decrease in net realization for most disbursements. Additionally, newer streams of recovery (e.g., client-specific data storage, network print, etc.) gained traction to help firms align a sustainable strategy moving forward where costs continue to rise. A recent The American Lawyer article, “Want Clients to Pay for Expenses? Try Asking Them,” further discusses the Survey results.
Driving Firms Forward
Mattern continues to work heavily in the area of outsourced back-office services and output equipment. Outside of labor and IT spend, these areas continue to be some of the largest expenditures facing firms. Process improvements that allow for quality service delivery with less labor, coupled with current market rates for labor and equipment allow firms to control costs in this space. A competitive RFP process drives compelling results while ensuring quality service via well-defined SLAs and scorecards. As well, equipment platforms now allow for much more than copy, as print workflow technologies to reduce waste and advanced imaging capabilities (e.g., scanning directly to firm systems) gain prevalence in the latest refreshes Mattern managed. Want to know more? Check out how Mattern assisted Orrick improve outsourcing, multi-functional equipment, administrative resource center (ARC) and document processing agreements.
In the realm of cost recovery, any gain in net realization results in dollars falling directly to the bottom line. Mattern worked with a number of firms to align day-forward cost recovery strategies by adding new streams such as print and scan. In some cases, this was by adding technology to an existing footprint while gaining key stakeholder buy-in, or in others by helping firms procure new cost recovery systems that also allow for advanced electronic workflows in support of information governance initiatives. Additionally, Mattern works with firms to introduce sustainable models in support of litigation support recovery, where antiquated hourly models do not account for the explosion in E-Discovery-related data storage. Included in this edition of Mattern Matters, is a case study that depicts just this, “Mattern Assists an Am Law 200 Firm Create New Cost Recovery Model to Recoup Charges for Litigation Support Solution.”
GDPR takes the Information Governance Wheel
Finally, Mattern has seen an uptick in firms addressing their overall information governance needs. In “Is GDPR a Hidden Information Governance Opportunity?” we take a look into firms increased willingness to tackle their workflow issues related to the securing and maintaining of both electronic and physical (paper) records. Mattern assisted several firms with the shift to an electronic-first mindset, aligning technology platforms to retain electronic information per policy, while implementing retention schedules for the purging of information regardless of form or location. This allows firms to cut down on the future use of paper and draw down on offsite holdings in a cost-effective manner.
There are a number of ways firms can improve their bottom line. Firms look to Mattern as an unbiased industry leader in law firm back office and middle office operations to drive these efficiencies and related savings. Find out how we can help your firm achieve its goals in the new year.
Welcome Nathan Curtis!
Lastly, I would like to welcome Nathan Curtis to the Mattern Team. Nathan is joining us from Exela Enterprise Solutions (Novitex) where he was a Service Delivery Director. Nathan’s role will be as a Consultant with Mattern where he will use his wealth of experience in back and middle office operations for the benefit of our clients.
Check out the full Fall 2018 Mattern Matters here.