How do you move in-house teams from the traditional paradigm of sourcing outside counsel to achieving cost predictability, transparency in decision making, and buy-in from change-averse stakeholders?
Join us as Shane O’Connor, Commonwealth Bank of Australia’s General Manager Strategy and Operations, shares his story of how CBA:
- Created buy-in with stakeholders — firms, executive management, and importantly, the lawyers at the crux of the in-house/firm relationship — for adopting a new approach to managing in-house/outside counsel relationships
- Used a data-backed, structured approach for achieving new transparency, predictability, and decision-making rigor in the outside counsel management process
- Transitioned much of their outside legal matters to value-based pricing arrangements
CBA's journey is instructive for legal teams at any stage looking to modernize their operations, deliver more value to the business, and chart a strategic course for long term success.
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