COST & REVENUE
An organization's legal expenses are often a large part of its overall budget. Because they are often high and can accumulate quickly, the legal costs of doing business should be budgeted, tracked, and managed closely. To control expenses, a company's legal department and/or outside counsel must be regularly evaluated to ensure efficiency of time and effectiveness of work product in relation to their costs. Organizations benefit from quick, informed, and sophisticated decision-making concerning the circumstances under which to seek outside counsel, the most efficient and effective use for counsel, the timing around retaining counsel, and which attorneys to use. PerSynergy consults with companies, with or without in-house counsel, to help establish processes, provide insight, and/or assist organizations with any or all of the above considerations that should be part of a company's legal expense strategy.
While an organization's use of legal counsel is often seen exclusively as a cost center, various legal tools can be used to enhance revenue. Regulatory timelines, contract terms, and AR collection practices can all be deployed strategically to increase revenue from a number of sources. PerSynergy partners with clients to build the use of such legal implements into their operating systems and revenue enhancement efforts.