Alternative Legal Services provider recognized by the Association of Corporate Counsel for its game-changing, data-driven approach to legal spend with Anglo American
11 June 2019– Exigent has been listed as a Value Champion in the 2019 edition of the Association of Corporate Counsel’s (ACC) annual accolade for top companies and providers who are changing the way legal departments operate. Exigent’s collaboration with global mining company Anglo American was selected for the impact and innovation of their legal spend and operational efficiency program, resulting in 35% reduction in outside counsel spend and 7-fold improvement in contract turnaround time.
Launched in 2008, the ACC Value Challenge is an initiative aimed at providing resources and training for in-house counsel and law firm lawyers to help the legal industry align with business best practices that other sectors already rely on, such as project management, process improvement, efficient use of technology and knowledge management tools.
“To be considered best-in-class, a law department must be willing to tear down their operational model and start again from scratch,” said Catherine J. Moynihan, associate vice president of legal management services at ACC. “These Champions did just that. In response to strategic demands, they employed a variety of process improvement techniques and creative partnership models to automate and streamline legal services. Their agility is breath-taking.”
The ACC included Exigent and Anglo American in this year’s list of 10 value champions from across the world for hitting the mark on smart use of technology, process efficiency and strategic partnerships:
“Anglo American Group Legal (Johannesburg) and Exigent (Global) — After the 2015 collapse of commodity prices in the mining sector, the Anglo American Group Legal team in Johannesburg lost 60% of its in-house staff and moved work to Exigent, freeing the in-house team to handle complex legal issues. Contract turnaround time dropped 86 percent. Exigent also developed a custom legal spend tool that supported Anglo in converging to a panel of law firms and better manage pricing, resulting in a 35 percent decrease in outside counsel spend over three years.”
Following Exigent’s mantra of extracting value from data in contracts, Anglo American used historical data about suppliers to be able to plan for future expenditure in a much more accurate way. The data and analytics that Exigent’s legal spend and matter management technology provides empowers Anglo American to choose the legal providers that are more likely to stick to their quotes, delivery times and final fees. This also means Anglo American is in a stronger position when negotiating fees and agreements with suppliers.
Also recognized by the FT Intelligent Business initiative as one of the 10 outstanding examples of companies that are driving new trends in legal data, Exigent used its rigorous analytical thinking to co-create with Anglo a new resource model. The challenge of a significant reduction in internal headcount was met with lower cost flexible resource on and off-site. Far from being an impediment to the organization, the new model meant that the business could do business faster, with contract turnaround times reducing by 86%.
“The key to value is data. And legal has so much of it. It’s astounding just how little use legal departments are making of it. We are lucky to work with inhouse leaders that get it. With Anglo American, internal and external costs needed to be more flexible, scalable and culturally aligned with a heavily cyclical international business. Yet even in a downturn in commodity prices, the demands on the legal department increases, if anything. Most importantly, the legal team knew this was a chance to deliver market-leading change that would serve them well long term. It was not reactionary, it was strategically smart” said David Holme, Exigent’s CEO.
Exigent is a global alternative legal services provider operating at the intersection of law, business, and technology. With a worldwide team of over 400 attorneys, business analysts, developers, and consultants, Exigent is transforming the way legal services are offered by applying analytical thinking, smart use of technology and inventive talent, to deliver answers that impact every aspect of business performance.
Exigent’s contract management solutions and business analytical tools help the C-suite, In-house Counsels and law firms to reduce risk, improve compliance and drive process and cost efficiencies.
International clients trust Exigent’s powerful combination of technology, consulting, and legal services in the US, Canada, UK, Australia and South Africa. Cross-cultural and inherently borderless, Exigent has eight offices around the world, with three operating centers in Bangalore, Cape Town, and Perth. For information about Exigent visit www.exigent-group.com
The Association of Corporate Counsel (ACC) is a global legal association that promotes the common professional and business interests of in-house counsel who work for corporations, associations and other organizations through information, education, networking, and advocacy. With more than 45,000 members in 85 countries employed by over 10,000 organizations, ACC connects its members to the people and resources necessary for both personal and professional growth. By in-house counsel, for in-house counsel.® For more information, visit www.acc.com and follow ACC on Twitter: @ACCinhouse.