Legal Metrics for Action

Legal operations excellence is about finding that right balance between supporting the day-to-day challenges of the practice of law and finding ways to harness the tools and experience of that practice to innovate for more effective legal and business outcomes. But that’s easier said than done!
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Legal Operations - According to Plan

A year ago, in January 2017, Hyperion Research surveyed the legal community about their planned priorities for the year.  Which operational objectives would they focus on in the new year to help drive success?  And likewise, how will those objectives influence their budget and planning priorities?  Now, as we get underway in 2018, we went back to assess how those plans panned out, and where did we as a community make the most progress. While the overall picture shows a general alignment between what was planned and what was done, there is definitely one standout that speaks to an important overarching market trend.
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Dashboarding for Value

The pressure on legal organizations for alignment with the needs of the businesses they serve fuels an appetite for data, in the form of operational metrics, Key Performance Indicators (KPIs) and other actionable intelligence. That, in turn, drives the quests for how best to consume that data—and is progressively more conveyed by increasingly popular dashboarding solutions.
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Demonstrating ROI in IPM

Hyperion Research’s proprietary VPI InfographicTM plots current market sentiments regarding trending IPM disciplines and competencies for relative Value, Priority, and Investment to organizations.  The VPI Infographic’s competency matrix demonstrates the comparative value and priority ascribed to the core IPM capabilities; each capability is plotted on value and priority axes, while the size of each bubble represents relative levels of investment for each. 
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Transforming IP Services for Value and Innovation

The decision to outsource, or to perhaps insource, discrete parts to the IPM lifecycle is one of reassessing the balance of resources within an IP organization, which is a core IPBM challenge. In particular, decisions on the use of IP services regard a company’s human-capital supply chain. This is not so much about reducing head count as it is about making better and more thoughtful use of available resources. The use of third-party IP services, whether via an LPO model or through more traditional fee-for-service models, is historically most closely associated with annuity payment services. 
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Six Keys to a Successful Change Initiative

Change is never easy and organizational change is certainly no exception to the rule. Organizational change can cause a lot of anxiety, not least because the failure rate for such change is so high—roughly two-thirds of all organizational change initiatives fail. Yet organizational change is necessary, and inevitable, in order to stay competitive and relevant.
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Analytics and KPIs: You Can’t Master What You Don’t Measure

Performance analysis, insight, stakeholder visibility and operational efficiency are the fundamental components that drive IPBM excellence. Performance management analytics comprise the tools, capture methods, data models and visualization technologies that help legal and IP organizations focus on the operational performance metrics they need, to help them understand both the business effect of their activities – causality, impacting processes and behavior – and the corrective steps, nee actionable intelligence, they need to optimize performance and outcomes.
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The Innovation Community:  Capture, Nurture, Manage

One key driver in the shift toward IPBM involves addressing the challenge of failing to protect the valuable ideas borne from the work of innovation. The management of innovation, and nurturing the participation of inventors and IP asset developers, is paramount in this movement. Increasingly, the leading IPM vendors have sought to harness this nexus and develop new tools to better engage and empower all stakeholders in the innovation lifecycle. Many of the advanced solutions covered in this report are either introducing new tools to drive invention disclosure, IDS and prior-art searching processes, or have significantly improved upon and matured existing capabilities.
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IP Spend Management: Contextualizing Performance

The legal business landscape has shifted significantly over the past decade. Since the financial crash of 2008, corporate law and IP departments and law firms were forced to do more with less, making the allocation of resources more critical than ever. As the bottom line continues to recover in the years since, the crux of IP Management has evolved from an emphasis on legal matters to one of spend management visibility and the revenue-generating potential of individual assets. This has, in effect, formed a well-defined focus to align the management of intellectual property assets and the achievement of overall business objectives—and ultimately, to demonstrate real return on investment.  
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Dashboards for Operational Effectiveness

If it feels like every legal technology solution on the market today includes the lure of some kind of sexy new dashboard functionality, you’d probably be right. Interactive data dashboards that promise to solve a myriad of business problems by showing you the most up-to-date, essential information for your job, all packaged up in a colorful, engaging visual display are a hot commodity; and for good reason. An information management tool that tracks, analyzes, and displays essential business intelligence such as metrics, key data points, and key performance indicators (KPIs) can have a significant impact on operational success.
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