The purpose of this Case Study is to provide the reader with an example of how subscription based fixed price legal services can not only work well for businesses operating in the UK, but also internationally, and to highlight how this can significantly reduce legal expenditure by as much as 50%.
CMO Global Limited (“CMO”), headquartered in London with offices in the USA, India, Singapore, Russia, Australia and Dubai is an international provider of governance, risk & compliance software. Their software provides companies with the tools to produce a safer and better regulated working environment. CMO’s software makes it easy for its clients to manage health and safety risks and to stay ahead of complex regulatory and audit compliance requirements, with cutting edge solutions that use the latest web technology, with simple user friendly interfaces.
Jim Darragh, CMO’s CEO explains the problems the company was faced with:
“We were in a situation where the company was growing very quickly. We were utilizing both internal staff and a number of external law firms to manage our legal work – this included corporate work, employment and business critical contractual matters between ourselves and our customers.
Whenever a legal matter came up, it meant a new engagement with external lawyers each time – this was convoluted and time consuming, to say the least, especially when you consider we have offices in UK, USA, Australia, Russia, India, Dubai and Singapore! Attempting to manage external lawyers based in other countries, with different time zones proved a challenge in its own right, and there were occasions where deadlines were missed. We were in a situation where, potentially, we were exposing ourselves to business risk and it was becoming increasingly difficult to control our ever escalating costs.
We were looking for a solution where we could reduce the number of external law firms to a single point of contact that could manage everything, but one which could also grow with our business and adapt according to our needs. We needed to have tighter control of our costs and a clear view of when work would be completed. The way we saw it was, we could either hire an internal legal counsel of our own, or take the route of instructing one of the ‘big’ legal practices that would have offices all over the world. There were potential flaws in both of these solutions, ie. How would we find an internal legal counsel that could cover all areas of law – it is impossible to find someone who can do everything, ie. HR, commercial, corporate etc, but also, with a big international practice, though all geographical locations and all areas of law would be covered, we wouldn’t have the visibility and control of costs we needed. It was a real dilemma, and one there didn’t seem to be a ‘fix’ for.”
CMO had heard of 360 Business Law through other business contacts and decided to discuss its needs with them. Following a review of CMO’s requirements, they offered a solution in a number of ways:-
- Their fixed price subscription pricing model, with service level agreements meant that CMO would have clear visibility of its costs in advance and gain the all important view of when work would be completed, thus greater control over budgeting and deadlines being adhered to.
- Internal staff would have the option to call their 360 Business Law contact with legal questions, rather than trying to solve issues alone.
- All legal work could be managed from a single point of contact in the UK – 360 Business Law has lawyers all over the world to carry out work locally.
CMO made the decision to trial 360 Business Law over a 3-month period in order to assess how the companies would work together, prior to entering into a fixed price contract.
Jim Darragh’s view:
“We were aware that the legal services market in the UK was changing, driven by companies such as ours, who required quality legal services at a fair price, but we had no idea that we could achieve this on a global basis until we spoke to 360 Business Law.
After the three-month trial, which enabled both parties to see how the other worked, we entered into an annual subscription agreement for a very reasonable fixed monthly fee that covers all commercial and employment matters, with the exception of unpredictable cost matters such as litigation and mergers and acquisitions in all jurisdictions in which we trade.
With 360 Business Law’s single monthly payment, we have true visibility and control over our budget which has enabled us to achieve a huge cost saving of 50% of our annual legal expenditure.
We’re so pleased with the service, we now use 360 Business Law’s legal services for all commercial and employment issues on a global basis.
360 Business Law provide us with a point of contact for all legal matters worldwide and all workload is centrally administered from the UK with regular reporting. We have found their lawyers to be very approachable- in fact, inter- action with our sales staff is actively encouraged by 360 Business Law, they are professional and, above all, responsive. Our sales executives understand that 360 Business Law’s lawyers can help them conclude sales, as opposed to being a bottleneck.
In the time they have been on board, not only have 360 Business Law reviewed all of our go to market contracts, assisted in closing contracts in the UK, USA, Australia and South America, overhauled our complete employment documentation, but they have also assisted us in setting up our new operation in Dubai. The service has been seamless – the transfer of information has been handled really well, literally taking the headache away from us.
It’s refreshing to deal with a legal firm that considers that it is simply providing a service to its customers, no more valuable than the services we provide to our valued clients, and provides a pricing model that is within the reach of all small and mid-market companies.”
360 Business Law addressed CMO Global’s legal issues, ensuring they had a working solution and one that can grow as their business does. It is the only company of its kind offering subscription based fixed price legal services to UK clients trading overseas.
In 360 Business Law, CMO not only has a legal services solution that meets all of its requirements, but also one which has reduced its legal expenditure by 50% annually.