Law Firm Access to ACC Value Index
The ACC Value Index (AVI) is a tool meant to inform in-house counsel decisions as part of a larger process of selecting and retaining a law firm. The AVI is a searchable database for in-house counsel to share subjective evaluations of the firms they engage. It is key to note that this is a process that already takes place naturally among in-house counsel who often seek their colleagues opinions on firms that offer good value. The Value Index builds upon this tradition by encouraging in-house counsel to contact or “ping” other evaluators to discuss the firm’s work in greater detail.
As we begin the process of rolling out law firm access to certain information in the Value Index this week, I want to take a moment to outline the who/what/when/where/how and why underlying this process.
Who – Access is being offered to law firms evaluated in the ACC Value Index since its October 2009 launch.
What – Each evaluated law firm will be able to access aggregated results pertaining to that firm. This includes average scores for that firm by criterion, office location and matter type. The firms will also receive overall Value Index averages for benchmarking purposes. Here’s an example of what a law firm would see:
When -- Starting today, February 3, 2010, through the foreseeable future.
Where – Access to the information will be available to law firms through an online portal on ACC’s Web site using the protocols below.
How – Here are the key steps for law firms to gain access to the AVI information:
1. Firm management decides who in the firm will manage the AVI access to the firm’s results.
2. The firm representative who will serve as the “administrator” on behalf of the firm goes to the AVI Law Firm Access Portal at: http://www.acc.com/valuechallenge/valueindex/lawfirms to obtain administrator access.
3. The administrator can then view the firm’s AVI results anytime and share them within the firm.
Why – As I wrote on this blog last October during the ACC Value Index launch, coinciding with the overarching goal of the ACC Value Challenge – information gleaned from the AVI will help to foster a greater dialog between clients and their outside counsel.
The AVI is only one part of the ACC Value Challenge, which encompasses a larger effort to reconnect value to the cost of legal services. Other aspects include a) “Meet. Talk. Act.” which encourages clients and law firms to engage in discussions about value and their relationship; b) a law firm economic model; and c) specific resources with examples of value practices and ideas on ‘how to’ implement practices focused on value. Resources, success stories and updates are continually added to the ACC Value Challenge community pages and we encourage law firms to get involved and help to provide additional information/resources.
