Increase the value from your external panel – part 2

Increase the value from your external panel – part 2

In Part 1 of our series, Louisa Van Eeden discusses how to increase the value of your external panel of suppliers and explores  the importance of transparency when working with an external panel. Part two in our mini series provides advice on how to maintain good relationships with suppliers, cultivate trust and drive continuous improvement.

Building on previous research, LexisNexis partnered with Judge Business School to explore the dynamics of the relationship between in-house legal teams and their law firms in more depth in our latest report “Trust and Transparency between in-house legal teams and their law firms”. You can also watch an interview with Dr. Kishore Sengupta for a summary of the main conclusions from the report.

Step 2: Transparency: promoting visibility

Research has shown that transparency is key to fair process in social exchanges. A lack of transparency creates ambiguity, which can lead one side to perceive a lack of reciprocity from the other side. This leads to suspicion, and reduces trust.

Our findings showed that 80% of the time this (the exploration stage) is conducted by the in-house legal team with no involvement of the law firm.

A live trust simulation at the briefings demonstrated to powerful effect just how important transparency is between the in-house legal department

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About the author:

Louisa leads marketing for the in-house legal community at LexisNexis. She joined the dedicated in-house team at LexisNexis four years ago and has a passion for driving and facilitating initiatives which are customer-focused at their heart. Her vision is to support in-house counsel succeed in their fast-evolving role based on deep insight, data analysis and best practice gathered across the in-house community.

Prior to her in-house focused role, Louisa led the marketing for the bar and mid-market private practice sectors as well as product marketing lead for LexisPSL – LexisNexis’ cloud based, practical guidance and legal research software solution.

She brings 20 years’ marketing experience both client and agency side, specialising in B2B marketing in the Legal, TMT (Telco, Media and Technology) and Financial Services industries. In both South Africa, Europe and the UK.

Louisa is also an active member on the LexisNexis Gender Equality Matters (GEM) steering committee and is involved with the Families at LexisNexis Group which brings together, supports and lobbies for change those with an interest in balancing the challenges of work and family.