IP COST SAVING TIPS:
THE VALUE EQUATION: CLIENT EXPERIENCE
13 MARCH, 2023
THE IMPORTANCE OF DEFINING YOUR SERVICE EXPECTATIONS
Our focus in March is on value, and last week, we highlighted the key elements of the value equation.
This week, we’ll discuss an important pillar in the equation – client experience. For most organizations, this means timeliness, communication, and quality of delivery.
Most IP teams find costs easy to evaluate and compare, but objectively evaluating vendors against client experience expectations is more challenging. Why?
The reality is that few organizations have defined and formalized their service expectations, and even when they have, only a small number regularly monitors and measures vendors.
The Value Equation
- Cost/Affordability
- Effectiveness
- Client Experience
- Third-Party Impact.
SOUNDS GREAT ON PAPER – BUT WHERE DO YOU FIND THE TIME?
Everyone is busy these days, so it can be difficult, if not impossible, to find the time to implement a program to define quality metrics and monitor outside counsel.
If you don’t have the time (although we would argue that a well-defined program will actually save you time, but that’s a topic for another post), then we recommend that you start small. Very small.
Meet with your team and identify one key measurement that, if improved, would move the needle for your group. It can be anything and can be focused on any type of vendor, but it needs to be measurable.
The key to finding time to track your measurement is that you don’t – you ask your vendors to provide the compliance data on a regular basis. This actually does two things; it ensures that they understand your requirements and simplifies the collection process for you – you just collate and review the data.
Once you have the basics in place, you can slowly expand your metrics and even explore building out a complete outside counsel guideline and survey infrastructure. But start small – you’ll thank us later.
Disclaimer
THIS POST IS STRICTLY INFORMATIONAL AND IS NOT INTENDED TO BE, AND SHOULD NOT BE RELIED UPON AS LEGAL ADVICE. PLEASE CONSULT A QUALIFIED ATTORNEY FOR SPECIFIC ADVICE REGARDING ANY INTELLECTUAL PROPERTY MATTERS.
