The Cowen Blog
Sunny Weather, Sunny Outlook: Quick Thoughts from Breakfast in LA
Posted 21 July 2010 by David Cowen
I'm not sure what I liked more - leaving the New York heat for Southern California or the great discussion I had with some of the best and brightest of the Golden State. I will say this: Litigation Support Managers in the Los Angeles Basin are working more, looking for talent, and thinking hard about the evolution of the industry and of their own departments.
One of the recurring themes of our Summer Series has been earning and keeping a seat at the table with firm leadership.
As we all get busier, department leadership is spending more time doing and has less time to think, plan, and advocate. Similarly, firm leadership is getting busier and has to spend more doing and less time listening to new ideas. Some of the lessons learned in this area so far in 2010 include:
- Start Measuring. If you can back your business case with figures on cost, turn around time, potential savings, and any risk mitigation, you'll be able to speak quickly while displaying business acumen. (Click here for more on this topic, including a quick list of the types of metrics people are tracking at other firms).
- Convert wins to advocates. One of the standout moments at Breakfast was when a first timer, Matt Peterson, an Associate from Morrison & Foerster, proclaimed "I'm not tech-y; the Litigation Support team and the guys at E&Y were critical to the success of the project and I'd love to go to bat for them with my peers and the partnership - but, how do I do that?"
Business 101: When you impress someone, help them help you. When you consider the cost and stress savings when Litigation Support is engaged early, you might actually be helping that Associate impress his boss also.
- Think talent. If your firm can offer Litigation Support professionals a great work environment with engaged attorneys and amazing technology, you'll be able to attract better talent - possibly for less money.
- Catch 'em on a bad day. I'm not sure we're actually supporting this, but when you have a history of success and the partner you're talking to trusts your decisions, they might just ask you to take care of it because they've got 100 other things to do. Take that inch and don't be afraid to push for the whole nine yards.
I'll close by saying this: being a successful litigation support manager requires a lot more than technical savvy and experience with a team. You have to be a salesperson, a bootstrapper, an innovator, a guru, a hand-holder, a problem solver, a motivator, a trainer, and a hard-headed businessperson.
You also have to be these things with limited resources and encouragement; firms are asking a lot of Litigation Support professionals right now.
So what's the Sunny Outlook?
Solving big problems that are incurring big costs for big organizations has BIG value . . . to the organization itself and to your career. Success now will be your launchpad for even more success in the future.
Thank you again to everyone who joined us for Breakfast - I'm in San Francisco on Thursday and I'm excited to see where that conversation goes.
Q2 Critical Trends Survey is Underway!
Posted 14 July 2010 by David Cowen
We kicked off our Q2 industry critical trends survey Monday as we continue to gather and share data and information about the marketplace. If you haven't already participated, we invite you to do so - we'll keep the survey open until 5 pm PDT Friday, July 16.
We'll be reporting results from the survey a few ways. First, we'll present findings via our Smart Talk Breakfast Series events, beginning in Los Angeles July 20th and continuing in San Francisco July 22nd and Chicago July 27th. We'll also send out results via a press release and here on our blog.
So far the response has been very strong and I'd like to thank the people who have participated. In the first 3 days of our survey, we've collected responses from over 75 law firms and 25 corporations and we expect to see those numbers go up by Friday.
Also, I wanted to share a quick snapshot from our Law Firm results:
- 34% of Litigation Support Departments are working more hours
- 28% are adding to staff
- 22% are adding to training budgets
- 68% are paying more attention to legal project management
- 35% are facing more challenges with Sharepoint
- 29% are facing more challenges with Cloud Computing
I am looking forward to our final report and I hope that it helps leaders and professionals in our industry by providing a more transparent picture of where we are and where we are going.
Finding My Voice
Posted 8 July 2010 by David Cowen
People have been telling me for years that I should blog. Colleagues, mentors and friends have suggested that I'd be a natural and that it would be great for my business. I took the tip and signed up for a blog posting a few items here and there but something didn't feel quite right.
I wasn't sure what my "voice" was yet.
I don't want to be someone who blogs just for the sake of blogging. I've always believed that my communication with others should have some level of value associated with it. And yes - those who know me will no doubt agree that I do like to talk - but believe it or not, I actually enjoy listening more.
Over the past year or so I've hosted nearly 20 industry related thought leadership breakfasts and roughly the same number of dinners in cities all over the US. These events all feature industry thought leaders from various corporations, law firms and vendors in markets throughout the country. It's been incredibly rewarding having the opportunity to meet and learn from so many of the brightest minds in the legal industry. My role in these events is host and facilitator - but I also spend a good deal of time listening (and learning).
So back to my blogging. I've decided that the time is right for me to get into it again - to use this and other social media avenues where I can share what I've learned, what's been successful for me and tips for others looking for ideas to further their careers. I'm now in constant contact with key influencers in the industry from all around the country on a regular basis and I want to use my blog and social media channels as a way of sharing ideas and observations - and opening the discussion to an even broader group.
Nearly a year ago I met David Kaufer, who was then Director of Marketing for the successful litigation support firm TERIS. I reached out to David for the same reason I reach out to most in our industry - I wasn't sure if or how there was a reason for us to work together but I wanted to at least explore it and get to know him. And as often happens, we developed a relationship.
David and I are now working together to develop content and material in a number of areas - including this blog. We have brainstormed and collaborated together to develop ideas that will be entertaining, timely and interesting for you.
So as we roll into the heart of July, I'll be hosting our next series of events, which I've renamed "Smart Talk" breakfasts. I'll be in Los Angeles on July 20th, San Francisco on July 22nd and Chicago on July 27th. .
I'm looking forward to meeting you this summer.
Corporate eDiscovery: The Costs and Burdens of Preservation
Posted 10 May 2010
Participation from 55 corporations across 13 industries
We asked corporations
"What measurable costs are associated with your preservation efforts?"
We asked corporations
"How reasonable is the required effort associated with preservation?"
The Costs of Corporate eDiscovery
Corporate Critical Technology Trends Snapshot: Q1 2010
Posted on April 28, 2010 by David Cowen
22% of corporations anticipate insourcing more eDiscovery work in the next 3 months.
The Cowen Group completed the Q1 Critical Trends Survey on April 12, 2010, collecting responses from 47 major corporations on their current workload, as well as near-term plans for technical and talent acquisitions.
We asked corporations
"What key tasks do you plan on insourcing in the next 3 months?"
We asked corporations
"In the next 6 months, what will be your top 3 priorities for technical investments?"
We asked corporations
"What tools are you considering acquiring?"
View Critical Technology Trends Snapshot: AmLaw Q1, 2010
AmLaw Critical Technology Trends Snapshot: Q1 2010
Posted on April 26, 2010 by David Cowen
31% of law firms anticipate insourcing more eDiscovery work in the next 3 months.
The Cowen Group completed the Q1 Critical Trends Survey on April 12, 2010, collecting responses from 78 major law firms on their current workload, as well as near-term plans for technical and talent acquisitions.
We asked law firms
"What key tasks do you plan on insourcing in the next 3 months?"
We asked law firms
"In the next 6 months, what will be your top 3 priorities for technical investments?"
We asked law firms
"What tools are you considering acquiring?"
View Critical Technology Trends Snapshot: Corporate Q1, 2010
Critical Staffing Trends: Q1, 2010
Posted on April 15, 2010 by The Cowen Group
The Cowen Group predicts 215 new eDiscovery jobs in the next 6 months.
The Project Manager will gain greater prominence in the industry due to the increasing size of datasets and heightened concern around controlling cost, limiting risks, and guaranteeing outcomes.
The Regional Manager is increasingly important as departments become more mature. This position ensures a firm’s ability to provide round-the-clock support across time zones, enhances a departments ability to measure and track key metrics, and is essential to standardizing inter-office best-practices.
The eDiscovery Attorney is emerging as a leader in many eDiscovery departments. The role requires a sound understanding of the law and legal writing skills, hands on experience with eDiscovery and business savvy. The cultural clout of a JD is also a valuable tool when advising other attorneys on the proper handling of ESI for litigation.
When asked whether staff hours are up from Q4, 2009:
25% of Corporations said YES | 61% of Law Firms said YES | 51% of Vendors said YES
When asked whether new case workload is up from Q4, 2009:
22% of Corporations said YES | 65% of Law Firms said YES | 46% of Vendors said YES
When asked whether existing case workload is up from Q4, 2009:
17% of Corporations said YES | 47% of Law Firms said YES | 38% of Vendors said YES
When asked whether hiring would increase in Q2, 2010:
35% of Corporations said YES | 60% of Law Firms said YES | 65% of Vendors said YES
When asked whether they would consider outsourcing unexpected new workflow:
39% of Corporations said YES | 31% of Law Firms said YES
Press Release: eDiscovery Preservation Burdens and Costs
Posted on April 8, 2010 by Press Corps
New York, NY, April 8, 2010 -- The eDiscovery Institute has commissioned The Cowen Group to study the costs and burdens involved with corporate preservation of electronically stored information for upcoming litigation obligations. The survey will focus on identifying common practices, assessing disruption to business functions, and providing the community with a basis for discussion and education. Results will be presented by Tom Allman, former General Counsel at BASF, at the upcoming 2010 Litigation Review Conference in May at Duke University's School of Law.
Those interested in learning more should
- Contact David Cowen, Managing Partmer at The Cowen Group at David@CowenGroup.com
- Participate in the Survey
Sneak Peek at Q3 Staffing Survey
Posted on October 5, 2009 by David Cowen
After a long, uncertain summer, it appears that the dam is breaking for the E-Discovery industry. The Cowen Groups Q3 Staffing Report found that 35% of major law firms, and 29% of F500 Corporations, anticipate adding staff by years end. In both sectors, nearly half of respondents worked more hours in Q3 than Q2, 2009 – largely due to additional workflow.
Firms and corporations have realigned their strategy to focus on cautious expansion while simultaneously recognizing that continued reliance on existing staff can create long-term staff burnout and exodus.
If you’d like a copy of the report or a full rundown on the 175 law firms and 55 high fortune companies that were surveyed, please contact me (David@CowenGroup.com).
Q3 Staffing Trends Report
Posted on September 25, 2009 by David Cowen
For the past year, The Cowen Group has been surveying the marketplace to determine staffing trends, in light of the tough times law firms, vendors and corporations have gone through. We have just launched our Q3 survey and have some preliminary “tidbits” to share with you. The good news for all, is that only a small fraction of our surveyed database plan on reducing staffing the upcoming quarter. Next Wednesday we will have the comprehensive results of the survey to share with you, including data on work load, outsourcing, etc.
As I look forward, I realize that the data that we have is significant for all, but there are many other issues that concern our industry and we have the opportunity to examine those issues in depth. I have partnered with Jeanette Slepian , former Sr. VP Sales and Marketing at Fios, to develop a comprehensive survey of our industry which will identify leading trends in not only staffing but spending on related litigation and e-discovery services. What professional and IT-enabled services will law firms and corporations be investing in? Will the trend of “vendor consolidation” gain further momentum in 2010? These and numerous other critical issues will be analyzed in our first annual forecast. Stay tuned for more details.
P.S. Congratulations to Jared Coseglia, our Senior VP, for the first Episode of his Career Corner Podcast posted on ILTA… John Kapp (Shearman & Sterling), Jeannie Larrea-Manzano (Wachtell Lipton) and Brad Schaffel (WilmerHale) share their insight about the exciting evolution of their careers in the litigation support industry. Listen Here
Working Longer and Harder
Posted on September 15, 2009 by David Cowen
In my session at ILTA on the future of Litigation Support, I asked how many people were working longer and harder today compared to six months ago. 70% of the group raised their hands.
This show of hands, combined with recent data collected by The Cowen Group, indicates that the Litigation Support industry has hit the bottom of the recession (I can’t speak for the entire legal industry or the economy at large). Most litigation support professionals are working harder and longer for one of two reasons:
- Because staff cuts have forced them to do the job of two or more people; or
- Because their organization has experienced a net increase in work.
Working long and harder, month after month, is not sustainable. Eventually, litigation support and E-Discovery departments will need to add headcount and expand their ranks. Is this expansion happening yet?
We invite you to participate in our Q3 Staffing Trends Survey which will be distributed next week. In it, we ask the following three questions:
- Are you and your team working harder and longer compared to three months ago?
- Do you plan to add headcount, reduce headcount or keep staffing levels the same between now and the end of the year?
- What is your greatest challenge entering the 4th quarter of 2009? Technology, Workflow/Process Improvement or People?
The Cowen Group’s Q2 Staffing Report found that nearly 1/3 of surveyed Litigation Support departments in the AmLaw 200 planned on adding staff before the end of 2009. I am looking forward to reporting the most recent data next week.
