SOURCE: LbGlobal Law

LbGlobal Law

March 17, 2015 06:00 ET

Jeff Hodge, Legal Spend Management Pioneer, Joins LbGlobal Law as Chief Marketing Officer

NASHVILLE, TN--(Marketwired - Mar 17, 2015) - LbGlobal Law (LbGL), a next generation legal spend management software and services provider, today announced that Jeff Hodge has joined the company as Chief Marketing Officer. A well-known legal industry thought-leader and legal spend management pioneer, Mr. Hodge will lead LbG's launch of new products and initiatives focused on changing how general counsel and corporate legal departments think about legal spend management software and services.

"The legal ebilling and legal spend management solutions sector has been stagnant for a number of years, with no new offerings, increasingly dated technology and consolidation of providers under holding company brands better known for selling books and CDs than legal software," said Steve French, chief executive officer, LbGlobal Law. "As we watched the stagnation and consolidation over the last several years it was obvious that something needed to change. We decided that there was real opportunity to reenergize and change legal spend management through the unification of next generation technology and best-in-class legal spend management services. We also knew that such an opportunity would take investment, world-class talent, and experience. If LbG was going to lead a change, Jeff was frankly the only person that we could see leading our execution against the opportunity."

An accomplished legal spend management pioneer and thought leader in both the US and Europe, Hodge has more than 25 years of experience inside of corporate legal departments, corporate legal software providers and the consulting world. In addition, Jeff led standards initiatives upon which the sector was founded, including LEDES (Legal Electronic Data Exchange Standard) and UTBMS (Uniform Task Based Management System), and has co-founded, managed or served on boards for some of the sector's most notable brands.

"Something has to change in the corporate legal technologies space and I'm extremely pleased to be with LbG as we lead this change", said Mr. Hodge. "As I look at the global market for legal spend management I see several key indicators signaling that the sector is ripe for innovation, change. First, nearly every provider is now owned by parent companies with virtually no understanding of the needs of a corporate legal department and almost as little understanding about how to develop software. Second, these companies are not investing in the research and development nor the innovation that corporate legal both wants and needs. Finally, most providers have said 'you have to do it our way' and are continually trying to recast the problems as massively complex in order to justify higher price points. It has been frustrating for me to watch, but I am equally frustrated for general counsel who are getting pitched dated technology, a 'do it yourself' approach and price tags that hold little or no resemblance to the value they deliver."

In 2000 there were roughly a dozen viable legal spend and matter management software and solution providers serving corporate legal departments. Since that time, software development costs, and therefore software costs, in other sectors has come down dramatically while the price tag for legal spend management solutions has increased dramatically. Today, there are half as many viable providers of legal spend management, and nearly all of those providers are owned by one of three legal publishing and database conglomerates. None of these conglomerates was founded around developing and selling software. It's estimated that greater than 75% of all new legal spend management buyers are purchasing technology developed before 2005 and paying a greater percentage of their outside counsel spend for that software.

"Our clients, legal departments, claims and risk managers, are telling us that they want three basic things from their legal spend management solution," said Hodge. "Clients want technology that is up to date and that incorporates workflow, design and usability concepts that software providers like Google, Microsoft and others deliver. They neither want nor need overpriced software thrown over the wall with an expectation that they will figure things out, and so they expect trained and experienced lawyers and paralegals as part of their solution team and as part of what they pay for. Finally, they want flexibility; flexibility in the software, the flexibility to add services as part of the engagement or on the fly inside of invoice and matter workflow, and they want flexibility in pricing and terms. We listened and we are offering both today, with even more advanced offerings about to come to market. It's just not that difficult."

Follow Jeff: Twitter @HodgeLegalTech and at www.linkedin.com/in/jeffhodge/en

About LbGlobal Law

LbGlobal Law is a next generation legal spend management solutions provider focused on developing legal matter and spend management software, and delivering legal spend management services to corporate legal departments in the US and Europe. Tightly integrated with LbG law department operations (LDO) services, our SaaS or behind the firewall solutions address matter management, ebilling and spend management software needs with the ability to add the human element when needed. From fully automated legal ebilling, to legal spend analytics and outside counsel management services, and everything in between, LbGL picks up where traditional legal spend management providers leave off.

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