April 13, 2023
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Effectiveness and Efficiency of Outside Counsel
Nationwide’s Office of the Chief Legal Officer (OCLO) was seeking to improve the effectiveness and efficiency of its outside counsel use over the long term. Prior to changes, costs were high, firm relationships were transactional, and internal attorneys and business partners were working inefficiently due to administrative burden. In 2022, OCLO conducted an RFP process with current outside firms, developed a firm selection tool, created a simplified governance process for requesting exceptions and reporting spend, and established centralized firm relationship management. The 79% reduction in outside counsel firms resulted in a savings of $4.5M+ in 2022. Additionally, these changes resulted in stronger relationships with outside counsel, better results, and more consistent, time-saving processes.