ValoremNext is a sister-company to Valorem Law. Its over-arching goal is to help companies save money and resources through a variety of services that fall under the ValoremNext umbrella. A universal focus of ValoremNext is preventing problems before they turn into lawsuits by identifying avoidable risk and implementing practical solutions. By being proactive with prevention, in-house legal teams and companies can devote time to creating value rather than putting out avoidable fires.
ValoremNext Products & Services:
1. Consulting on Alternative Fee Arrangements - now more than ever, law firms and companies are trying to move to AFAs for legal work, but navigating how to effectively put them into practice is difficult. On a project or retainer basis, we use our 8 years of success with AFAs to help companies and law firms maximize their success with AFAs, including helping them craft or structure AFAs for certain matters or portfolios, advising about appropriate staffing and cost considerations, to training outside counsel on how to implement AFAs effectively.
2. The ValoremNext Arbitration Program: Every business has business-to-business disputes that are not worth the cost of the legal fees and time that ordinary dispute resolution (court, arbitration, mediation) requires. So these disputes are left on the table and cumulatively, they erod profit margins. ValoremNext has created a streamlined arbitration solution which allows resolution of the dispute on a quick and remarkably cost-effective basis. The case is resolved within 45-60 days of it being initiated and at a flat fee of the greater of $7,500 or 7% of the amount in dispute. Instead of lawyers being the focus of the process, a business representative is the main spokeperson in the arbitration, with counsel limited to advising the representatives.
3. Designing Prevention Programs: We help companies "see around corners" by identifying areas within a company's business units and legal department where problems can be prevented and then developing a lean or robust prevention program with solutions that produce sustainable and discernable savings year over year
4. Implementing After Action Assessment (A3) Programs: A3s are the most under-utilized but cost-effective method for preventing repeat mistakes and continuously improving. ValoremNext designs "after-action" programs for companies using which may include using customized technology that is user-friendly and easy to implement. We also conduct A3 training and follow-up to ensure the program is working smoothly.
5. Creating Early Warning Systems: It is very easy to create "early warning systems" that will raise red flags to the legal department or other areas of the company before a situation reaches a crisis. Imagine if such systems were in place at Volkswagon or GM or Enron. ValoremNext partners with innovative technology companies to customize applicable early warning systems that can be tweaked and modified as necessary, and that will significantly reduce the likelihood of a substantial crisis. Here's where the old adage "an ounce of prevention is worth a pound of cure" comes in. The amount of money it takes to build an early warning system is inconsequential given the amount of money it takes to remedy an issue that went unnoticed for too long.
6. Analyzing Processes to Identify and Eliminate Waste: Legal Departments are busy and those in it can often only play fire-fighter in a reactive mode. ValoremNext is able to objectively look at routine and usually repeat processes (for example, the process set up to purchase or sell a routine commodity) and identify steps in the process that (a) add no value, (b) create risk and (c) lead to waste. Using process mapping and other tools, we propose new, more efficient systems and identify the costs that will be saved year over year by implementing what is often rather simple modifications or solutions.
ValoremNext Opportunities - every facet of the business can benefit from what we offer.