Axiom Drives Over $100 Million in Cost Avoidance for In-House Legal Clients in 2024

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Jan 07, 2025, 10:00 ET

Corporate legal leaders capitalized on Axiom's expanded portfolio of solutions and services to reap the greatest client value in Axiom's 25-year history of partnering with in-house legal teams

NEW YORK, Jan. 7, 2025 /PRNewswire/ -- Today Axiom announced its clients avoided more than $100 million in legal costs in 2024 by leveraging Axiom's high-quality legal talent vs. paying Big Law rates for similar work.¹ Fueled by the value it generated for its clients, Axiom also reported its best revenue performance and record client expansion. This includes:

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James Turoff is Senior Vice President, General Counsel, and Secretary at the Hershey Company.

David McVeigh, Chief Executive Officer, Axiom

David Pierce, Chief Commercial Officer, Axiom

The addition of 748 new clients overall to the company's roster, including 11 new Fortune 100 companies, 55 new Fortune 1,000 companies, 285 new SMB clients, and 181 new global clients. Now 75% of the Fortune 100 and more than 3,500 corporate in-house legal teams overall have placed their trust in Axiom for flexible legal talent and services.
More than 640 clients that have retained Axiom continuously for the past 5 years or more.
Sustaining an industry-leading NPS (Net Promoter Score) for client satisfaction in legal services throughout the year with high-quality legal talent that's equal to or better than law firm talent.²
Expanding the company's expansive lineup of flexible talent solutions and services to provide a "one stop shop" to corporate legal teams for Secondments, Specialized Advice, Recruitment Solutions, Large Projects, AI Lawyers, Talent On Demand, Fractional GC Services, and Litigation Services.

"Last year was an all-time record for Axiom in terms of revenue, new engagement wins, and new client acquisition, which reflects the expanding role we're playing for our clients as they face ever-increasing pressure to improve efficiency, expand capacity, and do more for less," said David McVeigh, CEO of Axiom. "Axiom was founded 25 years ago on the principle of delivering more value in legal services to in-house teams. We set the standard for value then and have raised the bar for value in legal services ever since, in partnership with our top-rated lawyers and legal professionals and amazing clients around the world."

Axiom created the alternative legal service provider (ALSP) category in 2000 with a bold vision: To give leaders of corporate in-house legal teams a high-quality alternative to overpriced law firms and to give lawyers a compelling career alternative that allows them to work with leading companies on a flexible basis. That idea caught on fast and has become a $20 billion industry worldwide³. Axiom continues to lead the way, expanding its suite of legal solutions and services in 2024 to give in-house teams the one-stop shop they want for legal talent, whether that's through Axiom's high-touch client service model, Axiom's digital talent marketplace, or law firm services provided by Axiom Advice & Council.

"The thing we're proudest of—and always derive most satisfaction from—is helping our clients to succeed," said David Pierce, Chief Commercial Officer at Axiom. "That means amplifying their ability to bridge gaps and handle spikes in work; helping them navigate and manage complex, large projects; delivering a better and more cost-effective way to handle basic litigation; giving them access to fractional general counsel; and acting as a high-quality, smartly priced alternative to Big Four consultancies and AmLaw firms. Our goal is equipping our clients to achieve their goals, in whatever shape that takes."

For more information or to talk to an Axiom representative, visit https://www.axiomlaw.com. For more information about Axiom, please visit our website, hear from our experts on the Inside Axiom blog, network with us on LinkedIn, and subscribe to our YouTube channel.

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About Axiom

Axiom is where high-caliber legal talent meets full-service law firm work. We invented the alternative legal services industry 25 years ago and now serve more than 3,500 legal departments globally, including 75% of the Fortune 100 who place their trust in Axiom, with 95% client satisfaction. Axiom gives small, mid-market, and enterprise clients a single trusted provider who can deliver a full spectrum of legal solutions and services across more than a dozen practice areas and all major industries at rates up to 50% less than national law firms. To learn how Axiom can help your legal departments do more for less, visit axiomlaw.com.

Net Promoter^® and NPS^® are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.

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¹Dec. 2024 Axiom internal analysis conservatively comparing Axiom's hourly rates to those of competing AmLaw 100 and other traditional and national law firms for equivalent legal solutions and services—Secondments, Recruitment Solutions, Specialized Advice, Large projects, and Law Firm Services (including fractional GC and Litigation Services), etc.—across its portfolio of legal services for corporate in-house teams, PE portcos, VC-based startups, and SMBs. This is a conservative estimate based on the publicly available competitive rate information available at the time of this announcement.
²90% of clients say Axiom's talent is as good or better than law firm talent—2024 Axiom active client surveys
³ https://www.thomsonreuters.com/en-us/posts/legal/alsp-report-2023/

SOURCE Axiom