Sentences with phrase «legal spending»

One of the claimed benefits of legal spend management software is to use AI (artificial intelligence) to examine electronic legal invoices, then challenge expenses that look erroneous or excessive.

Did you know that the industry's fastest growing area of legal spend management is the use of external third - party invoice review services?

Larger companies, with $ 1 billion or more in revenue, are on track to move another $ 1.1 billion in legal spending in - house.

«Reducing legal spend without reducing quality,» one respondent, explained of the situation in an open - ended question.

In legal operations, we can adapt this model to provide a useful framework for legal spend management.

In this free guide, we show the key reports and performance indicators we use to help clients better track data, manage cases and report on legal spend.

The last two products are designed to assist customers in managing legal spend.

The legal team may have been cut, they may have been told to reduce their external legal spend by 20 % or more and to make it more predictable.

Legal procurement «veterans,» those with 5 or more years of experience, were characterized as «highly successful» and reduced legal spend by 15 percent on average.

This on - demand webinar explores new processes for getting oversight of outside legal spending, and e-discovery in particular.

Both reports look at six key metrics however, the year - end report seeks major trends in corporate legal spend.

But a series of high - level questions provides some great validation for common sense budgeting practices as critical to achieving control over legal spend.

More and more firms are employing legal project management techniques to control legal spend.

And the larger the pool of legal spend data a tool can access, the more reliable its insights are because its sample size represents more transactions over a longer time period.

Yes, there is form - filling and box - checking ripe for automation, but it's not nearly as large of a percentage of legal spend as some let on.

With the information in this report, you can take strategic and tactical measures to manage in - house and external legal spend more effectively than ever.

As legal and regulatory risk has moved up the agenda, in - house teams have moved to keep a lid on what had become ever - increasing legal spends.

Several panels and speakers talked about how the old metrics, like how much to cut legal spend, need to be viewed in the context of improving business outcomes.

Today court reporting services have quickly become an area that many corporations are looking to as a way to reduce the overall legal spend of the organization.

For average legal spend budgets in 2012, 30 per cent were under $ 500,000 with the same percentage falling in the range of $ 500,000 to $ 1 million.

The median inside legal spending was $ 12 million worldwide.

And we also ask about legal spend so that we can track what the next 12 months will look like, what the opportunities will be.

Get the best Legal Spend Management solution available powered by a sophisticated rules engine that automatically adjusts charges to match your billing guidelines.

Common areas of consulting and technology implementation include contract management, matter management, legal spend analysis and convergence, and portfolio litigation management.

This point reinforces the importance both of budgeting and, by the implications of Lesson # 1 above, doing so through internal legal spend where accuracy of budgets is a concern.

We work with our client to establish their anticipated legal spend over the coming year and break that down into a monthly allocation which is charged at a flat hourly rate.

Our firm is completely in sync with industry objectives to contain legal spend.

Those in the manufacturing industry may find that budgeting legal spend annually or tracking the life of matter fees and expenses makes the most sense.

Like in all other parts of the business, legal spend needs to be under continuous review and spend needs to be actively managed.

What impact does consolidating legal spend in fewer firms have on outcomes and satisfaction with outside counsel?

In this report, survey respondents provide insight into organizational - level budgeting trends, evaluate 22 different legal spend management techniques.

There are definitely steps you can take to prevent legal spend from getting out of control, but it requires separating reality from delusion.

Are you currently using matter budgets, but don't feel that you have a good way to predict your organization's future legal spend accurately?

They show how you should prioritize and strategically approach legal spend management.

Procurement transactions represent the largest legal spend and highest volume of transactions in most organisations, consequently, the procurement function represents one of the greatest opportunities for these strategies in any corporation.

Our analytics make legal spend more predictable and legal budgets more accurate.

We believe legal spend is an investment, which should provide a return to clients.

It is derived from nearly $ 17 billion in legal spending processed through our systems since 2009.

He specialises in management consulting and helps legal departments with strategy, external legal spend assessments, cost reduction programmes and legal technology.

Legal spend becomes much more directly tied to result not time.

The success was immediate: the team's external legal spend came in significantly below budget.

Though a company's legal function will not use the same profit - oriented metrics as others within the company, this does not mean legal spend should be guided by mere intuition.

By working proactively with clients on a knowledge and skills transfer providing risk based advice, I help them manage their workforce legal spend.

So why does corporate legal spend still resist most attempts to apply the kind of rational discipline painfully familiar to other commercial suppliers?

It's «a start» she said and indicated the long term goal is to harness the department's own legal spend data to negotiate with outside legal vendors, she added.

Second, the number of companies using alternative fee arrangements for more than 20 % of their outside legal spend continues to grow.

Similarly, defining legal spend management is subject to a broad range of interpretations.

If you go to a smaller firm, even with a fairly small legal spend, we can be an important customer to them.

A strict review of the solution's functionality more or less checks the same boxes as the more massive legal spend management providers, with more than average attention to usability.