Controlling the Cost of Outside Legal Counsel
Most organizations need the assistance of outside legal counsel, but your legal team needs to understand, allocate, and control the cost of these external advisors. Our legal spend management system is the only solution built on Oracle Fusion, and it will allow you to review, track, analyze, and report on both in-house and outside legal costs. The goal is to provide your legal team with clear and actionable insights into external legal spending so they can be more strategic in the allocation of matters to preferred outside counsel.
This will increase the efficiency of the legal department, helping them to identify and keep track of opportunities to reduce costs. Ultimately, they can create spending management strategies to achieve sustainable savings for years to come. Our spend management system also incorporates the use of analytics as a way of increasing visibility into legal spending. It takes the simple auditing function to the next level. Based on a standard set of codes known as Uniform Task-Based Management System (UTBMS), our e-billing tools also provide you with relevant billing data, which can be used for informed decision-making that eliminates the cost of third-party e-billing vendors.
Please contact us if you’d like to learn more.