Being able to easily view how much the legal department is spending on outside counsel is an essential step to managing costs. Legal eXchange™ has powerful, integrated reporting that provides companies with new opportunities to analyze and map legal spending. One-click reporting with Legal eXchange explains spending by invoice, law firm and matter. Users can easily create customized reports for their specific needs.
Legal eXchange's sophisticated reporting capabilities provide detailed information on how each outside law firm is performing against the guidelines you negotiate. As invoices are collected through e-billing, reports can be pulled real-time to provide critical information for better decision making.
The ability to benchmark performance helps legal departments to make more informed decisions when assigning work, ensuring the best matched firm to the matter at hand. Standard reports include:
- Lifetime cost of a particular matter
- Amount spent per year by practice area, such as litigation or intellectual property
- Amount spent per year on a common task, such as deposition preparation
- Number of hours spent by each level of timekeeper (partner, associate, paralegal, etc.)
- Comparative costs from year to year in any area
- Real-time reports on budget vs. actual expenditures.
Integrated reporting sets Legal eXchange apart from other Legal Spend Management solutions in the marketplace. When implementing Legal eXchange, your company will benefit from Bottomline's knowledge and industry expertise in many ways: reporting is just one of those benefits.
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More than 6,000 law firms use Legal eXchange on a daily basis to submit electronic invoices to corporate legal and insurance claims department clients. Request our list of law firm users. |