The guide identifies six core areas where e-billing software saves money, and gives calculations for them:
- Ensuring law firms adhere to pre-agreed billing guidelines
- Real time cost tracking and transparency, which reduces invoice surprises
- Time saved by automating invoice processing and review
- Electronic and automated legal matter and spend reporting
- Legal analytics for data driven, strategic decision making
- Effective, fair, consistent legal service provider and law firm sourcing
The guide also includes information on typical costs to factor in your return on investment (ROI) calculation, including:
- Software costs
- Implementation fees
- Internal IT and project costs
- Training and support costs
- Upgrade costs
The benefits of e-Billing and legal spend management software are well documented, but it can be difficult for legal departments to make the business case for investing in the technology.
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This BusyLamp guide describes six different ways e-Billing will save your legal department time and costs. It assigns an estimated monetary value calculation to each of these benefits, even those difficult-to-quantify productivity benefits so you can translate them into savings. Expected project costs are outlined too, so you can factor them into your overall return on investment.
