Legal e-Billing is well understood and not only in the large law firms. But those unfamiliar with it can be reluctant to use it. Lessons can be learnt from those firms who are experienced using e-billing, have dedicated e-billing teams, and are reaping the benefits.
by Anastasia Hufen, In-House Counsel, Landesbank Hessen-Thüringen Girozentrale Inhale. Exhale. Breathe in the April air, full of vernal confidence and the tempting thrill of spring. Well, back at my desk after a long sunny weekend, I could not help but ask: How can I keep the thrill by challenging my daily workload?! Simple enough: […]
Getting your law firms on-boarded as efficiently and painlessly as possible is a key factor in the overall success of a legal eBilling project. How can you, as a legal department, add value to the process, and start a collaborative eBilling relationship?
Legal spend management technology generates savings for in-house teams in many ways. Using these savings areas, different eBilling software providers will estimate savings from $46,000 to $800,000 per year for a “typical” legal department. However, to truly know the financial impact, the cost of investment must also be considered and this is typically less publicised!
With the increased pressure on legal departments to improve efficiency and control costs, modern legal spend management solutions are a sensible option as they quickly generate savings that exceed the initial investment. A typical legal department can expect to save EUR 445000 in the first year. eBilling automates processes and allows legal departments to identify cost-saving measures both in the immediate term and by making use of data-driven strategies for the future. Here are six of the ways legal spend management can reduce your costs.
The business process of legal e-Billing (electronic invoicing) between an in-house team and outside counsel is rapidly growing and there are many successful implementations from which we can learn lessons. There are some key factors that can assist with the implementation of e-Billing and help ensure that both the in-house legal department and the law […]
Read why your legal department may substantially benefit from legal eBilling and what to consider when selecting a software provider. With over 15 years of experience, author Bryan King is one of the world’s leading figures in the field of legal eBilling. Don’t miss reading his assessment of the do’s and don’ts.
Hiring outside counsel to handle urgent, time-sensitive work (or even ongoing, non-sensitive projects) can be heartburn inducing, particularly if you’re tasked with keeping your team’s financials in line and reducing costs. Here are five battle-tested tips for making sure that the money that you do spend on outside counsel is spent wisely and that you get an appropriate return on any investment.
Cutting costs is a never-ending quest and topic of discussion for legal departments. Like accounting, HR, or marketing, it’s looked upon as a cost center and often at the head of line when cutbacks are targeted.
With an eye toward budget predictability and managing risk, more and more legal departments are looking for opportunities to implement alternative fee arrangements (AFAs) with outside counsel as an element of legal spend management.