LEGAL SPEND MANAGEMENT
Stay ahead of your legal fees before the invoice arrives
Monitoring all relevant data on law firms’ activites in one place ensures on-time intervention and efficient ressource allocation.
Our Clients
From scale up to multinational companies – legal expertise is required in every business. Whether ESG regulations, compliance topics or M&A transactions, legal departments increasingly rely on support from outside counsels to meet the growing demand of legal services from within the business.
But keeping all activities, invoices and budgets under control while working with multiple law firms can be quite challenging.
The challenge: unlocking the black box of legal fees
Legal Departments are challenged to balance increasing demand for legal services under budget restrictions
On average, an in-house lawyer spends 30 minutes validating an invoice. Incomplete or missing narratives and lack of comparison with (standard) billing guidelines make this process time consuming and costly.
Without consistent tracking of accumulated fees against budgets across firms and matters, financial planning and forecasting of legal fees becomes a challenge.
The ‘fire and forget’ approach to managing the increasing number of regulatory requirements leads to knowledge silos, inefficiencies and impedes learning curves based on historical performance, benchmarking and project evaluations.
All legal fees in one place. Just one click away.
Whether you are a General Counsel, Legal Counsel or Paralegal – all team members in a legal department benefit from consalio as a central data hub for all legal costs and activities in the organisation.
Legal spend management: analytics & forecasting of legal costs
Having control over your legal spend is powerful. By analysing matters and their mix and forecasting future needs, consalio enables legal teams to gain valuable insight and proactively navigate increasing complexity and demand while keeping costs under control.
Validate & approve services ahead of the invoice
With hundreds of billable hours submitted each month, our machine-learning invoice review helps you identify deviations from billing guidelines, track fees against agreed rates and budgets, and approve fees efficiently.
Stay within your budget with our monitoring function
Take control of your budget with personalized alerts tailored to your needs, whether it’s thresholds, peaks, limits, or baselines. Adapt your budget allocations according to predicted work in progress (WIP), ensuring resource planning is optimized for success.
Centralised knowledge hub for legal teams
With one platform for all legal spend across the organisation, legal teams can use insights and analytics to share learnings, compare matters and benchmark their firms across the organisation.
AI-supported Legal Spend Analysis
AI-supported Legal Spend Analysis
Let our AI module check your invoices against your (or standard) billing guidelines and identify the saving potential immediately.
1. AI-supported invoice verification:
consalio’s AI module analyzes your invoices and provides full transparency and analysis of your legal spend in the current financial year based on the individual performance records of the law firms.
2. Legal spend analysis & optimization potential:
Use the software with all analyses and evaluations and uncover up to 15% savings potential through efficiency gains and improved “billing hygiene”.
3. Implementation of billing guidelines:
We will show you concrete measures for “rules of the game” in cooperation with law firms that will lead to the optimization of your legal spend. And we support you in implementing them.
For better insights & more transparency - Get In touch with us.
Book a demo now and explore all the possibilities.
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