Law firms are facing unprecedented pressures on fees, billable hours and earnings.
In recent years, growth in the sector has slowed due to a decline in Mergers & Acquisitions and a reduction in existing and potential clients. This has resulted in increased competition and has forced law firms to identify new ways to drive profitability.
For some, the response is to focus on the easiest target – the cost of external counsel – and the reflex is to increase hourly rates. However, a better resolve for law firm management is to take a closer inspection of the systems, processes, and controls for spend.
Intelligent guided buying - making it quick and easy to get what’s needed
Automated account coding, budget checking and upfront approval that removes the downstream administrative tasks around invoice processing
Disbursement Management – automated management of client expenses so they are always recovered.
Find out more about how we can help law firms increase purchasing visiblity, elimate maverick spending and streamline invoices.