Legal Spend Part 2: Unlocking Legal Department’s Value

If you remember we are still sharing how you can demonstrate the strength of the legal department’s value. In case you missed the last article in this series, tap this link for a recap: Legal Spend: Unlocking the Legal Department’s Value Part 1.

In this article, we explore how our Matter Manager solution can help you track and manage legal spend, in a way that demonstrates your legal department’s value to your organisation.

In-house counsel or corporate legal teams can digitise their legal department by implementing several strategies.

Tracking and Managing the Legal Department’s Value

Matter Manager offers the legal department the ability to track and manage legal spend. 

It’s a two-step approach:

  • As you input your data into the system, such as invoices, our dashboard gives you the ability to track your legal spend.
  • Double-check your legal spend and budget against the info you put into the system.

Matter Manager offers the ability:

  • to be notified
  • to manage your legal spend through chosen metrics and milestones unique to your company.

You can do the following with Matter Manager:

  • Setting a Budget – Matter Manager is a tool that helps you keep track of your legal expenses.
    • It sorts your bills into two categories: debtor bills and creditor bills.
    • This makes it easier to understand where your money is going.
    • You can also save your bills for each legal matter you have and link them to the people who provided the legal services and the specific stages of the case.
    • This makes it simple to check who the bills belong to, and when they were sent or received.
  • Managing Invoices – Matter Manager helps you keep track of your legal expenses by categorising your bills as debtor or creditor invoices.
    • This makes it easier to see where your money is going.
    • You can also save your bills for each matter and link them to specific service providers and milestones.
    • This makes it simple to check who the bills belong to and when they were issued or received.
    • The invoicing module that Matter Manager offers, allows for bulk upload of invoices with the simple click of a button.  The invoices are then saved against both a matter and the relevant service provider or debtor, as the situation requires. 
    • With the built-in AI engine, the invoice is automatically broken down into its various line items. This gives the user the ability to approve or reject not just the invoice as a whole, but rather the various individual line items making up the invoice.

In compliance with the organisation’s delegation of authority, the proper ‘chain of command’ can be configured in the system and can be automated.  Automatic notifications are sent to the relevant person/department or team, when an invoice is uploaded, approved, partially approved, rejected or even paid.  As the delegation of authority is followed, that progress is saved and tracked in MM, against the relevant matter in real-time, making follow-ups and queries so much easier to deal with.

As a natural consequence of the invoice management module, the organisation will be able to see who their most commonly used service providers are, which providers are being paid more for less quality of work etc.  This will enable the organisation to make holistic and well-informed decisions about their service providers and better negotiate their SLA’s with them.

You can find out more by simply calling us on +27 11 719 2000, emailing us on in**@le***********.com  or booking a demo with us by following this link: Schedule time with one of our experts.