Legal Spend Management
of meaningful legal spend
QuisLex has expertise in designing and implementing guideline development, bill review workflow, process rigor, and technological savvy necessary to implement an effective legal spend management program that will:
- Review 100% of invoices with Six Sigma quality control measures in place
- Correctly and accurately identify non-compliant costs
- Provide the analyses needed to continually improve your external legal spend profile.
- Moderate legal costs through effective billing guideline use
- Audit, track and reveal trends of legal invoice data
- Develop key performance indicators (KPIs) to measure return on investment (ROI)
- Improve insights through predictive modeling utilizing legal spend history and associated data
We provide Legal Operations Support for Spend Management which includes:
- Maintain accurate timekeeper rates and required acknowledgment for each vendor
- Latest invoice status recorded for each matter in billing system including invoice reconciliation
- Invoices reviewed and paid on time per TAT which may include timeliness payment discounting
- SOP creation for all activities (vendor onboarding, matter creation, PO creation, invoice review) to maintain consistency
- Positive vendor experience ensured from QuisLex’s help desk support (e.g., invoice submission and system processes) and quality process that avoid incorrect rejections and communications
Pre-Assessment QuisLex will review your current legal invoicing environment including a readiness assessment, program review, legal spend type and amount, as well as client end-state expectations. Based on this assessment, QuisLex will develop a project roadmap and execution plan including milestones, deliverables, and project timelines.
Review Client Billing Guidelines Our team will review your billing guidelines and obtain feedback and clarification for the specific rules to be applied to the invoice review. We will also prepare non- compliance reduction reason codes and language for feedback and tracking.
Appraise Internal Processes: ebilling and Legal Platform Existing processes will be mapped and the expectations for process improvement to overall invoice review efficiency will be identified, including:
- An assessment of system flags and logic for relevance and accuracy.
- Identify required system-specific rights and hierarchies necessary to fulfill process expectations.
Data Analysis The total legal spend volume and associated data will be assessed for statistical validity and accuracy. This data will help to identify trends by matter, firm, and biller as well as determine supplemental data needs to support analytic capabilities.
Baseline Results for Improved Future State Assessment We work with you to define strategic KPIs that are meaningful, actionable and enable performance benchmarking based on such factors as outcomes, billing variances, budget variances, expense ratios, adherence to project plans and other metrics that will support strategic planning and budgeting.
QuisLex not only measures KPIs related to legal spend, but will assess the value of the implemented legal spend program against initial expectations. Baselining and reporting on results of the legal spend management program will form the basis of continuous improvement of the program and help deliver maximum ROI and strategic business benefits over time. QuisLex will further develop visual representation of KPIs to provide scorecards and “dashboards” to highlight areas of opportunity.
With over 1,000 permanent employees on staff, QuisLex offers legal spend management support for corporate clients across a wide range of industries. To learn more about QuisLex’s services and how we help companies manage their legal spend, contact us today.
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