Legal Spend Management: Control External Counsel Spend With Better Data

Feel the pressure? That’s the corporate legal department being squeezed on all sides. These teams are facing exposure to greater legal risks, more complex matters, and more global matters than ever before — with flat budgets. ​

Meanwhile, the landscape in the companies they serve — as well as in the outside firms they work with — is changing fast. “The Great Resignation” and cultural shifts around work-life balance are creating staffing and talent shortages. Rates for outside counsel are skyrocketing. All this makes spend management a higher priority than ever. ​

Legal departments must become more effective managers of their budget and staff time, which requires robust data, useful metrics, and effective analysis. Technology can help stretch a legal department’s spend by providing data that goes beyond hourly rates and discounts to inform decision-making that creates a competitive advantage. With the right tools, these teams can practice at the top of their license, offering the highest value possible to their companies. ​

From this whitepaper, you will learn: ​

  • The state of law department technology ​
  • What best-in-class spend management solutions look like today ​
  • Challenges and opportunities for your department

Access your complimentary whitepaper via the form on this page.

Read more about what’s discussed at our recent Webinar: Legal Operation Trends and Spend Management for Legal Departments in Asia, organized by Thomson Reuters and Singapore Corporate Counsel Association here.

About Legal Tracker: A scalable solution that provides visibility of your entire legal department’s operations including legal management, e-billing, and reporting analytics. Request a free demo in SEA | Hong Kong

Learn more about Legal Tracker here.

Thomson Reuters, a worldwide trusted provider of answers, helps professionals make confident decisions, run better businesses and gain competitive advantage in complex arenas – law, tax, compliance, government and media.

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