Legal E-Billing & Spend Management

Legal spend management involves the process of overseeing and controlling expenses related to legal services and activities. A legal spend management solution provides tracking and optimising expenditures, ensuing that legal costs align with the organisation’s budget and financial objectives. This typically involves managing interactions with legal service providers, assessing the efficiency of legal expenditures, and implementing strategies to reduce costs while maintaining the quality of legal services.

Legal E-billing offers several advantages, including streamlined processes for submitting and processing billing information, which reduces the potential for errors and delays. It enhances transparency and allows for easier tracking of billing activities. Additionally, e-billing can improve efficiency by automating routine tasks and providing quicker access to billing data, facilitating faster payments and more effective management of financial transactions.

Improving overall legal operations can be achieved by analysing various metrics such as the total expenditure on legal services, time allocation across different cases or tasks, and the frequency of specific legal activities. This analysis helps identify performance and efficiency levels within legal teams, ensures adherence to budgets, and evaluates the outcomes of legal matters. By understanding these aspects, you can optimise resource use, streamline processes, and make more informed decisions to enhance the effectiveness of legal operations.

While Legal Tracker is designed primarily for corporate legal teams, it has seen significant adoption by law firms, creating a seamless and connected community within the platform. With a global directory of over 120,000 legal vendors, law firms can efficiently collaborate with their corporate clients on Legal Tracker. This widespread adoption ensures a streamlined workflow and fosters stronger partnerships, allowing both corporate legal teams and their external counsel to work together more effectively within a unified, trusted system. Through Legal Tracker, outside counsel can submit invoices, and communicate with your team, ensuring better coordination, transparency, and efficiency in managing legal matters.

Yes. Through application programming interface (API) integrations, Legal Tracker can seamlessly connect with financial systems such as enterprise resource planning (ERP) or accounting software, allowing for streamlined data transfer, synchronisation of financial information, and unified reporting capabilities. This integration enables organisations to consolidate financial data, enhance accuracy, and gain a comprehensive view of legal spend within their existing financial infrastructure.

Choose whether you want your data stored in Australia, U.K., Germany, U.S. or Canada. Your team can work confidently across the globe while knowing your data is safe with Legal Tracker.

Legal Tracker is Thomson Reuters’ core legal e-billing and spend management solution. It is designed to help you streamline and manage your legal operations efficiently. For users with more complex needs, we offer Legal Tracker Advanced, an optional module that adds enhanced features such as customised reporting and analytics as well as additional workflow automation. Depending on the size of your legal department and the complexity of your legal spend management needs, you can choose Legal Tracker for standard management or opt for Legal Tracker Advanced for a more comprehensive solution. Feel free to contact us for a consultation to determine which option best suits your requirements.