We are thrilled to announce that Onit’s customer BT Group plc has won a prestigious Legal Innovation Award in the category of Future of Legal Services Innovation – In-House Legal Operations.
The award recognizes BT’s transformative legal technology implementation that enables their legal department to bring together business, outsourcing and lawyers on a single platform.
As a key step in transforming its legal department, BT selected Onit’s workflow and business automation platform Apptitude to help manage their matters and documents. Within three months, the system was live for matter management and real-time reporting, trend analysis and analytics were enabled across the work being done by the enterprise team. In less than a year, BT had successfully implemented a cutting-edge platform that replaced manual and disconnected process and management tools and helped the department see workload and matter management across the teams from inception to closure.
The Legal Innovation Awards, now in its seventh year, celebrate the outstanding achievements of law firms, chambers, in-house legal departments and alternative business structures. Through recognizing exceptional achievement and best practice, the awards underline the crucial role promoting innovation played by lawyers working in tandem with colleagues in other disciplines such as marketing, business development, finance, IT, project management, operations, PR and recruitment.
About Onit Apptitude
Onit’s business process automation platform Apptitude empowers organizations of all sizes to easily create, modify, and deploy workflow solutions that solve real business problems. Apptitude allows organizations to turn ad hoc, chaotic, inefficient, everyday manual intensive work into manageable defined processes. The no-code platform is highly configurable and scalable and supports an unlimited number of solutions – from department-specific, such as contract lifecycle management, legal spend management, legal holds and legal service requests, to shared solutions across departments including compliance, finance, human resources, risk management, IT, marketing, operations and procurement.
For many corporate legal departments, data analysis is like buying tickets to a cover band for your favorite group and expecting it to be just as good. Sure, the tickets were less expensive but the group is a little pitchy, and they don’t hit the high notes like your favorite lead singer would.
Many corporate legal departments onboard eBilling systems expecting them to play double duty: eBilling plus real-time, data-driven analytics and insights. In almost every case, the legal operations team – and the GC – is disappointed when they realize how long ebilling implementation takes, and that they can’t get the analytics they expected and need.
So what’s the problem? While eBillers can be great at helping you facilitate payments, they are just not set up to deliver accurate analytics or meaningful insights.
Have you ever heard the phrase “garbage-in, garbage-out”? Legal billing data is tricky – it’s inconsistent, mis-tagged or categorized, and many times it’s missing altogether. Sometimes referred to as “bad” or “dirty” data, a messy data set means messy reports and misleading insights.
Unfortunately, eBillers suffer from this garbage-in, garbage-out problem. They don’t do the necessary cleaning and restructuring necessary for accurate reporting, which often leads to poor decisions based on faulty data insights.
Even though eBillers were not purpose-built to surface actionable insights, by layering on a sophisticated legal spend management solution that ingests, cleanses, and enhances your data, you can compound the value of your eBilling investment.
So what’s the impact of “bad” data?
1. Incomplete Narrative on Outside Counsel Spend
It might be easy for you (a human being) to look at an individual invoice and determine that hours billed for ‘Gibson’, ‘Gibson Dunn’, and ‘GDC’ can all be attributed back to the same firm. Computers aren’t as smart. A computer needs the name to be identical to crunch numbers for that firm.
To get your software to do what you need, you would have to make sure that all the mentions of ‘Gibson Dunn’ are the same across all invoices – a near impossible feat to accomplish manually.
As we mentioned, while eBillers are great at facilitating payments, they are not so great at cleansing data. So when you go to an ebiller to crunch numbers – whether about an individual firm or in comparison to other firms, you’re almost certainly not seeing the entire picture. In fact, you might be seeing numbers that relate to less than 25% of invoices per “firm”. The results can be extremely inaccurate and misleading.
You may be thinking, “well, my data is definitely not that bad.” Au contraire, my friend.
Average law firm name standardizations Bodhala processes every year – per client.
Bodhala completes an average of 41,063 law firm name standardization every year – per client. Average annual timekeeper name standardizations per client? 63,552. But don’t fret, you’re not alone. Even the most sophisticated corporate legal teams suffer from this challenge.
Without cleansing and standardizing your data, it’s tough to to accurately analyze key metrics, such as:
Average spend per law firm
Average partner/associate rate per law firm
Average practice area spend per law firm
These metrics are critical to obtaining a clear picture on your overall outside counsel spend. What’s more, you likely rely on these numbers – and many others – to make your most important strategic decisions. Without accurate insights on these data points, how can you ensure you’re really hiring the right lawyer at the right law firm at the right price?
2. Overpaying for Inexperience
Average practice area adjustments Bodhala processes every year – per client.
It’s not uncommon for partners at one firm to equate to associates at another firm. Matriculation standards vary from firm to firm, as do business models. And it’s not unheard of for firms to inflate titles to boost billings. This can lead to misleading data for corporate legal departments.
This lack of title standardization prevents true apples-to-apples comparisons, making it really tough to compare ‘partners’ or ‘associates’ from firm to firm.
Without a basis for accurate comparison, how can you confirm that you’re really getting as good of a rate as your law firm claims? Leaving inaccurate timekeeper levels in the mix enables law firms to continue costly antics that rack up your rates and pad their wallets.
Bodhala completes an average of 2,711 timekeeper level corrections per client every year. Those kinds of numbers can make a serious difference in the average partner rates, making accurate comparisons really tough.
By using a system that will normalize timekeeper levels, you can properly model the rates paid to partners versus the rates paid to associates and ensure you’re getting the value you expect and experience you need for your matters.
3. Inaccurate “Should-Cost” for Matters
When it comes to your matters, you need to have realistic expectations of what they will cost. But a lack of standard practice area taxonomy, and missing or mis-tagged practice areas can leave your team in the dark when it comes to benchmarking upcoming matters.
Without standardization and accurate data, it’s impossible to gauge key metrics such as:
Average practice area spend
Average matter cost
Average matter duration
Again – you guessed it – this is an extremely common problem, even for the most advanced legal ops groups. Per client, Bodhala averages 34,131 practice area adjustments every year. But by using AI and machine learning to clean, standardize, and backfill blank practice areas, we enable meaningful analytics and actionable insights. Bodhala even enhances your data, supplementing it with sub-areas and matter tagging for more granular analysis.
So, where do you go from here?
Armed with insights gleaned from clean data, your team can make more strategic decisions, accurately forecast costs, and ensure you stay on budget.
The events of the past year have accelerated corporate legal departments’ need for and reliance on data. But you don’t just need data, you need good data!
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Get in touchwith our team of legal billing and data experts to find out how Bodhala can transform your legal department.
With mission-critical legal matters in play, it might seem easier to “deal with it later” when it comes to data or budget management. But with companies expecting their legal departments to do more with less, legal spend management software can deliver the tools and data you need to maximize every dollar and improve collaboration across departments. Actively managing your spend – from firm selection to staffing and invoice review – is no longer a nice-to-have; instead,it’s a necessity for modern corporate legal management.
At Onit, we often see corporate legal departments invest real money into eBillers with the intention of simplifying bill payment and supporting data-driven insights. While eBillers are great for paying invoices, they are not purpose-built for providing sophisticated analytics, let alone surfacing actionable insights.
But what exactly should you expect from your legal spend management solution? Here’s just a few of the challenges the ideal software should immediately resolve:
1. Garbage-In, Garbage-Out
One of the core challenges our users often have when trying to extract insights from their eBillers is data quality. This isn’t usually a problem with the eBiller itself; the problem comes with the data fed to it. Missing or inaccurate data leads to misleading reporting, which can result in inaccurate conclusions and poor decisions. This is sometimes referred to as “the garbage-in, garbage-out” dilemma.
A good legal spend management platform shouldn’t just crunch your numbers – it should clean them first. Cleaning and enhancing your data, and then restructuring it into a healthy data set produces the accurate reporting and meaningful insights you need it to deliver. A foundation of cleansed, structured data is essential. It’s the basis for the value of your analytics, and the decisions about how to best deploy your spend.
Average law firm name standardizations Onit processes every year – per client.
Think you don’t have this issue? Think again. Even the most sophisticated legal departments suffer from bad data. Onit processes tens of thousands of data corrections and enhancements every year – per customer.
What to look for: You don’t need a tool to just house your data; you want your data to be processed, cleansed, and enhanced. To do that, it needs AI and machine learning. Without advanced technology, it’s impossible to cleanse data at scale.
2. Uncontrollable Annual Rate Increases
Your law firms might claim that you’re getting the best rates available, but can they prove it?
To get the best, market-appropriate rates, you need market data. That means benchmarking. Benchmarking is a critical part of any good legal spend management system. However, it can’t just be routine benchmarking. The system you select needs to provide smart benchmarks.
So, what is a smart benchmark? Well, you wouldn’t compare the rates for an associate at an insurance litigation firm with the partner rates at a top tier antitrust litigation firm, right? Neither would we.
Make sure the software you select can provide benchmarks that drill down across key attributes like practice area, matter type, and timekeeper level (among others). The software should be smart enough to know which firms play in certain specialties, and to understand that there are tiers within specialties. For example, across specialties, there are “challenger” firms who may have just as much experience, but whose value proposition is to charge less to gain clients from the marquee firm brands. Your system should be smart enough to consider all the above and more when benchmarking.
What to look for: Good legal spend management platforms provide contextually relevant benchmarks, ensuring you compare only similar firms for similar matters. Make sure the software you select not only understands the basics (like timekeeper levels and practice areas) but experience as well. You might be better served going to a smaller regional firm for certain types of matters, and your benchmarks should help you identify those opportunities.
3. Mounting Pressure to Optimize Spend and Allocate Budget Wisely
The business world’s focus on cost-cutting efforts shows no sign of slowing down. As organizations search for more places to optimize, the legal department is in the direct line of fire. But optimizing legal spend isn’t as simple as finding less expensive vendors.
A good legal spend management software will solve this problem. Just like other business verticals, legal can use data to identify optimization opportunities; usually those opportunities take the form of improving work allocation.
Analytics are key here. However, it’s more than just reports. Your legal spend management system should not only provide reports on how work is allocated but insights and recommendations on where allocation can be improved.
For example, you may not need to send every M&A matter to your marquee firm. Or your go-to firm for most matters in a certain practice area may not be allocating tasks appropriately (no one wants a partner doing depo prep, for example).
What to look for: Effective tracking and reporting are a great start, but your legal spend management software should not just provide great analytics about how work is allocated. From firm selection to task allocation, your software should also provide actionable insights on how you can improve that allocation.
4. Inability to Effectively Analyze and Compare Law Firms
What’s the best way to compare your law firms? Until recently, true analysis has been tough. From the lack of hard data to the historical “old boys club” nature of the industry, real analysis has often been placed on the backburner in favor of relationships and market reputation.
Even if you have put together an all-star panel, how do you evaluate your panel firms on performance or rates? How do you know who will provide the most value for the dollar on an upcoming matter while maintaining best-in-class outcomes?
A good legal spend management software is (once again) key. Advanced legal spend management software should not only provide market benchmarking, but also allow you to benchmark your panel firms against each other. Strong reporting is important but purpose-built report cards are better.
Firm report cards should provide visibility not only into the “official” panel firms, but also on any firms you may have used for similar matters. They should include comparisons to the other firms in the panel. For example, on average, how much more or less are a certain firm’s partner rates than the panel’s overall average partner rate? What about average hours billed per matter? Or average matter cost in specific practice areas?
A good firm report card isn’t just useful to you – it’s also useful to your firms. Sending a report card on a regular basis that provides aggregate comparisons to your other firms doing similar work (panel or not) incentivizes better behavior, tighter rate control, and attention to detail.
What to look for: Look for software that makes it easy to not only benchmark the market, but also allows you to compare your current panel of firms. The best legal spend management software will carefully package up those benchmarks into convenient report cards that can be shared with your firms on a regular cadence. This is not only convenient for you, but it’s also a powerful tool for tacit management. Sharing firm report cards on a regular basis will ease potentially tough conversations by giving you a factual basis for your discussion.
So, what’s the takeaway? Everyone, from CFOs to board members, is demanding accountability and transparency on how every dollar is spent. That means actively managing your outside legal spend is more important than ever.
But you can’t manage what you can’t measure. As data plays an increasingly indispensable role in managing your legal spend, best-in-class legal spend management software is no longer a nice-to-have — it’s a must-have.
Most corporate legal departments needed legal spend management software yesterday! Time is money, and the more time you go without leveraging sophisticated legal spend management software, the more money you’ll see drained from your bottom line.
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Get in touchwith our team of legal spend management and data experts to find out how Onit can transform your legal department.
When you ask today’s busy lawyers what they most need from legal AI, the answer is tools that help them be more productive like CLM AI contract redlining software.
While much of life might have gone on pause in the last year, contracts didn’t. In fact, lawyers have been handling more contracts than ever. For most companies, hiring more staff just to handle contracts isn’t a viable option. How, then, can lawyers speed up the contracting process and boost their productivity? The answer is having the right technology and features, like the features you can find in the right legal AI contract lifecycle management solution.
Take, for example, redlining contracts.
There are a lot of products and software that claim to help increase the efficiency of your contract review, but does your current contract AI redline your contracts for you? It should.
Contract Redlining Software to Help Protect Your Company From Risk
In a typical legal team, junior lawyers can be tasked with first-pass contract review, with the goal of flagging any issues that appear problematic or go against company standards. For example, if a third-party contract has a questionable clause, the junior attorney will usually circle the clause in red pen or mark it digitally and send it up the chain to senior lawyers for review. The senior lawyers would then review the clause and determine whether it’s something the company is willing to accept.
It doesn’t always go that smoothly, though.
Today’s busy lawyers are handling multiple tasks at once, while also juggling the demands of an increased workload and remote collaboration, meaning that errors can happen. If that clause is on page 45 of a 50-page contract and the lawyer has been reviewing it for several hours, it might not always get the attention it deserves due to fatigue or other priorities.
AI legal document review supports the contract review process and reduces the chance of human error. The contract redlining process is critical to protecting company interests. It’s also a fairly standard process, though it has historically been inefficient and time-consuming. All these factors make redlining a prime candidate for CLM AI.
What if there is a way to automate that first-pass review, better flag potential issues and get the whole job done in less than two minutes?
The Benefits of Redlining by CLM AI
Tapping into legal contract AI with automated redlining software is an incredible advantage when it comes to keeping up with increasing contract demands. It also creates a legitimate solution for reducing attorneys’ low-value, busy work.
Contract AI redlining isn’t only a tool that’s useful for lawyers – it’s also a great way to allow other business units, like sales or procurement, to engage in self-service. These other departments touch the company’s contracts all the time, but they typically have to wait in line to have their contracts reviewed by legal when they come in.
With ReviewAI contract management, business users can run an AI-powered redline in less than two minutes, spot potential issues right away, determine if there are problems to solve and then automatically escalate critical issues to legal as necessary. The redlining provided by CLM AI essentially allows business users to self-service the review of common contracts such as NDAs.
As with any contract AI, automating the redlining process isn’t replacing lawyers, it’s helping them be better at their jobs. It even performs a critical training function for junior lawyers and new legal team members. Company playbooks are based on decades of institutional knowledge. As junior lawyers see the AI data extraction results the software produces, they learn the playbook, essentially learning from the company’s best and brightest.
ReviewAI contract management from Onit redlines and automates your contract review, applying your playbook to find the things humans might miss and looking for any crucial terms that are missing. CLM AI takes less than two minutes, speeds up contract review by up to 70% and increases productivity by more than 50%.
Legal invoice review is a necessary process for corporate legal departments and also notoriously complex and time-consuming – even with business rules applied. Nevertheless, legal departments spend countless dollars every year for in-house counsel and other professionals to manually inspect invoices, whether flagged or not. That’s time wasted on administrative tasks that in-house professionals can reallocate to higher-value work and strategies.
That’s all about to change.
Today, Onit announced the debut of InvoiceAI for its customers. The artificial intelligence offering for first-pass legal invoice review and analytics decreases the burden of invoice review while providing insights into spend analytics.
An Intelligent Review
The sheer volume of legal invoices has pummeled Fortune 500 corporate legal departments for years, challenging corporate counsels’ ability to understand and control legal spend and build productive partnerships with law firms.
Even with flagged invoices, corporate counsel can face a large number of line items on each invoice to reconcile and miss noted issues or errors. Enforcing outside counsel guidelines is complicated even further with issues like vague or incomplete invoices, improper block billing, incorrect coding and more.
InvoiceAI builds off Onit’s existing billing rules engine, enhancing the invoice review process by incorporating machine learning and natural language processing to more accurately and efficiently identify invoice issues that need further review. Our machine learning models identify potentially problematic billing issues like administrative tasks or travel and integrate with existing eBilling, legal spend management and enterprise legal management technologies. What you get is an intelligent review that learns more as you process more invoices, plus all the advantages of our configurable rules engine – the best of both worlds when it comes to understanding legal spend.
AI-Powered Invoice Review Leads to Significant Cost Savings
While InvoiceAI’s models continue their training, the offering is already used to analyze past invoices and identify potentially non-compliant charges under company billing guidelines and legal spend management best practices.
A select group of Onit Fortune 100 customers ran InvoiceAI through historical bills with significant results. InvoiceAI uncovered on average of 6-11% unactioned errors for invoices submitted in 2020, above and beyond the savings that Onit’s rules-based invoice review tools had already found.
For example, even though 2020 was a notably slow year for travel, InvoiceAI identified travel charges in the high six-figure range that should not have been billed.
On top of better invoice review, you also get powerful analytics. The results generated by InvoiceAI can serve as a learning tool for outside counsel, giving them a clear report on the core commercial expectations of the companies they represent. The reports are also beneficial for demonstrating immediate savings in outside spend to internal stakeholders.
The Future of Legal Invoice Review, Ready Now for Customers
InvoiceAI is available to Onit customers now and will be generally available to the public in the fall.
AI-enabled invoice review from SimpleLegal, Onit’s subsidiary, will launch this summer, with availability open now for select existing corporate legal customers.
If you’re currently an Onit or SimpleLegal customer and you want a complimentary AI analysis of the last 90 days of your billings, contact your account manager today.
If you’re not currently a customer but want to learn more about how InvoiceAI can improve your legal invoice review and legal spend management, contact [email protected] today.
Check out Bodhala CEO, Raj Goyle’s, latest feature in Bloomberg Law on how in-house teams can leverage data to identify opportunities, navigate strategic decisions, strengthen outside counsel relationships, and run their legal departments like a business.
More companies than ever have leaned into digital transformation, recreating processes and technologies associated with essential business processes such as incident and compliance investigations. Swiss pharmaceutical company Roche perfectly exemplified this type of innovation when it adopted a workflow automation platform to streamline its investigations.
Over the course of the decade, the company shifted from paper to digital spreadsheets to manage the incident and compliance investigations process and eventually implemented a case management system. However, they found the case management technology to lack the flexibility for continued innovation. The vendor could not quickly provide updated features and lacked simple conveniences such as presenting dates in the European format.
Roche quickly pivoted, a process discussed in a recent webinar held with Swiss LegalTech Association (SLTA), Onit and Kroll titled “Managing Compliance Investigations with Workflow Platform Technology at Roche.” Speakers included:
Sébastien Bergier, Director Internal Investigations, Roche
Imran Khan, Computer Forensics Manager, Roche
Matt DenOuden, Senior Vice President of Global Sales, Onit
Roger Jarman, Director, Legal Management Consulting, Kroll
Christoph Kueng, President, Swiss LegalTech Association
Nicolas Torrent, Vice President, Communication and Marketing, Co-head Geneva Chapter, Swiss LegalTech Association
Tackling Compliance Investigations with Workflow Automation
For Roche, a case management solution was critical not just for their teams to run their cases effectively, but also for senior leaders to have access to insights and trends in incident and compliance investigations. In addition, they wanted a system up and running as soon as possible that would cover their basic needs without compromising the integrity of their investigations and then evolve that system over time. After all, technology develops rapidly and businesses need to evolve in line with it.
The answer to building a proper case management system was to dismantle current processes that weren’t working. Roche then rebuilt by partnering with Onit and Kroll, exploring how the company managed its investigations, how they wanted to evolve them and what analytics they wanted to put in place.
With Onit Apptitude, Roche quickly built a front-to-back solution to manage the entire lifecycle of investigations. Thanks to the team’s vision, Onit and Kroll, the company introduced a solution that reduces risk by bridging the gap between legal, compliance and other departments. According to Roche, Onit Apptitude quickly and efficiently provided a visual on how the system would look and function.
Roche’s first iteration was ready in three months and went live within six months after that.
You can listen to the entire webinar and learn more about Roche’s transformation journey here.
What a decade it’s been for Onit and legal tech. We’re celebrating our 10th anniversary with several significant milestones over a decade of groundbreaking achievements in legal technology.
Onit was co-founded in 2011 by CEO Eric M. Elfman, COO Eric Smith, Vice President of Marketing Jill Black and Vice President of Products John Gilman. Their goal: to create legal tech that makes it easier for in-house counsel to practice law.
Today, Onit has more than 400 employees worldwide and 10,550 corporate legal and law firm customers and offers workflow automation, enterprise legal management, AI, contract lifecycle management and more. Going forward, we plan to continue our strategic growth and expand our offerings to give corporate legal departments even more of the legal tech tools they need to do their best work.
Reinventing Legal Tech
Onit was originally co-founded in 2011 with a focus on legal project management. However, the focus shifted when Elfman and his co-founders brainstormed ideas and made a discovery: Despite half a trillion dollars spent every year in enterprise software, very little of it moved the needle in terms of productivity for end-users. Instead, most workers managed their day through email, which didn’t always work for complex organizations and projects.
Onit’s first platform, Apptitude, solved 95% of the workflow challenges presented by the email-based environment. The company started by creating legal tech on Apptitude for the same solution that Elfman’s first company Datacert addressed – enterprise legal management (ELM), an area that was ripe for disruption.
From Startup to Scale-Up
Onit has gone from two employees and $25,000 in revenue when co-founded to a company with more than 400 employees in 2021. We have helped transform how Fortune 500 companies and billion-dollar legal departments drive operational improvements, processing over $5 billion in legal invoices in the past year alone.
The company’s leadership sees Onit as a scale-up now, a company that will continue to grow in reach and revenue while still committed to the disruption and innovation of its startup roots.
Despite the pandemic, we continue to be one of the fastest-growing tech companies in the Houston area. While others resorted to layoffs, we increased our headcount by 22% and grew revenue by 36% in 2020.
Onit and our customers have used our platforms and products to build over 5,600 Apps and solutions that automate critical enterprise-wide processes such as marketing, sales, HR and compliance. We also launched three new AI-based products in the last year (Precedent, ReviewAI and ExtractAI) and acquired three companies since May 2019 – legal operations software provider SimpleLegal, legal tech AI provider McCarthyFinch and AXDRAFT, a document generation and automation platform.
Looking Ahead for Onit and Legal Tech
As we enter the next decade in the legal tech market, we will continue to grow and innovate. And we will keep disrupting the market. As our CEO says, “We’re not slowing down.”
Contact Onit today to learn more about how our workflow and artificial intelligence platforms and solutions can help you transform your business.
Your law firms might insist that you’re getting the best price they have to offer, but can they prove it? Corporate legal departments are routinely overcharged by outside counsel. With limited access to price discovery, GCs are often stuck without the data they need to effectively benchmark rates, AFAs or other pricing structures.
Bodhala recently partnered with Buying Legal Council to lead general counsels, legal procurement, and legal operations professionals through an insightful discussion on how to leverage benchmarking data to secure a fair market price.
The discussion – fueled by an all-star panel including Bodhala CEO, Raj Goyle, Citi’s Director of Outside Counsel Management, Chris Ochs, and MetLife’s Director of Legal Procurement, John Smith – took attendees through:
The current challenges surrounding law firm benchmarking
The implications of bad data
What metrics really matter when evaluating law firm rates
Check it out!
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Get in touchwith our team of legal billing and data experts to find out how Bodhala can transform your legal department.
eBillers facilitate payment for legal services. They’re great at paying legal bills but were not built to support data analytics – forget actionable insights.
Bodhala is not an eBiller. Bodhala is purpose-built for legal spend analytics to deliver strategic insights and actionable benchmarks so you can better manage your firms and optimize your spend.
But here’s the headline: You save more with both.
The Bodhala Difference: Hercules
eBiller data is very raw – unstructured, chaotic, and impossible to use for accurate comparisons and analysis.
Bodhala’s proprietary machine-learning engine, Hercules, automatically cleanses and organizes your data, filling in gaps and creating alignment across your entire spend.
The result is a clean, apples-to-apples data set that can then be augmented with engineered and 3rd party data to deliver everything from internal and market benchmarking to RFP optimization.
Future-Facing Insights
eBillers use historical data to impact how you pay invoices. Bodhala uses historical data, along with machine learning and 3rd party data to deliver actionable insights and a holistic view of your legal spend.
From optimizing your rate negotiations to firm selection and management, Bodhala’s actionable insights help you shape the future of your firm relationships with informed, strategic decisions.
Granular, Apples-to-Apples Analysis
A restructured, easy to analyze data set means you can compare anything from staffing and partner hours to rates and diversity across firms, practice areas and matter-types.
Bodhala also lets you deep dive and compare individual matters, timekeepers, and even do task cost analysis – unlike your eBiller.
Benchmark Against the Market
Bodhala’s Hercules engine uses machine learning and 3rd party data to benchmark your firms against relevant competitors for similar types of work,. The result is truly valuable ammunition to start rate negotiations with your existing firms or make informed decisions on new firms for your panel.
eBillers also don’t leverage 3rd party data or machine learning, leaving you without any true market intelligence.
ROI Calculation
Without a sophisticated rate tracking system, eBillers can’t project how a rate change will impact your overall spend.
Bodhala’s comprehensive rate tracking system and Savings Calculator accurately projects how broad rate card changes, as well as how minor changes impact your spend. Don’t be afraid to get granular – even an associate rate at a specific firm in a specific practice area can have a significant impact.
Improve Processes & Outcomes
Bodhala not only streamlines the RFP process for rate cards and individual matters. We also help you optimize the outcome.
By providing you with key metrics to inform your decision-making process, Bodhala is a critical partner for effectively selecting and managing outside counsel.
Invoice Review vs Guidelines Analysis
eBillers do simple invoice review, helping identify rate inconsistencies and block billing.
Bodhala takes a holistic look at your guidelines and can identify the simple inconsistencies, as well as an extensive set of other guideline issues from overstaffing meetings to excessive partner hours.
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Get in touchwith our team of legal billing and data experts to find out how Bodhala can transform your legal department.
As a key step in transforming its legal department, BT selected Onit’s workflow and business automation platform Apptitude to help manage their matters and documents. Within three months, the system was live for matter management and real-time reporting, trend analysis and analytics were enabled across the work being done by the enterprise team. In less than a year, BT had successfully implemented a cutting-edge platform that replaced manual and disconnected process and management tools and helped the department see workload and matter management across the teams from inception to closure.
Reinventing Legal Tech
From Startup to Scale-Up
Despite the pandemic, we continue to be one of the fastest-growing tech companies in the Houston area. While others resorted to layoffs, we increased our headcount by 22% and grew revenue by 36% in 2020.
