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While events and in-person meetings are on pause in the age of COVID, Bodhala has fully embraced the opportunity to learn and connect with others virtually.
Earlier today, Bodhala participated in Consero’s Virtual Knowledge Bridge – Leading An In-House Law Department Through Uncertain Times: Challenges & Opportunities For The Legal Operations Practitioner.
Throughout each session, leaders from top Fortune 500 companies shared how their legal departments have pivoted throughout COVID.
Here are our main takeaways:
Bodhala CEO and Co-Founder, Raj Goyle led attendees through examples of cost pressure challenges our clients’ legal departments have faced during the pandemic and how they leveraged Bodhala’s platform to take back the reins from their law firms.
As company executives evaluate spend categories with a keen eye, the need to optimize legal spend has become even more urgent.
The key to implementing meaningful change is through data.
Everything you need to know about outside legal spend is housed in data – from top timekeepers to average hourly rates, and everything in between.
If you’re considering relying on your e-biller – think again.
Data pulled from e-billers is typically chaotic, and more often than not, inaccurate. Check out our infographic, 7 Reasons Why You Need More Than an E-biller to Create a Winning Legal Department, to learn more.
Now, more than ever before, companies are relying on their legal operations team to deliver actionable, data-backed initiatives that can guide the business through COVID and set the stage for a successful future.
Bodhala is here to help.
Hercules, “the god of all analytics platforms” is Bodhala’s trailblazing proprietary database that operates as a single source of truth for legal data, and provides our clients with a 360 view of the legal market.
Running on Hercules, the Bodhala platform has an intuitive dashboard that analyzes:
Our clients’ legal operations teams have championed their roles in response to varying cost pressures fueled by COVID.
With our platform, these legal teams have utilized data and metrics to review invoices with heightened scrutiny, implemented scorecards to create true side-by-side comparisons of law firm rates, shifted rate card negotiations to finance and procurement in order to focus on mission-critical work, and more.
Even during times of economic turmoil, the legal industry continues to respond with inflated fees and a refusal to hold timekeepers accountable. This has a tragic consequence for your business.
Find efficiencies in your company’s legal spend — we’re here to help. Contact us to learn how Bodhala can assist with your spend optimization efforts.
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