Save More With eBilling + Bodhala By Onit May 13, 2021 Legal Operations 3 Minute Read 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. — Get in touch with our team of legal billing and data experts to find out how Bodhala can transform your legal department. Today's Popular Post Business Process Management OnitX Legal Holds Management: An Easier Path Through a Challenging Trail Read More Business Process Management Powering Scalable and Rapid Integrations: Onit’s Partnership with Workato Read More Artificial Intelligence Introducing Onit Catalyst – Upping the AI Game for ELM and CLM Read More Subscribe Today Sign up for updates on new posts from our blog. Related Readings Business Process Management OnitX Legal Holds Management: An Easier Path Through a Challenging Trail Read More Business Process Management Powering Scalable and Rapid Integrations: Onit’s Partnership with Workato Read More Artificial Intelligence Introducing Onit Catalyst – Upping the AI Game for ELM and CLM Read More Thank you for subscribing!