Too often forgotten in the legal world is finances, making sure that the legal department is a profitable part of the business. Part of the blame for that goes to the outdated or legacy systems that many legal teams are still using to manage their legal spend. They rely on a process that counts on uploads to a third-party application and imports to internal department software.
That’s a system that is prone to error and ripe with inefficiencies. It needs to change. Managing that change is all about minimizing the opportunity for users to fall back into old patterns, and a proven way to do that is to provide them with new technology they will like better.
Onit’s legal spend management solution delivers a single platform that allows third parties—such as law firms and other vendors—to submit invoices securely and directly to the corporate legal department. Legal teams can track and manage all of their legal spend to gain a deeper visibility into legal costs, make smarter decisions about how they source legal work and improve the predictability of their legal spend.
Using Onit’s legal spend management solution, business rules can be configured to provide automated review for compliance errors and routing for approval. The solution also provides comprehensive audit invoice review that stands up to internal and external compliance requirements.
Informed and proactive legal department leaders across the globe see the huge advances in technology to increase visibility and efficiency, while reducing risk for their department, and are taking action. If you haven’t done so already, now is a good time to embrace a little change and a lot of great technological innovation. The investment is minimal, and the rewards are considerable.