Conduent Unveils Innovative Solution to Transform Legal Invoice Review and Validation
Amid COVID-19, companies are scrutinizing costs across every function;
Cloud-based solution leverages advanced analytics and user-centric design to help legal teams refine processes, reduce errors and improve compliance with corporate billing guidelines
Legal Invoice Analytics delivers innovative features to drive a more efficient and accurate invoice reconciliation process. Leading law departments can reduce spend by up to ten percent of expenditure on engagements with external firms and reduce staff overhead in review time by up to 80 percent. This is increasingly important as companies consider cost-saving initiatives to help them achieve financial resilience during this public health crisis.
“When an outsized portion of a legal department’s budget is expended on outside counsel, senior leaders are often compelled to use expense control as a proxy for the value that is delivered. They devote far too many hours on invoicing activities when the time is better spent driving legal strategies for the enterprise,” said
Review of external counsel’s invoices from even a simple single matter can take an average of five hours or more per month. With hundreds of invoices and thousands of line items every month, accurately managing overspend is an extremely costly and sometimes near impossible task. Conduent’s Legal Invoice Analytics technology uses analytics and automation to transform legal invoice review into an intelligent, accurate and streamlined process. In addition to reducing errors and the time that law departments spend reviewing complex invoices, Legal Invoice Analytics also delivers performance benchmarking, advanced analytics and strategic business intelligence to inform legal spend decisions.
Legal Invoice Analytics is the latest in a series of
Conduent’s differentiated services and solutions improve experiences for millions of people every day, including two-thirds of all insured patients in the
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Lauren Masturzo, Conduent, +1-585-307-1788, email@example.com Investor Relations Contacts: Alan Katz, Conduent, +1-973-526-7173, firstname.lastname@example.org Rebecca Koar, Conduent, +1-862-308-7105, email@example.com
Source: Conduent Business Services, LLC