What savings could you achieve with integrated matter and spend management technology?
 

 

The benefits of a matter and spend management solution are plentiful but it can be difficult to quantify the monetary return of investing in technology. Using real case examples from our clients, and third party industry research, the tool below calculates a best – and worst – case range of potential savings in four areas, from invoice processing efficiency gains to data-led strategies for improvement.

 

Get started: Simply input three figures to learn what you could save your department in one year.

 

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ELM Solutions

Here's your results

Thank you for taking the time to complete the Matter and Spend Management Savings Calculator. A copy of your results is below. If you need to revisit in future with different input values, go to wkelmsolutions.com/savings-calculator.


Input values

Select currency for calculation:

Number of resources who will access the system regularly?

Number of legal invoices received annually?

Annual legal fees and expenses?

$

Potential Savings

Invoice Processing 1 iThe value of the time saved with mail handling and administration, invoice review and payment processing. The saving per invoice may range between $4 - $8.

$0 0$
$0 1$

Billing Guideline Enforcement 2 iThree areas of savings are included; automated invoice adjustments applied by the system, reviewer adjustments supported by rules in the system, and law firm self-auditing as a result of adjustment feedback. Savings will range between 2% and 6%, though subsequent years will reduce.

$0 0$
$0 1$

Centralized Data and Information 3 iTime saved in a legal professional's day due to integrated use of systems; information is more easily found, managed, reported on, and shared among colleagues. The range of time saved per day will range from 15 to 45 minutes per resource per day.

$0 0$
$0 1$

Business Intelligence and Analytics 4 iCost savings that can be achieved by using matter and spend information and insights captured by the system to implement specific strategies driven by analytics. Savings between 2% - 6.5% are achievable in year one.

$0 0$
$0 1$

Total Potential Savings iThe lower and upper range of the savings which could be achieved based on the provided data.

$0 0$
$0 1$

 

The tool assumes a number of industry averages to calculate the range of savings. Request a tailored projection specific to your organization.

 

 

 

 

 

 
 

“A typical mid-sized corporate legal department can see a potential first-year savings upwards of $800,000 with a system that enables integrated e-billing and matter management”