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”
 

 

 

Passport® Platform

Our patented ELM technology platform.
 

TyMetrix® 360° 

SaaS-based e-Billing and Matter Management software solution.

LegalVIEW® Analytics Offerings

The world’s largest source of legal
performance data.

Need more information

Call sales at +1 800 780 3681

Call sales at +1 800 780 3681