Accurately manage budgets and forecast expenditures
Lecorpio Spend Management
Lecorpio Spend Management provides a comprehensive approach to managing budgets and forecasting IP expenditures. It organizes processes, and reports key financial data associated with outside vendors including counsel, agents, annuities providers, and others.
With Lecorpio Spend Management, companies can:
Key features include:
Online invoice submission
Lecorpio allows all legal service providers to submit invoices online. Invoices can be submitted in any file format. They are accompanied by detailed line item details and are processed further to line item-based review and analysis. Lecorpio accepts industry standard LEDES formats as well.
“With Lecorpio, we can easily interpret key analytics and get a clear picture of our complex global IP portfolio”
Corporate legal departments can prepare multiple types of budgets such as task-based, phase-based or case-based budgets. Budgets are updated in real time as the actuals are received via invoices.
Validation against corporate guidelines
Corporate legal departments can provide their policies and corporate guidelines through the Lecorpio business rules engine. The rules engine validates each incoming line item against provided guidelines. Line items and invoices are flagged based on the pre-defined rules. Reviewers are able to identify those invoices that need to be reviewed and approved or rejected quickly and those invoices that require additional scrutiny.
Online review and approval
Invoice review and workflow automatically routes invoices for approval and payment submission according to specified guidelines, authority levels and allocated approval times.
Integration with third-party systems
Lecorpio E-Billing integrates with external systems such as accounts payable for approved invoices. The format of the output file, the frequency and type of integration (web services-based or batch-based) can be configured based on a client’s specific requirements.
Analyze and understand data from different perspectives and easily drill down for more detail within a report.
Robust reporting and analysis
Track performance over time.
Complimentary Webinar: Best Practices for Managing Trade Secrets
Attend this 1-hour webinar on Thursday, March 23rd, 10am PT / 1pm ET where James Pooley, Senior Counsel at Orrick and author of “Secrets: Managing Information Assets in the Age of Cyberespionage” will be covering:
- The relationship between trade secrets and cybersecurity/data privacy
- Trade secrets as risk management
- How to design and implement compliant information protection using existing resources
This Webinar is scheduled for Thursday, March 23 at 10am PT. It will run for 45-minutes and conclude with a moderated Q&A.