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: Understanding and Preparing for the Unitary Patent System
Attend this compliementary webinar where European IP expert Bart Lieben will cover:
- Benefits and Risks of Participating in the Unitary Patent System
- Processes for Opting-Out of the Unitary Patent System
- Enforcement in the Unitary Patent System
This Webinar is scheduled for Thursday, April 27th at 10am PT. It will run for one hour and conclude with a Q&A.