Products

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:

E-Billing

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”

Jamie Rose
 Associate General Counsel,
 Waters Corporation

Budgeting

Budget management
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.

Forecasting

What-if analysis
Analyze and understand data from different perspectives and easily drill down for more detail within a report.

Benchmarking

Robust reporting and analysis
Track performance over time.

Solution Series Webinar: Budgeting and Forecasting

See first-hand how Lecorpio’s revolutionary ‘real-data’ approach to managing IP budgets can enable you to quickly and confidently:

  • Manage budgets directly in your IP management system for greater efficiency
  • Justify budgets to Finance based upon the actual prosecution pipeline and ‘real-data’ reports
  • Create budgets and track expenditures, including accruals, to manage annual spend and OC costs more accurately
  • Forecast expenses based upon actual prosecution pipeline and docket, in order to hit quarterly and annual budgets
  • Gain confidence when working with Finance knowing exactly where you are relative to the overall budget, and work in process

Join this 45-minute live demonstration scheduled for Thursday, May 25th at 10am PT.

Register Now