Spend Management
Lecorpio spend management application makes budgeting and billing process more efficient for your IP department and provides better insight and more control over the outside legal spend. Fully Integrated with other Lecorpio applications, Lecorpio spend management is the first and the only application that provides an end to end visibility for budget, estimates, estimate revisions, actual and related work product in a single snapshot. Easily adapted to implement established business practices, ensuring all spend authority, role based approvals, and other standard procedures are followed.
Key Features:
Budget management
Corporate legal departments can prepare multiple types of budgets such as task based, phase based or case based budget. The budget is updated in real-time with the actuals received via invoices.
Online invoice submission
Lecorpio allows all legal service providers to submit invoices online. The invoices can be submitted in any file format. The invoices accompanied by detailed line item details are processed further to line item based review and analysis. Lecorpio accepts industry standard LEDES formats as well.
Validation against corporate legal guidelines
Corporate legal departments can provide their policies and corporate guidelines through 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 & workflow automatically routes invoices for approval and payment submission according to specified guidelines, authority levels, and allocated approval times.
Real-time analysis
Analyze and understand their data from different perspectives and easily "drill" down for more details within a report.
Integration with other systems
Lecorpio spend management 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 client’s specific requirements.
Benefits:
Bring structure to your process
Standardize and simplify the billing process across multiple service providers.
Reduces cycle time
Automated workflows reduce cycle time to process invoices.
Ensures compliance
Easily adapted to implement established business practices, ensuring all spend authority, role based approvals, and other standard procedures are followed.
Improved forecasting and planning
Up to the minute visibility into the entire spend
Reduce costs |
