Many e-Billing and legal spend management solutions are implemented to eliminate manual efforts and drive process efficiencies so in-house attorneys can focus on what matters most – practicing law.
A study on The Business Value of Legal Spend Management Investments by Blue Hill Research echoed these benefits and revealed that by implementing e-Billing and an automated invoice process, corporate legal departments effectively reduced legal spend by 4.5%.
Not All Approval Workflows are Created Equal
While most in-house legal departments would be content with 4.5% legal spend reduction, we argue that there are even more savings to be had.
The bill review and approval process is complex, especially in larger organizations. Multiple approvers need to be integrated into the process, and how an invoice or document is routed through an organization is, more often than not, dependant on company attributes like size, vertical, business units, countries, and specialization (i.e. patent or litigation heavy companies). Companies may also have approval routing based on approval authority limits (i.e., dollar thresholds) or a need for parallel approval routes.
An out-of-the-box solution with a preset approval chain fails to meet the needs of a modern legal department with more complex workflow requirements, and thus fails to deliver all potential savings. Automating workflows saves time and reduces errors so your legal department can complete work much faster – and we all know that time is money, so allowing them to focus on higher priority tasks is another budget saver.
Set Workflows Based on Your Business Requirements
Unlike legacy solutions, SimpleLegal gives in-house legal departments the flexibility to set up intricate workflows based on unique business requirements. You can easily set up your own approval workflows, integrating the right approvers in the process at the right time, essentially winding a document through the system in a specific way.
This feature gives corporate legal departments and legal operations more control over the order of approvers and creates a customized approval workflow. Plus, by controlling the order of approvers, legal teams have a clear understanding of why invoices flow in a certain way.
Flexibility without Sacrificing Simplicity
Flexibility can sometimes cause unnecessary complexity. At SimpleLegal, we understand that the more flexibility you have, the greater the chance to over-complicate what should be a straightforward task. That’s why we spend a lot of time and effort staying true to our name and keeping our system simple. We make sure to balance flexibility against the ability to apply your specific rules so you’re not overwhelmed by unnecessary features – a common issue with legacy legal technology.
For more information about SimpleLegal’s automated approval workflows and modern e-Billing and legal spend management features, schedule a demo with a SimpleLegal representative today.