Streamlining legal ops for private equity firms

Karen Moor | October 6, 2020 | Articles

Like so many private equity (PE) firms, invoices come in at the start of a deal and they are reasonable. There’s time to review them. But as the deal progresses, everyone is running around trying to make it come together and reviewing invoices becomes less of a concern.

All of a sudden, the deal closes and a multi-million dollar invoice appears on someone’s desk. No one feels it’s fair to reach back to the firm and ask, for example, why hours billed months ago are associated with antitrust when the deal should not have included antitrust work.

What Are PE Firms Really Looking For?

PE firms are looking for an easy view into a matter over the course of the deal. They want to be proactive and get ahead of that multi-million dollar invoice before it hits their desk.

They also want to easily and accurately allocate spend across entities, funds, and management companies. Much of this work is being done manually, making it an extremely time consuming process – and this doesn’t even account for time spent gathering the correct approvals across various deal teams.

What if I told you there was a way to automate this process so you could take back hours of your time? Plus, you would have a system of record to track and manage this wealth of information, ultimately allowing you to report on spend, outliers, and key changes within your matters.

That’s where SimpleLegal can help.

The Secret Component of Your Value-Creation Playbook

SimpleLegal is an intuitive legal operations management solution that gives PE firms visibility into their legal spend as well as the work done internally and externally. This means greater control and less reliance on the vendor and/or the finance department.

SimpleLegal provides:

  • Flexible allocations for your legal entities, funds, etc.
  • Custom attributes that you can report on with ease
  • Detailed reports for quick visibility and insights
  • Automated accrual views into unbilled estimates vs actuals

Learn More about the Tech Powering the World’s Leading PE Firms

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Join the innovative PE firms that turn to SimpleLegal to manage their legal ops and see how simple legal ops can be.

See how much you could save with our savings calculator or schedule time with me and my dedicated PE team today so we can discuss your legal ops goals in more detail.

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