KPMG Law and the legal tech company BusyLamp are launching a holistic legal spend management consulting solution that helps legal departments efficiently manage their external costs and realize potential savings.
“With our diverse Legal Tech Solutions, we accompany legal departments in companies on their way from being a cost factor via comprehensive modernization to becoming active business partners,” explains Philipp Glock, who is responsible for Legal Tech at KPMG Law. “The focus of Legal Spend Management is the coordinated mandating of external law firms in order to be able to leverage potential savings.” This is because many legal departments were still operating on a decentralized basis, foregoing the use of their market power and not consistently exploiting their cost-saving opportunities due to a lack of coordination.
The technology-based legal spend management solution is structured by KPMG Law in cooperation with the legal tech company BusyLamp. As part of the joint approach, BusyLamp is responsible for the software, whose implementation KPMG Law supports with legal and process management expertise. In this way, all relevant structures in the company are aligned in the best possible way with the use of the tool. Legal departments are laying the foundation for digitization and automation by thoughtfully optimizing the relevant workflows – an aspect of essential importance for the technological transformation of legal work.
Based on an assessment of the existing processes, KPMG Law defines the data categories together with the respective legal department and designs optimal target processes individually for the specific legal department. “Our tool is based on a concept that not only includes a law firm panel for external mandating,” explains Dr. Manuel Meder, CEO of BusyLamp, “but also pooling of orders for discounting as well as approval processes, reporting, benchmarking and forecasting.” As a result, the client saves costs in external mandating, reduces the workload in this area, thus increasing its efficiency and has all expenses and processes in view and under control at all times by means of a clear dashboard.
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