Quovant, a legal analytics leader with a 20+ year history of helping Fortune 500 and Global 2000 organizations analyze legal spend and law firm performance, recently launched LegalBill, its newest offering for small to medium-sized corporate legal teams.
LegalBill eliminates the cost and complexity of traditional enterprise legal management (ELM) software, while providing powerful tools for managing and monitoring matters, eBilling, legal bill review and performance analytics. And with 64% of buyers of ELM software reporting that their needs aren’t being met, LegalBill’s simplified, intuitive, cloud-based platform allows companies to start seeing results right away.
“We saw an opportunity in the market to build a powerful, yet easy to use platform built on our deep expertise and best practices working with some of the world’s most recognized brands,” said Quovant CEO, Bill Horne. “This is a mature industry that is saturated with complex ELM solutions that simply don’t meet the needs of today’s small to medium-sized legal teams. LegalBill gives them everything they need and nothing they don’t.”
LegalBill centralizes all legal data for improved workflow, collaboration and communication with internal and external stakeholders. Its detailed reporting and dashboards are designed for organizations that are currently using rudimentary methods like paper, Excel and email to manage matters and invoices.
In a 2018 CLOC study, 76% of law departments identify controlling outside counsel costs as a top priority, yet only 30% have successfully reduced the cost of legal services to their company in the past three years. “After more than 20 years in the legal spend management space, we’ve seen just about everything. We know that today’s legal teams are constantly being asked to do more with less, which is in direct contrast to market forces where litigation frequency and outside counsel spend continue to rise at record pace,” said Horne. “LegalBill gives them a modern, powerful platform to consolidate all matter, vendor and spend data, while helping them make better, data-driven decisions, control costs and maintain positive relationships with their top firms.”
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