Buyers Guide to Legal Spend Management Solutions

This guide presents considerations for selecting legal spend management or e-billing solutions. It outlines the confusion in the market regarding legal technology tools for law departments, which stems from similar terminology used by vendors. The document details ten critical considerations, starting with the importance of aligning with stakeholders on goals and objectives. It highlights the necessity of automated real-time data collection for effective spend management, addressing issues such as visibility into work-in-progress, accruals, and historical spending. The guide also discusses the significance of being informed about shadow legal spend that may occur outside proper channels. Additionally, it emphasizes the onboarding process for such software, which can vary in complexity and time required. The document stresses the impact of legal spend management solutions on relationships with law firms and the need to foster a collaborative environment rather than an adversarial one. Overall, the guide aims to assist legal departments in making informed decisions regarding their spend management solutions.