Legal spend management maturity: A quick look at our eBook
![Maturity curve legal spend management](/sites/default/files/styles/thumbnail_904x400/public/2024-07/maturity_curve_banner_01%402x.png?itok=_K9us4gz)
Think legal spend optimization is just about slashing costs? Think again. It's about optimizing value from every dollar or pound you spend on legal services.
Imagine having:
- Full transparency into where and how spend is used
- Real-time, accurate data at your fingertips for smarter decision-making and automated processes
- Stronger relationships with external counsel, built on clear expectations
- A legal team laser-focused on high-value activities that drive your business forward
That's the power of effective legal spend management. It’s not just about controlling costs. It’s about allowing legal operations to become a powerhouse that adds real value to the business.
In our latest guide, we’re introducing a maturity model for legal spend management–from basic manual tracking to using advanced tech and data insights–so you can see where your business fits now and how it can get a better handle on legal costs.
Ready to learn more? Download your copy of the ebook here. 📕
The four stages of legal spend management maturity
1. Ad hoc or manual tracking: At this initial stage, organizations rely on basic tools such as spreadsheets for expense tracking. While accessible, this approach often results in:
- Increased risk of human error
- Limited spend visibility and control
- Reactive rather than proactive cost management
2. Process implementation: As organizations evolve, they establish formalized processes and guidelines. This involves:
- Established outside counsel policies/OCG
- Agreed law firm rates
- Standardized matter management processes
- Formal budgeting and forecasting
3. Legal technology adoption: Specialized legal spend management software marks a significant advancement. Tools like Apperio offer:
- Automated expense tracking and reporting
- Real-time visibility into spending across all matters and firms
- Data-driven insights for informed decision-making
4. Strategic optimization: At this level of maturity, organizations harness the full potential of their data and systems:
- Use of data and insights to select appropriate law firms
- Insight into what is driving costs, and automated reporting to identify areas for improvement
- Benchmarking to ensure ongoing value
- Proactive discussions on the work in progress for compliance
- Managing legal work as it happens to ensure value alignment and expectations
![Apperio maturity curve Apperio maturity curve](/sites/default/files/styles/large/public/2024-07/maturity_curve_graphic_01%402x.png?itok=XHxvWYB9)
Legal spend management best practices: How to level up
Keen to learn more? Download your copy of the report here for:
✅Practical frameworks for assessing and enhancing your current legal spend management practices.
✅Strategies to improve transparency and collaboration between finance and legal departments.
✅ Advanced methodologies for leveraging technology to streamline processes and improve compliance.
Whether you're a Legal Department Head seeking efficiency or a CFO aiming for clearer financial oversight, this eBook is right for you.
Ready to level up your legal spend management today? Book a demo and our experts will take you through how Apperio allows you to move to management maturity.