Case study
How a world‑leading power equipment manufacturer modernized legal operations
Using Thomson Reuters Legal Tracker and HighQ, a world-leading power equipment manufacturer reduced outside counsel spend, improved reporting, and streamlined global contract and document management
Versatile legal solutions for business success
A world-leading manufacturer of power equipment has used Thomson Reuters Legal Tracker — the leading-edge software for matter and spend management, e-billing, and benchmarking analytics designed specifically for corporate legal departments — for many years. More recently, it adopted Thomson Reuters HighQ, the modern, adaptable legal operations and business management software solution that simplifies legal processes, to optimize document management and contract lifecycle management.
Both solutions align with the legal team’s goal of using modern, best-in-class technology to stay competitive, and both have delivered significant efficiency gains, cost savings, and business benefits.
Millions of dollars
Saved in outside counsel spend
Centralized hub
Single system for contracts and documents
Improved visibility
Real-time insight into contract status
Controlling costs and facilitating reporting
By tracking and reviewing invoices from outside counsel and auditing external law firm costs, the company has tight control over its legal spend.
“I can tell you that with Legal Tracker we have saved millions of dollars. Our outside counsel spend has drastically reduced year on year. That’s a huge ROI for us.”
Legal Operations Manager
The manager describes themselves as “a huge Legal Tracker fan.” One of their favorite features is the reporting functionality, which makes report creation incredibly simple. In their opinion, “You can do anything you want so easily and create a report at the drop of a hat. That has been so great — producing analytics and extrapolating data for my bosses.”
Streamlined contract management
The company’s legal department is now rolling out HighQ globally. It chose HighQ to enhance its document and contract management processes from end to end — to make them more efficient, increase visibility, and facilitate internal and external file sharing.
“The biggest issue we faced was in having our arms around contract management,” explains the Legal Operations Manager. Now, it’s easy for the legal team to access and collaborate on contracts and agreements via HighQ acting as a connected, centralized “hub.”
The versatility of HighQ was impressive. “We were able to check off two tick boxes with HighQ — the document management system and the contract lifecycle management system. I don't know anywhere else you can find one solution that checks two boxes like that.”
The connectivity between HighQ and other platforms is another major benefit. “We have HighQ streamlined with DocuSign, so everything is done within one system. It’s amazing,” adds the manager.
Self-service document creation
“Self-service” document automation options in HighQ are also gaining use. The legal department has configured HighQ to provide structured direct access to selected business teams — notably the procurement team — so they can auto-generate standard documents such as sales contracts themselves, within a predefined framework. “With HighQ, we are empowering the business to produce very easy and simplistic documents themselves. We've never had this before,” says the manager.
Looking ahead, continuing their innovation journey is crucial. Next, the law department is exploring how CoCounsel, the AI-powered legal assistant from Thomson Reuters, can be deployed to drive further efficiencies.
Challenges
The company’s legal team wanted greater transparency and control over legal spend and a more sophisticated, easier way to manage the contract lifecycle, including smoother document sharing, increased visibility over contract status, and more efficient processes.
Why Thomson Reuters Solutions?
Legal Tracker delivers powerful legal spend review and monitoring capabilities which have generated significant cost savings. HighQ provides a versatile platform for document and end-to-end contract management, with document automation capabilities and integrations with other applications.
Benefits
- Deliver major efficiency gains and cost savings
- Provide versatile capabilities
- Improve transparency
- Allow inter-connectivity with other applications
- Drive innovation
At a glance
Industry
Manufacturing
Solutions
HighQ
Legal Tracker
Take control of legal spend with Thomson Reuters Legal Tracker
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