Infographic

Drive financial gains for in-house legal teams

A commissioned study conducted by Forrester Consulting on behalf of Thomson Reuters models the ROI impact of Legal Tracker — results are for a composite organization representation of interviewed customers

  • 2023 Forrester Consulting Total Economic Impact study of Thomson Reuters Legal Tracker

    Legal Tracker

    Drive financial gains for in-house legal teams

    Employees in the legal department

    A commissioned study conducted by Forrester Consulting on behalf of Thomson Reuters models the ROI impact of Legal Tracker. Results are for a composite organization representation of interviewed customers:

    $50M in annual outside legal counsel spend

    $1B in annual revenue

    55 employees in the legal department

    Key statistics

    372% return on investment (ROI)

    $2.99M net present value (NPV)

    $3.79M total benefits over three years

    <6 months’ payback period

    The most significant cost savings that departments saw came from lower timekeeper rates. Average annual increases in timekeeper rates dropped from 12% to 5% with the use of detailed benchmarking and analytics.

    Organizations saw significant cost savings from better enforcement of billing guidelines as well. In-house teams use Legal Tracker to monitor compliance with billing guidelines to easily see errors and request corrections. Interviewed customers saw an average cost savings of more than 7% of total outside legal spend.

    Download the complete Forrester Consulting TEI Study on Legal Tracker today.

    “This year, our average timekeeper rate increase request was about 15%. Using Legal Tracker, we knocked that down to much closer to 5%.”

    – Legal operations specialist, consumer goods

Legal spend management system

Explore more benefits of Legal Tracker, including cost savings, handling more matters in house, and simplified communications with outside counsel