The Total Economic Impact™ Of Thomson Reuters Legal Tracker
The trend in managing legal spend is shifting toward the utilization of technology and data analytics to obtain a better understanding of spending patterns, uncover potential cost-saving opportunities, and improve budget forecasting.
In general, there is a growing emphasis on promoting greater transparency, accountability, and efficiency by leveraging data and technology to inform decision-making and gain insights.
Forrester Total Economic Impact Study findings
Thomson Reuters commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study and examine the potential return on investment (ROI) enterprise may realize by deploying Legal Tracker. This study aims to offer a framework for readers to evaluate the potential financial implications of Legal Tracker on their organizations.
See the ROI Uncovered by the Forrester TEI Study
Obtain a free copy of the Total Economic Impact of Thomson Reuters Legal Tracker to gain insight on how Legal Tracker can benefit your organization. Learn how Legal Tracker reduced external legal spend by 2.5%-15% annually.
Key Findings. Three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:
- Lower timekeeper rates, with average annual increases in timekeeper rates dropping from 12% to 5%, resulting in savings of $2.5 million.
- Enforcement of billing guidelines, equaling savings of $746,000
- More efficient review and management of invoices, resulting in a 60% productivity improvement and savings of $161,000.
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