Exigent Inform combines predictive technology with auditing and data analysis service for performance improvement and actionable business insight
23 April 2018 – Leading alternative legal services provider Exigent has strengthened its Augmented Intelligence offering with Exigent InformTM, the first integrated legal spend and matter management tool to include not just automation, but also the support of a team of financial experts and data scientists to audit processes and improve performance.
Uniquely delivered as an end-to-end managed service solution with a single interface, Exigent Inform gives GCs the ability to tailor the platform to their needs and recoup their investment within 18 months. It combines the latest data analytics technology with smart people that interpret patterns in supplier performance (pricing, reliability of delivery on budget, compliance, invoicing process and much more) to help in-house departments manage law firms more proactively and reduce costs by 10%.
With Exigent Inform, GCs can bring discipline to the purchase order process and in so doing make better, objective decisions on panel selection, cost management and compliance. In-house legal teams can see which law firm is more likely to deliver on time and on budget at any given time. For example, GCs can use Exigent Inform at panel review time to understand if the best rate quoted is also the most reliable at keeping to budget.
David Holme, Exigent’s CEO, comments: “Smart GCs see law firms for what they are: strategic suppliers, nothing more and nothing less. Faced with a vast array of choice and little differentiation, GCs should apply the same procurement rigor applied to any other important supplier.”
Holme continues: “We take our clients on a journey from paper to data, to usable information. While Exigent Inform has all the functionality of a best-in-class legal spend and matter management tool, the real value is in the service that comes with it. We want our clients to spend time making the best possible, objective decisions on the information and reports we provide, not fretting about the process and technology.”
Holme adds: “The end-to-end service means clients can easily spot the heroes and villains in their supplier pool. With Exigent Inform, GCs can feel safe that the deal they signed up to is complied with 100% of the time.”
The cloud-based system is designed to empower legal teams to contribute to the business ecosystem and drive commercial advantage. Exigent Inform gives complete visibility of the legal procurement processes through data, smart analysis and customized live reports so, for example, supplier contracts can be renegotiated to get more favorable terms or lower prices. Suppliers can be consolidated according to the highest quality or best value. Rogue or unauthorized spend can also be identified as well as cost savings on unrequired resources.
Furthermore, over 30% of invoices contain costs that are not within the Service Level Agreement, which in over 90% of cases favor the supplier. By having instant visibility of all supplier, team and spend data, GCs can see exact compliance requirements and ensure solutions are found to mitigate risk.
More on Exigent Inform – Key features
Augmented Intelligence: Exigent has a specialist team of auditors who review legal purchasing processes and historical spend to identify immediate savings. This unique offering always identifies possible savings and efficiencies that can underpin the business case for a system of this kind.
One interface: legal spend and matter management are combined in a single interface providing live data on vendor spend, time by matter and invoice tracking. This means no multiple logins or passwords, and customizable reports that can combine data sets to provide real insight on where and how money is being spent and with whom.
Predictive technology: A powerful Business Intelligence and data analytics platform works to identify patterns in the purchase order process.
Collaborative Consulting: Pre-implementation consulting ensures the tool captures the right data for a client’s business objectives.
What early adopters of Exigent Inform have achieved:
- 10% cost savings across the whole legal procurement process;
- increased visibility of productivity from 60% to 100% through proper time capturing, tracking and real-time reporting;
- improved process efficiencies through automation resulting in 30% available capacity to be focused on higher level tasks;
- reduced time for invoice processing through to payment from 180 days to 60 days; and
- 18 months full ROI.
For more information or to set up an interview please contact
Global Communications Manager
+44 (0) 7515 2645 14
Exigent Group Limited is a global alternative legal services provider operating at the intersection of law, business, and technology. With a worldwide team of over 400 attorneys, business analysts, developers, and consultants, Exigent is transforming the way legal services are offered by applying analytical thinking, smart use of technology and inventive talent, to deliver answers that impact every aspect of business performance.
Exigent’s contract management solutions and business analytical tools help the C-suite, In-house Counsels and law firms to reduce risk, improve compliance and drive process and cost efficiencies.
International clients trust Exigent’s powerful combination of technology, consulting, and legal services in the US, Canada, UK, Australia and South Africa. Cross-cultural and inherently borderless, Exigent has eight offices around the world, with three operating centers in Bangalore, Cape Town, and Perth. For information about Exigent visit www.exigent-group.com