Call Us:  877-534-2455 

Lawyers and Lightbulbs: A Guide to Case Staffing

How many lawyers does it take to screw in a lightbulb? Three: One to do it, and two to sue him for malpractice.

Read More ➤

Let Quovant Help You Further Mitigate Your Risky Business

Psst -- can we talk for a minute?  I’m talking to all of you that work in corporate legal or risk departments that are utilizing a legal spend management (“LSM”) or legal bill review program.  Hopefully by now, you are taking full advantage of its services.  And if you invested in a quality LSM program (wink wink) then you should be experiencing custom invoice processing and review of your outside counsel invoices, line entry categorization for each fee and cost line reviewed, tailored business intelligence reporting, and personalized consultation services all available for you to better understand, manage, and optimize your legal spend strategy.  But now what - do you find yourself wondering what else Quovant does that can help you?  If so, then read on.

Read More ➤

Happy National Pet Day!

To celebrate National Pet Day, we went to the Nashville Humane Society to help care for their dogs and cats and donate some items to support the shelter. We even found a dog that would be a perfect addition to the Quovant family!

Read More ➤

Implementing a Legal Spend Management Solution, Part Three: Metrics and Reporting

So, you successfully implemented your legal spend management solution and are starting to see a reduction in your legal expenses that results from participation in a bill review program. Great…now what? Although many that employ a legal spend management program do so for the instant hard dollar savings, the true benefit of a legal spend management solution is the actionable insight that comes from increased visibility into your data. Let’s explore a few ways you can begin taking advantage of the business intelligence reporting even without a trend-worthy amount of data.

Read More ➤

Managing Your Legal Spend, Part Four: Objective & Subjective Review

Compliance review is a vital component of legal spend management. Compliance review, in terms of legal spend management, examines law firm invoices and compares them with how completely they conform with the client’s billing guidelines. In depth compliance review requires knowledge of the law firm, the law firm’s billing experience, the common practices of the legal industry, as well as insight into the particular body of law that is being practiced. Although the specifics of the tasks and costs vary between clients, there are a few consistent methodologies used to review legal invoices for compliance with client’s billing guidelines, including the objective and subjective review of invoices. The objective review is usually a surface level review that looks at the basics of whether the bill itself is complete and made without errors, and the subjective review digs into the meat of the work being completed to see how appropriate it is in light of the client’s overall litigation goals.

Read More ➤

UTBMS Codes, Part Two: Phase Coding

One general ideal of analytics is to drill down further and further into data while still maintaining a large sample size in order to gain meaningful insight into that data. When it comes to legal spend, data at the task level is more informative than data at the case level which is more informative than data at the law firm level, and so on. Therefore, the biggest benefit of the UTBMS framework is phase coding. With phase coding, line item entries of an invoice can categorized into one of five phases: case assessment, pre-trial pleadings/motions, discovery, trial, and appeal. The ability to break matters down into these subsets provides significant value in a few key areas.

Read More ➤

Implementing a Legal Spend Management Solution, Part Two: Planning Your Implementation

Once you’ve generated internal buy-in for a legal spend management solution, you can switch gears and begin planning implementation. Rolling out a new solution doesn’t have to be complicated. A basic implementation can happen in three overlapping phases.

Read More ➤

Experts and Non-Law Firm Vendors: Are You Missing a Piece of Your Legal Spend?

Congratulations! You have implemented a legal spend management solution, the legal department is saving money, and legal spend metrics are starting to positively impact department processes. Breaking legal spend into fees and costs, viewing information by firm and case, and identifying trends have never been easier with the new system in place.

Read More ➤

UTBMS Codes, Part One: A Troublesome History

Decades ago, as the data revolution gained momentum, the legal industry lagged behind other industries in mining data for analytics. This was, in part, because the legal industry is notoriously conservative and slow to change. Also, legal data was thought to be too variable in nature—making predictions based on historical statistics would be difficult because outcomes and measurables are on a case-by-case basis. But the main reason why the legal industry was late to the data revolution was that law firms had their own unique billing habits, which made comparisons across firms impossible. There was a need for a common, unifying language and method for tracking legal spend.

Read More ➤

Happy Holidays from Quovant

To our clients, partners, families, and friends all around the world: Thank you for your help in making this year successful and memorable. We hope that you join us in celebrating the merriment of this holly, jolly season, and we wish you all a happy and prosperous 2017.

From our family to yours, Happy Holidays!

Read More ➤