LexFusion Enhances Legal Spend Optimization with LegalBillReview.com Partnership
30 Abril 2024 - 9:00AM
Business Wire
LexFusion, the leading legal tech and innovation accelerator, is
excited to welcome LegalBillReview.com to its portfolio in order to
better support law department spend optimization.
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the full release here:
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In an era of ever more complex tools, LegalBillReview.com
is a simple, effective and highly professional service, proven to
help in house legal departments materially reduce spend while
saving on time-consuming invoice review—with zero risk.
LegalBillReview.com specializes in identifying and correcting
errors on outside counsel bills while insulating the trusted
advisor relationship from the necessary minutia of the attendant
commercial relationship.
“What makes this such an attractive offering to our law
department network is LegalBillReview.com’s expertise in ensuring
legal bills conform to detailed outside counsel guidelines. Where
issues are identified, LegalBillReview.com engages directly with
the law firms to resolve discrepancies and quickly progress bills
to payment readiness, saving time and preserving business-critical
relationships.
“Their service strikes the optimal balance between yielding
quantifiable savings and maintaining law firm 'buy-in.' And since
their pricing model guarantees ROI, there’s no need to find room in
the budget,” says Christina Wojcik, Managing Director at LexFusion
and Former Head of Innovation and Technology at Citibank.
“We’re thrilled to join the LexFusion collective! LexFusion’s
legal market expertise is unparalleled. And their commitment to
excellence is a testament to LegalBillReview.com’s value
proposition for in-house legal teams,” states Ryan Loro, President
of LegalBillReview.com.
LegalBillReview.com’s team of experienced, US-based attorneys
analyzes every charge on every bill to ensure every entry and
expense adds value, and is compliant with both the client’s billing
guidelines and industry best practices. Pinpointing excessive time,
inadequate descriptions, factual inconsistencies between time
entries, duplicative work, new-lawyer training, right sourcing,
block billing, administrative tasks, overstaffing, and intra-office
communications, LegalBillReivew.com eliminates ineffective use of
law department resources, including the opportunity cost of the
time required to perform detailed invoice reviews.
“On average, LegalBillReview.com identifies 10-15% cost savings
on bills our team reviews,” notes Loro. “This savings positively
impacts organizations’ legal spend reduction and optimization
goals.”
Wojcik affirms the importance of these savings by stating, “2024
is the year of law firm spend reconciliation. Legal budgets are
being frozen. Spend reduction exercises are in full effect. Every
excess dollar allocated to one area is a dollar unavailable to meet
other urgent needs. Being able to offer a solution that supports
spend optimization is directly in line with LexFusion’s mission to
position law departments to meet business needs at scale and
pace.”
About LexFusion:
LexFusion accelerates legal innovation. Whether guiding legal
professionals’ journey through the expansive legal technology
and/or service space, or advising legal innovation companies on go
to market strategy, LexFusion unites buyers and sellers. For more
information, please visit http://www.lexfusion.com.
About LegalBillReview.com:
LegalBillReview.com identifies and corrects billing errors and
overcharges on outside counsel bills using a team of US-based
lawyers. With their expertise and commitment to legal spend
accuracy, they ensure fair and transparent billing practices to
deliver immediate savings to their clients.
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Joseph Borstein, 917.612.4040 Chief Executive Officer, LexFusion
joe.borstein@lexfusion.com