Case Study

Silicon Valley Tech Company Reduces Outside Counsel Spend by 9% with Invoice Review

Goal

In-house counsel were reviewing invoices but inconsistently applying billing guidelines resulting in very little if any cost savings. Elevate was asked to review invoices and recommend improvements to the invoice review process. As part of this initiative, the company requested Elevate to work with in-house counsel to achieve alignment between Elevate’s review and in-house counsel’s final review and approval.

Solution

During a 3-month pilot, our 7-Point Legal Bill Review Methodology provided metrics for invoice review savings. The post-pilot period included a concentrated review of the invoices, offering additional savings opportunities. Elevate provided detailed cost savings and ROI reports throughout the process.

 

 

 

Outcome

During the initial pilot period, Elevate demonstrated $300K in savings for a 3.33 ROI. Over the course of six months, we showed $673K in savings and reduced outside counsel spend by 9% with an increased ROI of 5.33. In addition to realizing significant savings, working with Elevate enabled the customer to create more structured invoice management and cost control.

Outcome

During the initial pilot period, Elevate demonstrated $300K in savings for a 3.33 ROI. Over the course of six months, we showed $673K in savings and reduced outside counsel spend by 9% with an increased ROI of 5.33. In addition to realizing significant savings, working with Elevate enabled the customer to create more structured invoice management and cost control.

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