All companies want to be sure that they are maximizing the value they receive from external sources. However, the day-to-day business operations, M&A activity, and growth initiatives can lead to duplicative spend, or continuation of external spend that may no longer be necessary. Understanding spend is a necessary step in cost reduction, process optimization, and value creation.
At Navint, we take a holistic approach to business transformation, process optimization, and technology assessments. This includes spend analysis on external sources such as business systems, and strategic sourcing in areas of finance and legal. We align external spend to business value, which typically results in cost reductions.
Do you need help reducing your external spend? Contact Us today.
External Legal Spend Reduction Services
The legal market is in need of normalization. There are a massive number of legal suppliers, and these suppliers control the price. Furthermore, most corporate legal expenses are last in line for reduction, with limited visibility into the spend details. Now is the right time to apply data science to the legal market.
Our external legal spend reduction services benchmarks the expense against 5,000+ firms. We can identify out-of-range cost drivers such as hourly rates, staffing ratios, block billing, and matter outliers. We then develop strategies and tactics to facilitate actions to reduce legal spend.
Do you need help evaluating and reducing your external legal spend? Contact Us today.