Special study
The Total Economic Impact™ Of Thomson Reuters Legal Tracker
In an uncertain macroeconomic environment, corporate legal departments are under mounting pressure to control costs while delivering superior legal results for their businesses. Thomson Reuters Legal Tracker, the market-leading spend management solution, is used by more than 1,500 corporate legal departments globally to reduce legal spend, streamline operations, and deliver predictable budgets.
A commissioned study conducted by Forrester Consulting on behalf of Thomson Reuters in April 2023 found that across interviewees’ organizations, annual cost savings due to Legal Tracker ranged from approximately 2.5% to 15% of total outside legal spend.
See the ROI Uncovered by the Forrester TEI Study
Obtain a free copy of the Total Economic Impact of Thomson Reuters Legal Tracker to gain insight on the potential benefits Legal Tracker could have on your organization.
Key Findings
Three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:
- 372% return on investment over 3 years with a 6 month payback period
- Lower timekeeper rates, with average annual increases in timekeeper rates dropping from 12% to 5%, resulting in savings of $2.5 million.
- Enforcement of billing guidelines, equaling savings of $746,000
- More efficient review and management of invoices, resulting in a 60% productivity improvement and savings of $161,000.
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