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What is Enterprise Legal Management Software?

Enterprise legal management (ELM) software enables in-house legal departments to get a complete overview of the legal spend across their organization, including the documents and legal records associated with that spend. Tying into this, a good enterprise legal management software will provide automated legal bill review to correct billing compliance errors and inefficiencies, fixing the issues and immense revenue loss associated with overpaying for legal services.

In addition to spend- and vendor management, an enterprise legal management software will typically also include matter management, vendor management, knowledge management, eBilling functionality, as well as reporting and analytics capabilities.

In the case of LSG’s enterprise legal management software solution, Mercury ELM®, you get all of the above with a pricing model that beats our competition — guaranteed — all the while saving you ~6-11% on legal spend. As an example, a recent client saved $487 million dollars over just 3 years.

What is the Mercury ELM® Software?

Mercury ELM®, our enterprise legal management software, is LSG’s latest development in its long history of pioneering impactful and cost-effective solutions for the legal industry. Using the latest machine learning capabilities, drawn from over 15 years of experience in data mining, Mercury ELM® is a new, ground-up enterprise legal management software designed to offer an excellent user experience along with an appealing interface for enterprises looking to save costs through automated bill review, compliance monitoring, and more.

This first of its kind enterprise legal management software product will allow clients to seamlessly interact with outside counsel and share information amongst the internal legal and/or adjusting teams. Our "digital handshakes” take out emails, document attachments and other manual processes, replacing these with in-app interactivity and operability solutions that give users instant knowledge and control. In addition to replacing outdated tasks, the Mercury enterprise legal management software tracks and corrects excessive legal spend through automated bill review.

How is Mercury ELM® Implemented Into Organizations?

Our enterprise legal management software can be plugged into your existing accounts payable, payments and other key existing IT infrastructure. Due to this, Mercury ELM® presents a seamless enterprise legal management software platform in which to conduct all your legal management needs, saving you considerable amounts through reducing inefficiencies and unnecessary spend.

Beyond this, we provide a powerful set of data analytics, reports and user dashboards, along with form building on the fly, meaning that the users are constantly informed of progress, key deadlines and milestones to be met. With a complete Microsoft Office Outlook integration, Mercury ELM® represents the best-of-breed in enterprise legal management software.

Key Features of Mercury ELM®

  • Supplier selection and case / matter assignments
  • Case and document management
  • Validated e-billing
  • Panel and rate management
  • Budgeting and case / matter planning
  • Automated bill review and compliance monitoring
  • Powerful reporting within Mercury ELM
  • ELM Data Analytics / Visualizations
  • Matter / claims and payment feeds
  • External supplier management
  • Machine learning saving
  • Case/Matter Assignments
  • Budgeting and Case Planning
  • Legal Hold Management
  • Outlook Integration
  • E-Docs
  • E-Billing
  • Automated Bill Review (ABR) and Compliance Monitoring
  • Matter/Claims Payment Feeds
  • Security and Database Hosting
  • Financial and Management Information Reporting

Why LSG’s Enterprise Legal Management Software?

Business Intelligence is the key to understanding performance and trends, empowering business decisions. Data can be analysed and the results presented in a variety of ways to provide vital information that confirms previous- and drives future business decisions, while highlighting outliers and fostering curiosity. Whether at a high-level or granular, reporting informs and notifies, bringing visibility to the complex and provoking important questions. Unwanted detail can be filtered out to provide answers to specific questions. Specific reports can be quickly and easily produced. These are just some of the ways Mercury ELM® goes above and beyond for our enterprise legal clients.

This is an exciting time for enterprise legal management (ELM) software. With ever-growing pressure on legal departments to reduce spend, general counsel expect to be armed with greater budget predictability, workflow efficiency and crystal-clear visibility into legal spend. That’s where enterprise legal management software comes in. Properly implemented, an enterprise legal management software solution builds a foundation for digital transformation and integrated risk management. Solutions such as LSG’s Mercury ELM® Software includes features to manage all activities surrounding corporate legal practice from a single dashboard. Matter management functionality provides vital tools for running an efficient legal department. If your legal department outsources work to outside law firms, then legal spend management is an absolute must-have. When engaging outside counsel, you are likely responsible for controlling costs, managing firm selection and engagement. With Mercury ELM®, you will gain foresight into budgeting and future spend to create more predictability of department results. Get the quantitative answers you need to shape your legal operations and to inform your business decisions by contacting us for advice.

The Workflow of LSG’s Enterprise Legal Management Software

The Workflow of LSG’s Enterprise Legal Management Software

Frequently Asked Questions (FAQ):

Key metrics we track and improved in Mercury ELM include: combined operating ratio, average litigation days, number of claim adjusters, files per adjuster, claim settlement amount etc. We have a number of proprietary metrics gathered over 15 years of servicing insurance companies.
We price based on a hybrid basis of % of spend, typically 0.25% of spend plus a flat rate per invoice, giving you a more predictable insight into annual cost.
We have a number of Fortune 500 clients, insurance companies and TPAs using the Mercury ELM software. We also have over 400 law firms interacting with the system through our current enterprise legal management clients.
Yes, we can integrate into QuickBooks, other e-billing software platforms and AP software platforms. Custom integrations are $1,499 per integration.
Typically, we have experienced savings of ~10% of legal spend through legal bill review & audit within Mercury ELM, and we have had clients see as high as 30% in savings. It all depends on how aggressive clients would like us to be with vendors, which we handle with our dedicated resolution desktop and vendor response team.
Our enterprise legal management software, Mercury ELM, gives clients an end-to-end overview of their litigation management, vendor management, claims management, and more. By providing key data within a collective platform accessible by your entire organization, you can more easily take advantage of pre-existing information such as legal opinions used for previous, similar claims before commissioning a new legal opinion.
In addition, you can also reign in excessive legal spend by seeing where money is being spent with keen, robust analytics as an anchor of your legal spend management strategy. In short, the benefit of our Mercury ELM software is cost savings and increased transparency.
Yes, our legal bill review & audit service can be integrated into your legal spend management strategy with the Mercury ELM software. This can save you an average of ~10% in outside counsel legal spend, with some clients having seen savings as high as 30% of their legal spend.
If you've got a list of billing guidelines set out in your service level agreements with vendors, we'll review your incoming invoices for compliance, enforcing guidelines. This, in turn, reduces the overall review requirement and cost with time as your vendors will gradually conform to the guidelines set forth in the pre-determined agreements. If you need help creating a robust set of billing guidelines as a first step in the legal bill review process, we can also help with that.
Yes, we utilize Microsoft's Power BI to provide robust analytics reports that directly plug into your incoming data stream. As your data changes, so does the report, enabling you to have a bird's eye overview of vendor management and legal spend management at all times. Leverage keen insight and data to inform your business decisions.

Schedule a Demo

A personalized demo with our enterprise legal management team is the best way to figure out whether LSG is the right software partner for your organization’s enterprise legal management requirements. Contact us to set up a demonstration where we show you how we can help you achieve cost savings with LSG’s Mercury ELM®.

If you want to talk to us, give us a call at +1 877 566 9574.

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