Xakia launches spend management tool for in-house counsel
In-house legal software company Xakia has unveiled a new tool for legal professionals to assist with legal spend management and help teams “gain unprecedented clarity”.
The new solution from Xakia helps legal teams overhaul external spend tracking and provides analysis for in-house teams, enabling matter-centric spend management within minutes.
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
The new offering promises simplicity and clarity for teams struggling with scattered and complex spend tracking across various matters and is designed to address modern spend management hurdles, offering a streamlined platform to make external spend analysis accessible and actionable for small legal teams ready to scale their operations.
The solution provides matter-centric spend tracking, which integrates invoices, budgets and accruals within each matter for better visibility; configurable workflows to allow customised invoice approvals by matter type; an external resource portal (Xakia Connect) that equips external stakeholders with direct access to the platform; and advanced reporting and data visualisations.
A focus on practical functionality also allows the solution to meet legal teams’ need to manage external legal spend efficiently, Xakia’s chief executive for North America, Anne Post, said.
“Xakia’s new spend management solution reflects our commitment to driving immediate value for overburdened legal teams,” she said.
“With our innovative yet simple software, legal teams can gain unprecedented clarity and control over external spending.”
Early users have already experienced positive effects of the software, added Jerry Sharum, vice-president for legal at Cribl.
“With Xakia’s spend solution, we’ve optimised our entire legal spend process – from budgeting to invoice approvals. The clear visibility empowers our team to tighten governance control and rewards strategic thinking about resource allocation,” he added.
“It’s revolutionised our legal ops by bringing together our matters and spending to give us a comprehensive view of our work.”