Manage the accrued legal costs for LP negotiations
Prevent the legal costs associated with fundraising from spiralling by staying on top of work-in-progress matters, from multiple law firms, in a single system of reference.
- Take corrective actions where necessary to stay within budgets and prevent unexpected overspend.
- Group related matters from multiple firms using your own reporting structures.
- Manage the ongoing costs, scope and budgets for complex and unpredictable projects, even when billed infrequently.
Increase the visibility of M&A transactions
Improve oversight of all investment matters and reduce the reliance on manual updates with a consistent, automated breakdown of deal costs from all connected law firms.
- Remove the perception of legal spend being a ‘black box’ with total oversight of your ongoing and historic costs.
- Take a proactive management approach to monitor costs and offer support to investment teams when necessary.
- Measure and optimise the ideal proportion of fixed-fee vs hourly-billed matters for each deal.
Improve the efficiency of law firm spend
Gain insight into how outsourced legal work is progressing and take timely course-correcting action to avoid surprise cost overruns, with real-time visibility of matters.
- Drive behavioural change towards more efficient working practices by setting meaningful KPIs that you can monitor regularly and accurately.
- Focus on value-based conversations instead of querying invoices, to strengthen your relationships with outside counsel.
- Drill down and report consistently on spend by practice area, department, law firm, fee-earner, project, region and more.
Reduce house costs and monitor portfolio spend
Understand current and historic spending patterns across the house and portfolio, and drive efficiencies through improved forecasting and budgeting for future expenditure.
- Use accurate, current data to make informed strategic decisions that improve your firm’s efficiency.
- Identify similar recurring matters that could be resourced more efficiently.
- Analyse typical volumes of work for panel reviews and identify key metrics for monitoring law firm performance.
- Track the immediate impact of your improvements and iterate on these to achieve long-term cost savings.
Improve transparency for auditing and regulatory compliance
Safeguard regulatory compliance with a fully auditable breakdown of your legal spend from all connected law firms.
- Automated reporting to prove cost transparency and demonstrate value for money to your investors.
- Reduce human error by ending your reliance on complex spreadsheets collated manually.
- Show fair allocation of costs between activities, funds and other criteria relevant to your firm.
What our customers say
The key point is that there is a degree of clarity when both sides can see where the time is spent more precisely. Rather than having to say, ‘please send me reams and reams of information’, you can see it in Apperio almost immediately. And not just when the money’s already been spent.
Using Apperio to compare our spend against manual law firm reports, we could see there were gaps that couldn’t easily be explained. Apperio has also made it easier and more efficient for us to keep track of legal spend without having to ask for updates.
Intuitive cloud-based software to view all your legal spend data, accrued and billed, across all your law firms and matters.
How it works
Learn how to get started - set up is quick and easy. We work closely with you and your law firms to onboard your historic and ongoing spend data.