Law Firm Spend and Expense Management

Spend and Expense Management Insights for Law Firms

There has been a rise in the issues revolving around the ones that have brought in new vistas and avenues in the legal industry, aka new business to law firms. The increase in business development activity brings an issue that needs attending to - managing expenses. As the workload increases, law firms have found it essential that the focus remains towards clients and deliverables rather than taking extensive hours to manage finances and expenses.

Emburse is a long-standing solution provider and caters to all such needs of new-age firms. With more than 12 million customers and its services spread to more than 120 countries, Emburse is a leader in providing services to various industries. Talking particularly of the legal industry, it provides spend management solutions including expense management and Accounts Payable (AP), virtual and physical credit cards, and travel companion applications, among others.

Salient features of Emburse except supporting 183 currencies and ensuring transnational compliance include:

  • Simplified and streamlined payment process
  • Auditable process to allocate funds
  • Secured infrastructure that ensures anytime and anywhere working
  • Robust 24/7 IT support
  • Facilitates faster payments
  • Enhanced privacy and security
  • Customised workflows and reports

Additionally, the double review procedure which helps in finding out policy violations and errors to eliminate the risk of fraud makes it different from the rest. It has eliminated the need for manual data entry of the expenses by providing integration with other software.

With a plethora of features under its belt, the clients using Emburse have shared their views on how the application has helped them stand apart and move towards an upward trajectory of growth. Esther Song, National Finance Manager, Buddle Findlay says that the application is really accommodating and is fit to cater to the needs of the present as well as the future.

Melisa Grant, Financial Controller at Hall & Wilcox states that Emburse provides the technology which enables its clients, people and firm thrive.

Karen Keegan, Assistant Controller at Nixon Peabody LLP says that with the automation being provided through Emburse all the required approvals are obtained prior to the allocation of the funds.

Benjamin Zastrow, VP of Finance and Operations at Zelle LLP comments that using Emburse has enabled them to enforce stringent compliance with the guidelines and provides proper analytics reports.

Esther Song also states that “Emburse Chrome River makes our work more human by automating processes and eliminating the need for mundane data entry. We now process expense reports 75% faster, which enables the team to prioritize more meaningful activities.”

Among many other companies to whom Emburse offers its services, have appreciated the application for helping them reduce time in processing invoices and provide a centralised platform for all expense-related needs.

In today’s world where Emburse serves and caters to the needs of various small-scale firms to large industries, it strives to evolve and develop with the changing needs of its users and make the application compatible to face those real-world problems. It aims at building strategic partnerships and ties to serve people better.

Thus, using and strategically implementing the services provided by Emburse can facilitate an increased growth rate, fewer hours of AP work and manual data handling. Most importantly it ensures compliance with country-specific norms and guidelines. Users can fix the intervals to receive an analysis of all expense-related activities thus aiding in the proper monitoring and safekeeping of funds.

Emburse truly proves the fact that by instilling technology the workload of the firms has decreased to enable them to focus more on their cases than non-chargeable work.

Also read top viewed Ai Legal article: The Role of AI in Legal Research.

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Disclaimer:  The views and opinions expressed in this article do not necessarily reflect the official policy or position of Novum Learning or Legal Practice Intelligence (LPI). While every attempt has been made to ensure that the information in this article has been obtained from reliable sources, neither Novum Learning or LPI nor the author is responsible for any errors or omissions, or for the results obtained from the use of this information, as the content published here is for information purposes only. The article does not constitute a comprehensive or complete statement of the matters discussed or the law relating thereto and does not constitute professional and/or financial advice.

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