Auditing legal support vendor invoices provides a definite cost savings:
Many clients work with legal support vendors to receive their best available rates – typically granted if the client agrees to give all or a bulk of their work to the chosen vendor. This is done to streamline the workflow process for a particular service and minimize the client’s costs.
The questions are:
- Once you finalize negotiations, how do you ensure you are getting the best rates for your business?
- Once the invoices start flowing in, how do you ensure you are in fact getting the rates quoted?
Reviewing invoices from across the country for these services can be very time consuming.
Not to mention…
- Do you have the internal resources to effectively review and ensure invoices are in compliance with negotiated rates?
- Do you simply assume the invoices are accurate and submit for payment?
16% Savings in Year One with VendorConnect
Electronically processing these invoices and ensuring compliance provides true cost savings to the client. Acuity’s pilot client saved over 16% in the first year of using VendorConnect for court reporting simply by enlisting our help in the RFP process to ensure the client was getting the best rates and electronically auditing invoices on upload to ensure compliance with quoted rates.
Sample savings are shown below. Acuity’s pilot client began VendorConnect in the 4th quarter of 2007. Each year, costs decreased while the number of cases increased.