Law firms and in-house legal departments automating invoice review improve speed, accuracy, compliance and reduce external spend
FLORHAM PARK, N.J., May 06, 2022 (GLOBE NEWSWIRE) — With demand increasing for greater efficiency in business processes, Conduent Incorporated’s (Nasdaq: CNDT) analytics experts predict legal and risk leaders at corporations and law firms will face two operational challenges this year:
Strengthening resiliency. Teams need automation and insights to balance the new demands of work from home, improve productivity, support more strategic work, and enhance collaboration.
Tech solutions reaching across the organization. Technology adopted by legal departments must also connect to key internal business partners such as procurement, risk, finance, and accounting to create digital records accessible throughout a company. The technology must also capture complex data, host data securely, and organize the data for easy search and retrieval.
The added pressure for legal functions to be more productive, nimble, and lean has fueled demand for data and analytics tools that allow legal teams to focus on what they do best, while making better use of time and financial resources.
Advanced Analytics Solutions Showcased at 2022 CLOC Exhibit
Conduent will showcase its legal spend and contract analytics tools at CLOC Global Institute in Las Vegas from May 9 to May 12. Conduent’s Legal Invoice Analytics solution delivers automated business processes including validating payment for invoices consisting of thousands of line items for legal and risk teams using hybrid and remote roles.
“Conduent is helping legal and risk management leaders adapt to remote and hybrid work models by providing technology that meets the needs of different working models and increases speed and business intelligence,” said Sanjay Manocha, Senior Director for Legal and Compliance Solutions at Conduent. “Our expertise is providing custom technology solutions to help our clients truly scale the understanding of their data to enhance the services they provide.”
With Conduent’s single, searchable database of all contracts, firms gain insight into contract portfolios to identify and assess risks and proactively resolve issues. The Contract Analytics solution reaches across legal, procurement, finance and accounting turning all aspects of a contract into easily accessible, searchable, and reportable data to drive automation for business and risk leaders. Legal teams can resolve compliance issues and optimize contract renegotiations while procurement teams can reduce contract leakage and improve supplier performance. Finance and accounting departments can reduce revenue and margin leakage by ensuring terms are being met all by integrating contracts into a single analytics solution.
For more information on Conduent Legal and Compliance Solutions, visit Conduent’s team of legal invoice and contract analytics professionals at booth #141 to discuss custom and traditional solutions that help corporations and law firms control costs, streamline workflow, and zero in on what matters most.
Conduent delivers mission-critical services and solutions on behalf of businesses and governments – creating exceptional outcomes for its clients and the millions of people who count on them. Through our dedicated people, processes, and technologies, Conduent solutions and services enhance customer experience, increase efficiencies, reduce costs, and improve performance for most Fortune 100 companies and more than 500 government entities. Whether it’s touching three out of every four health insured lives and delivering 45% of SNAP payments in the U.S., or enabling 1.3 billion customer service interactions and empowering 10 million employees through HR services worldwide, Conduent services and solutions interact with millions of people every day and move our clients’ operations forward. Learn more at https://www.conduent.com.
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