The move toward a more business-like, analytics-driven in-house department has been well underway for years now, but seems to be picking up new traction. As predictive analysis models have gotten more powerful, businesses increasingly expect corporate counsel to use these technologies to keep track of their costs.
With its newly released tool, legal software company Exigent Group wants to bring predictive analytics into budgeting and outside counsel spend management for corporate counsel. The tool, Exigent Inform, uses a combination of automation and predictive analytics to help corporate counsel identify potential savings within existing budgets and track outside counsel performance.
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