Thomson Reuters announces Legal Tracker 2018 RI feature release
March 20, 2018
Thomson Reuters today announced key enhancements to Thomson Reuters Legal Tracker, its market-leading e-billing and matter management solution. Headlining this release is a new toolset for managing alternative fee arrangements (AFAs), refinements to the invoice review and payment process, additional support for international/indirect taxes, and new integrations that complement the Legal Tracker experience.
Identified by corporate legal departments as one of the most effective outside counsel cost control strategies, AFAs allow companies to negotiate fixed or value-based pricing agreements for matters assigned to outside law firms. To help the many legal departments that are transitioning their firms to this type of fee structure, the recent Legal Tracker release offers an improved toolset that allows clients to easily manage, account for, and report on an array of different alternative fee agreements. Now, Legal Tracker users can control multiple fee arrangements for multiple firms on a single matter and have the ability to select strict or flexible cost controls on AFA matters.
Clients will also see finer controls for invoice routing and payment. Now, more changes can be made to invoice approval routes without having to restart the approval workflow for pending invoices. In addition, Tracker administrators have the ability to pull back invoices from another reviewer’s queue if the need arises.
Additional highlights of the Legal Tracker 2018 R1 feature release include improved support for indirect taxes, such as VAT or GST, and the ability to show all tax amounts in an organization’s native currency. Finally, clients can more easily manage their legal hold notifications and data preservation activities by automating the process with TotalDiscovery®, a leading legal hold solution now integrated with Legal Tracker.
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