Bodhala Partners with Mitratech to Maximize the Value of Corporate Legal Spend
Benchmarking, market intel, and machine-learning combined with eBilling data will deliver significant impact to corporate legal departments looking to optimize outside counsel spend
Bodhala, the machine-learning powered legal spend management platform, and Mitratech, a leading global provider of legal and compliance software, announced a partnership aimed at helping corporate legal departments control ballooning legal costs and maximize outside counsel performance.
The partnership combines Mitratech’s robust workflow and eBilling solutions with Bodhala’s proprietary machine-learning engine, allowing companies to visualize their legal spend data in new ways and unearth powerful insights that support better business outcomes.
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Bodhala brings new transparency to the legal services market with its groundbreaking approach to benchmarking that combines historical invoice data from across the platform with publicly available information and proprietary third-party data to help companies drive more value for dollars spent on outside law firms.
“Bodhala is leveraging machine-learning and AI to create the much-needed catalyst to force transparency across the legal services market and give companies more control over their relationships with outside law firms,” says Raj Goyle, CEO and Co-Founder of Bodhala. “We’re excited to integrate our AI, analytics, and market intelligence tools into Mitratech’s world-class eBilling and legal compliance solutions to deliver the sophisticated insights that customers need to get the greatest impact from their outside spend.”
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Mitratech offers an industry-leading end-to-end workload management and eBilling platform whose customer base includes 30% of the Fortune 500. Customers that use Mitratech’s legal compliance solutions can now get market benchmarking from Bodhala that compares only relevant firms within targeted competitive cohorts. By comparing only similar firms for similar work, customers are able to recapture market power and ensure competitive rates.
“We are thrilled that customers using our compliance solutions will now be able to augment their spending insights with Bodhala’s approach to benchmarking and analytics,” says Matt Johnson, Chief Revenue Officer at Mitratech. “Our partnership with Bodhala will deliver more comprehensive solutions that our customers are looking for, using AI to accelerate their growth on the legal operations maturity curve and become more sophisticated in their approach to legal spend management.”
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