Borden Ladner Gervais (BLG), the largest full-service Canadian-based law firm, engaged HBR Consulting (HBR) to help provide better visibility into firm-wide spending patterns and assist with streamlining and nationalizing their procurement and third-party contracting functions.
Outside of a limited number of central functions, such as information technology, BLG had been managing purchases and supplier relationships at the local office level across their various Canadian offices. With an increased focus on centralizing the function of procurement the leadership team needed to find a way to quickly access data on upcoming contracts and spending, which historically had not been readily available.
To address the specific reporting needs of BLG – across spend analytics, budget reporting and contract management – HBR worked with BLG to implement multiple modules of SpendConnect, a software-enabled service that enriches and solves critical data challenges for law firms. Taking a service-focused approach, the HBR team worked with BLG’s leadership, as well as individual department and office stakeholders, to collect the Firm’s active third-party contracts. Next, the engagement team partnered closely with finance to collect the necessary payables and budget data, which allowed HBR to create a consolidated dashboard, including contract renewals, budget goals and actual spend data to deploy to key stakeholders across the Firm.
To address concerns about the misinterpretation of data due to disconnected platforms, HBR identified three solutions for consistent problem areas:
- Centralization of third-party contract data. SpendConnect serves as a single repository for all contracts. With proactive user alerts and realtime reporting capabilities, SpendConnect reduces contract auto-renewal risk and allows for proactive planning throughout BLG’s contracting cycle.
- Creation of interactive expense reporting. SpendConnect provides enriched data across key categories and vendor relationships. With intuitive, easy-to-use reporting capabilities, SpendConnect allows BLG’s procurement team to identify cost savings opportunity areas, measure successes and instantly analyze reports for stakeholders.
- Streamlining the budget reporting process. Dashboards are designed to provide key stakeholders with instant access to budget data, allowing them to continuously monitor budgets, make better real-time decisions, and support BLG’s project management office (PMO) with project-based budgeting and planning.