Sky Analytics Announces Advanced Legal Procurement Tools in Partnership with The Legal 500

Global News

04
Jun
2014

Editor

Sky Analytics, a leading provider of legal spend management software for corporate legal departments, announced today a suite of product enhancements, including sophisticated legal procurement tools that provide legal departments with law firm research to better identify the best law firm for upcoming matters.  

The new procurement tools are powered by firm rankings and qualitative research provided through a newly announced partnership with The Legal 500.

“We are excited to partner with an innovator like Sky Analytics,” said David Goulthorpe, Managing Director at The Legal 500.  “We believe the combination of our qualitative law firm and attorney analysis and Sky Analytics’ quantitative invoice data is quite unique and unparalleled in the legal market.”

The Legal 500 is a leading provider of global law firm rankings and practice area expertise research in the legal market.  Law firms provide The Legal 500 with detailed submissions on their specialist areas of practice, with specific details of work undertaken in the preceding year (some of which will be confidential and not in the public domain).  A team of Legal500 researchers and legal journalists then interview over 250,000 in-house counsel and other corporate consumers around the world asking for feedback on the law firms and the lawyers they instruct.  The findings are published online and in printed guides.

“We have found that legal analytics require more than just raw billing data.  In our effort to continually enhance our clients’ billing data, partnering with The Legal 500 adds a new level of data enrichment to Sky Analytics that further drives the unique value of our invoice database,” commented Doug Ventola, President of Sky Analytics. 

In addition to new legal procurement features, Sky Analytics’ new product enhancements also include:

• Enhanced matter pricing tool, which includes task and staffing analysis features.
• Redesigned law firm scorecards, which highlight practice area expertise, top ranked attorneys, and new key metrics.
• Expanded matter filtering, including global and other matter type filters. 
• Improved PDF and Excel exporting features for sharing data among colleagues.