USA/Canada News
Fulcrum GT, provider of the leading digital business platform for legal and professional services firms, Snap Direct, announces the launch of its game-changing new platform addition: RAPIDx™.
Snap Direct empowers clients in the cloud with smart solutions in new business intake, e-billing, master pricing, management reporting, HCM and more. Fulcrum’s newest solution further advances the business of law, better connecting law firms and their clients by redefining the way legal services are sourced, managed and transacted.
RAPIDx provides a foundation for the future of legal spend management through a unique network of leading corporate legal departments and global legal service providers that eliminates intermediaries. Fulcrum GT’s innovative solution enables law firms and their clients to transact business in a manner consistent with other modern enterprise verticals through the delivery of a standardized and transparent approach to managing legal matters from intake and selection right through to final payment.
“Just as Amazon Prime fundamentally changed the marketplace for consumer goods, RAPIDx is positioned as the catalyst that modernizes the entire landscape of legal service provision, from sourcing through delivery and payment,” says Dino Eliopulos, Fulcrum GT vice president, innovation and solutions. “Clients taking part in the RAPIDx Ramp program expect a significant impact on how their legal operations departments function and look forward to our continued development of this groundbreaking platform.”
“If you want to compete as a global law firm and run your business the way you want, there is only one choice to do that and serve your clients well; you must go with Fulcrum’s solution,” says Julian Lee, CFO, Eversheds Sutherland, who recently led his firm into successful live service on the Fulcrum platform’s legal tool set Snap Direct. “We know their platform will take us into the future over the next 10 years and beyond and allow us to change the way we manage both our business and our client relationships for the better. This platform is the next generation in the business of law.”
With its holistic approach to efficiently managing the procurement of legal services and the business of law, RAPIDx takes Snap to the next level and redefines the legal spend management life cycle for both law firms and their clients. The platform’s added component combines the ability of users to interact with their established providers and the seamless integration of Fulcrum GT’s premier tools to address every stage of the legal supply chain. From initial conflict risk management and pricing right through to transparent time management and e-billing, Fulcrum’s solution set offers a true end-to-end offering through selection, execution and payment.
RAPIDx is secure, scalable, process-based, sustainable and optimized to help firms move their business operations forward amid changing client needs. The platform offers in-depth analytics, allowing both law firms and clients to monitor and analyze sourcing activities, work in progress, invoicing and overall spend visibility. The high-level status dashboards provide valuable insights to drive informed decision-making and optimize legal operations.
“To support their ongoing digital transformations, corporate legal departments are changing their rules of engagement, such that most are no longer passive bill payers content to operate with limited interactions and visibility into their outside counsel data. Today’s law firms recognize they too must evolve as their clients become increasingly sophisticated. Fulcrum GT identified this trend and six years ago began collaborating with corporate legal departments and law firms to develop a platform to revolutionize the legal services market,” says Fulcrum GT managing director and co-founder Ahmed Shaaban. “We believe RAPIDx represents the future legal supply chain and the path to effortless efficiency. Early responses from our customers support that view, and we’re excited to bring this innovative new platform to the market.”
Fulcrum GT introduced RAPIDx to select clients at the 2023 CLOC Global Institute in May, where it generated significant interest and resulted in demand among several blue-chip companies to be part of the RAPIDx Ramp program, vying to be the first to run on the RAPIDx platform. Ready-to-go connectivity and overwhelmingly positive user feedback prompted the company to expedite the platform’s formal launch and make it available for client utilization today. Fulcrum GT will next showcase RAPIDx at ILTACON 2023 in Orlando, Florida, August 20-24.
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