Audit of Existing IP Management Technology Results in $420K in Annual Savings
A global IP team wanted to justify a $300K annual license of IP Business Management (IPBM) technology.
The team needed to audit the functionality of the tool to determine current processes, identify opportunities to streamline processes, and what new areas of the tool they could use to save time, money and resources.
The client sought out Epiq experts due to our 20+ years of experience managing global IP Management projects and our experience with the clients’ IP technology. Our team of IP attorneys and legal operations professionals focuses on complete IPBM — people, process, technology, and IP intelligence.
In three months, Epiq’s Legal Business Advisory experts delivered an actionable cost savings and process improvement plan.
Using PracticeView™ to understand operating capabilities, our subject-matter experts (SMEs) interviewed stakeholders to understand current processes and technology. Our SMEs identified opportunities for improvement, including terminating underutilized tech packages, optimizing technology by automating manual docketing processes, reducing internal spending on IP matters, and redeploying resources to enhance portfolio management and overall IP Operations. After reviewing the highest volume processes, we recommended leveraging unused technology, automating 13 out of 20 steps.