Developer docs
API playgroundTry for free, no card

Search company profiles

CounselLink

Full company profile

uuid0029mpt

Namestring
CounselLink
Legal namestring
LexisNexis (a division of RELX Inc.)
Websiteurl
counsellink.com
Company typeenum
Public
Founded yearstring
-
Descriptiontext

CounselLink is a cloud-based Enterprise Legal Management (ELM) software product offered by LexisNexis, a division of RELX Inc. (NYSE: RELX). The product is positioned for corporate legal departments and provides integrated matter management, legal e-billing and spend control, contract lifecycle management (CLM), vendor and outside counsel management, and AI-powered analytics through the Protégé assistant. The platform is built on SOC 2 Type 2 certified cloud infrastructure with role-based access controls, ERP integration capabilities, and deep linkage into the broader LexisNexis ecosystem (Practical Guidance, Lex Machina, legal research, and templates). Target customers include Fortune 500 corporate legal departments, mid-sized organizations, in-house counsel, and local government legal entities across healthcare, pharmaceuticals, chemicals, and other regulated industries.

CounselLink generates revenue through customized enterprise subscriptions sold on multi-year contracts, with pricing tailored to organization size, modules selected (e-billing, matter management, CLM, vendor management), and integration complexity. The go-to-market motion relies on direct enterprise field sales targeting General Counsel and Legal Ops decision-makers, supplemented by an inside sales team for mid-market deals and a tiered partner program (Harbor Gold, Sterling Analytics Silver, Legal Operations Consulting Silver) for implementation and analytics services. In 2025, the product was upgraded to CounselLink+, embedding Protégé AI for invoice and matter summarization, predictive spend insights, and contract analysis, and was recognized as the Legal Tech Breakthrough "Overall Legal Spend Management Solution Provider of the Year." As a product line within RELX, CounselLink does not report standalone financials but leverages the parent conglomerate's global enterprise distribution and content assets as primary competitive advantages.

Short descriptiontext

CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform from LexisNexis (RELX Inc.) that provides matter management, legal e-billing, contract lifecycle management, and AI-powered analytics for corporate legal departments, Fortune 500 enterprises, mid-market companies, and local government legal teams.

Operating statusenum
Operating
Ownership categoryenum
akta.pro rankint
HeadquartersRaleigh, United States
HQ citystring
Raleigh
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
enterprise legal management, legal spend management, legal e-billing software, matter management software, contract lifecycle management
Industry2 codes
1Vendor & Contract Management (Software/Cloud)
CodeBPAEAOADPrimaryYes
2Litigation Support & Expert Witness Services
CodeBPAHALAGPrimaryNo
NAICS code2 codes
  • Custom Computer Programming Services541511
  • Administrative Management and General Management Consulting Services541611
SIC code1 code
  • Services-Engineering, Accounting, Research, Management8700
Product category
Enterprise Legal Management Software
No data
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Enterprise Software Subscription
TypeSubscription Recurring
Description

CounselLink+ operates on a subscription-based model with customized pricing tailored to organization size, specific capabilities required, and integration needs. Pricing varies based on the scope of deployment (e-modules selected, user count, and integration complexity). The solution is sold as an annual or multi-year contract with flexible subscription tiers.

lexisnexis.com
Marketing channels4 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels3 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components5 values
Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Pricing details1 tier
1Custom enterprise pricing based on organizational requirements
ModelSubscriptionBilling cadenceMulti-year contract
Notes

Pricing varies based on the size of the organization, specific capabilities required (Legal E-Billing, Matter Management, CLM, Vendor Management), and integration needs with ERP systems and LexisNexis ecosystem products. LexisNexis offers customized pricing tailored to each legal department's requirements.

lexisnexis.com
GTM typeB2B
B2B
Offering typeSoftware
Software
Brand1 of 2 records shown
1CounselLink+
Description

Enterprise Legal Management (ELM) solution offering enhanced matter management, legal spend control, and AI-powered insights through LexisNexis Protégé for corporate legal departments.

lexisnexis.com
+1 more record
Core offering1 text field

CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform sold to corporate legal departments that integrates legal e-billing, matter management, contract lifecycle management (CLM), outside counsel/vendor management, and the LexisNexis Protégé AI assistant. It is offered as a configurable suite of modules that customers can subscribe to individually or as an integrated deployment, backed by implementation and professional services from LexisNexis and certified partners.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 4 values shown
  • Elimination of manual invoice distribution and tracking through automated e-billing workflows
+3 more records
Product overview1 text field

CounselLink+ is a unified Enterprise Legal Management (ELM) platform designed for corporate legal departments, offering a platform-plus-modules architecture. The core CounselLink+ platform integrates e-billing, matter management, contract lifecycle management (CLM), vendor management, and the Protégé AI assistant—all within a single unified workspace connected to the LexisNexis ecosystem. Organizations can subscribe to individual modules or the full integrated suite, with configurable dashboards and role-based controls enabling tailored deployments for Fortune 500 enterprises and mid-sized legal departments.

Product and service7 records
1CounselLink+
CategoryEnterprise Legal Management Software
Description

Cloud-based Enterprise Legal Management (ELM) platform for corporate legal departments, integrating matter management, legal e-billing, contract lifecycle management, vendor management, and AI-powered insights; available as individual modules or as a full integrated suite with multi-year subscription contracts.

2Legal E-Billing
CategoryLegal Spend Management Software
Description

Electronic billing module that automates legal invoice review, detects billing anomalies, validates rates, and provides legal spend visibility with trends and forecasting for corporate legal departments and outside counsel programs.

3Matter Management
CategoryMatter Management Software
Description

Comprehensive matter management module enabling legal teams to manage, route, and track all legal department work with intake tools and centralized matter information from intake to closure.

4Contract Lifecycle Management (CLM)
CategoryContract Lifecycle Management Software
Description

Contract lifecycle management module enabling organizations to manage contracts from initiation through execution and renewal, integrated with the broader CounselLink+ ELM environment and AI-powered contract analysis.

5Vendor Management
CategoryVendor / Outside Counsel Management Software
Description

Outside counsel and vendor management module for tracking law firm relationships, fee arrangements, rate approvals, timekeeper approval, and vendor performance within the CounselLink+ environment.

6LexisNexis Protégé
CategoryLegal AI Assistant
Description

AI-powered assistant embedded within CounselLink+ that provides intelligent summaries of invoices and matters, suggested action items, predictive insights into legal spend and matter outcomes, and task automation for legal professionals.

7CounselLink+ Professional Services
CategoryProfessional Services / Implementation
Description

Implementation, training, and ongoing support services for CounselLink+ deployments, including consulting and certification programs delivered by LexisNexis and certified partners.

Scale indicator2 records

Each record includes

Type, Value, Description, Source

Partnership3 partners
Strategic tierCoreTypeImplementation/ SI/ Consulting Partner
Description

Harbor is a Gold Tier Partner of CounselLink+, providing consulting, implementation, and support services for CounselLink+ deployments. As a certified partner, Harbor helps ensure flawlessly delivered and implemented solutions for clients.

Strategic tierCoreTypeImplementation/ SI/ Consulting Partner
Description

Sterling Analytics holds Silver Tier Partner status with CounselLink+, offering analytics and consulting services that complement the ELM platform's native reporting and insights capabilities.

Strategic tierCoreTypeImplementation/ SI/ Consulting Partner
Description

Legal Operations Consulting, LLC is a partner of CounselLink+ providing specialized legal operations consulting services to support successful ELM implementations and optimization.

Recent move5 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight2 records

Each record includes

Type, Description

Peers10 records
TypeEmerging player
Description

Icertis is a leading enterprise CLM provider with AI-driven contract intelligence, competing with CounselLink+'s CLM offering and increasingly entering the broader legal-ops stack.

TypeDirect peer
Description

Onit offers ELM, matter management, and spend management solutions targeting in-house legal teams, competing head-to-head with CounselLink+ in enterprise corporate legal departments.

TypeBroad incumbent
Description

Thomson Reuters is a broad incumbent in legal technology with Legal Tracker (spend management) and Elite 3E (practice management) directly overlapping CounselLink+ capabilities, sold alongside its larger legal-research portfolio.

TypeEmerging player
Description

Ironclad is a modern CLM platform with AI-driven contract analysis, overlapping CounselLink+'s CLM module and increasingly competing for the same in-house legal buyer.

TypeDirect peer
Description

Brightflag is an AI-powered legal spend management and e-billing platform for corporate legal departments, directly overlapping CounselLink+'s legal spend and invoice review capabilities.

TypeDirect peer
Description

Mitratech's TeamConnect and Mitratech Portfolio+ are direct ELM/e-billing competitors to CounselLink+, serving corporate legal departments with matter management, spend management, and vendor management.

TypeDirect peer
Description

Wolters Kluwer's ELM Solutions (including Passport and TYMetrix) provides e-billing, matter management, and analytics for corporate legal departments — a near-direct functional competitor.

TypeEmerging player
Description

Evisort provides AI-powered contract analysis and management, directly intersecting with CounselLink+'s CLM and contract intelligence features.

TypeEmerging player
Description

LinkSquares provides AI-powered contract lifecycle management and analysis for in-house legal teams, overlapping with CounselLink+'s CLM and contract analytics capabilities.

TypeEmerging player
Description

Agiloft is a customizable CLM platform with AI capabilities, competing with CounselLink+'s CLM module for in-house legal contracts and enterprise workflows.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers3 records

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment4 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile3 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

Integration1 record

Each record includes

Title, Type, Description, Source

AI capability5 records

Each record includes

Type, Description, Source

AI maturity
App detail

Has app

Feature7 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
Compliance1 record

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

CounselLink

Enterprise Legal Management Softwarecounsellink.com

CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform from LexisNexis (RELX Inc.) that provides matter management, legal e-billing, contract lifecycle management, and AI-powered analytics for corporate legal departments, Fortune 500 enterprises, mid-market companies, and local government legal teams.

What CounselLink does

CounselLink is a cloud-based Enterprise Legal Management (ELM) software product offered by LexisNexis, a division of RELX Inc. (NYSE: RELX). The product is positioned for corporate legal departments and provides integrated matter management, legal e-billing and spend control, contract lifecycle management (CLM), vendor and outside counsel management, and AI-powered analytics through the Protégé assistant. The platform is built on SOC 2 Type 2 certified cloud infrastructure with role-based access controls, ERP integration capabilities, and deep linkage into the broader LexisNexis ecosystem (Practical Guidance, Lex Machina, legal research, and templates). Target customers include Fortune 500 corporate legal departments, mid-sized organizations, in-house counsel, and local government legal entities across healthcare, pharmaceuticals, chemicals, and other regulated industries.

CounselLink generates revenue through customized enterprise subscriptions sold on multi-year contracts, with pricing tailored to organization size, modules selected (e-billing, matter management, CLM, vendor management), and integration complexity. The go-to-market motion relies on direct enterprise field sales targeting General Counsel and Legal Ops decision-makers, supplemented by an inside sales team for mid-market deals and a tiered partner program (Harbor Gold, Sterling Analytics Silver, Legal Operations Consulting Silver) for implementation and analytics services. In 2025, the product was upgraded to CounselLink+, embedding Protégé AI for invoice and matter summarization, predictive spend insights, and contract analysis, and was recognized as the Legal Tech Breakthrough "Overall Legal Spend Management Solution Provider of the Year." As a product line within RELX, CounselLink does not report standalone financials but leverages the parent conglomerate's global enterprise distribution and content assets as primary competitive advantages.

CounselLink firmographics

Firmographics
Name
CounselLink
Legal name
LexisNexis (a division of RELX Inc.)
Website
https://counsellink.com
Company type
Public
Operating status
Operating
Short description
CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform from LexisNexis (RELX Inc.) that provides matter management, legal e-billing, contract lifecycle management, and AI-powered analytics for corporate legal departments, Fortune 500 enterprises, mid-market companies, and local government legal teams.
Ownership category
akta.pro rank

CounselLink industry classification

Industry
Product category
Enterprise Legal Management Software
NAICS
Custom Computer Programming Services (541511), Administrative Management and General Management Consulting Services (541611)
SIC
Services-Engineering, Accounting, Research, Management (8700)
akta.pro primary industry
Vendor & Contract Management (Software/Cloud) (BPAEAOAD)
akta.pro secondary industry
Litigation Support & Expert Witness Services (BPAHALAG)

Keywords

  • Enterprise legal management
  • Legal spend management
  • Legal e-billing software
  • Matter management software
  • Contract lifecycle management

Where CounselLink is headquartered

Location

Headquarters

HQ city
Raleigh
HQ country
United States
HQ region
North America

Offices1 record

Markets served

CounselLink business model

Business model
GTM type
B2B
Offering type
Software
Cost components
Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

  1. Enterprise Software Subscription: CounselLink+ operates on a subscription-based model with customized pricing tailored to organization size, specific capabilities required, and integration needs. Pricing varies based on the scope of deployment (e-modules selected, user count, and integration complexity). The solution is sold as an annual or multi-year contract with flexible subscription tiers.

Pricing tiers

ModelBillingPrice
SubscriptionMulti-year contractCustom enterprise pricing based on organizational requirements

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

CounselLink product offering

Product offering

Core offering

CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform sold to corporate legal departments that integrates legal e-billing, matter management, contract lifecycle management (CLM), outside counsel/vendor management, and the LexisNexis Protégé AI assistant. It is offered as a configurable suite of modules that customers can subscribe to individually or as an integrated deployment, backed by implementation and professional services from LexisNexis and certified partners.

Product overview

CounselLink+ is a unified Enterprise Legal Management (ELM) platform designed for corporate legal departments, offering a platform-plus-modules architecture. The core CounselLink+ platform integrates e-billing, matter management, contract lifecycle management (CLM), vendor management, and the Protégé AI assistant—all within a single unified workspace connected to the LexisNexis ecosystem. Organizations can subscribe to individual modules or the full integrated suite, with configurable dashboards and role-based controls enabling tailored deployments for Fortune 500 enterprises and mid-sized legal departments.

Differentiator

Problem solved

Functional benefit

Brands

  • CounselLink+: Enterprise Legal Management (ELM) solution offering enhanced matter management, legal spend control, and AI-powered insights through LexisNexis Protégé for corporate legal departments.
  • Protégé

Products and services

  • CounselLink+ Cloud-based Enterprise Legal Management (ELM) platform for corporate legal departments, integrating matter management, legal e-billing, contract lifecycle management, vendor management, and AI-powered insights; available as individual modules or as a full integrated suite with multi-year subscription contracts.
  • Legal E-Billing Electronic billing module that automates legal invoice review, detects billing anomalies, validates rates, and provides legal spend visibility with trends and forecasting for corporate legal departments and outside counsel programs.
  • Matter Management Comprehensive matter management module enabling legal teams to manage, route, and track all legal department work with intake tools and centralized matter information from intake to closure.
  • Contract Lifecycle Management (CLM) Contract lifecycle management module enabling organizations to manage contracts from initiation through execution and renewal, integrated with the broader CounselLink+ ELM environment and AI-powered contract analysis.
  • Vendor Management Outside counsel and vendor management module for tracking law firm relationships, fee arrangements, rate approvals, timekeeper approval, and vendor performance within the CounselLink+ environment.
  • LexisNexis Protégé AI-powered assistant embedded within CounselLink+ that provides intelligent summaries of invoices and matters, suggested action items, predictive insights into legal spend and matter outcomes, and task automation for legal professionals.
  • CounselLink+ Professional Services Implementation, training, and ongoing support services for CounselLink+ deployments, including consulting and certification programs delivered by LexisNexis and certified partners.

Quantifiable outcome

  • Elimination of manual invoice distribution and tracking through automated e-billing workflows
  • +3 more outcomes

Companies that use CounselLink

Customer profile

Named customers3 records

Segments4 records

Ideal customer profiles3 records

CounselLink technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability5 records

Feature7 records

CounselLink partnerships and signals

Strategic signal

Partnerships

Three partnerships are on record, tiered core.

  • HarborcoreImplementation/ SI/ Consulting PartnerHarbor is a Gold Tier Partner of CounselLink+, providing consulting, implementation, and support services for CounselLink+ deployments. As a certified partner, Harbor helps ensure flawlessly delivered and implemented solutions for clients.
  • Sterling AnalyticscoreImplementation/ SI/ Consulting PartnerSterling Analytics holds Silver Tier Partner status with CounselLink+, offering analytics and consulting services that complement the ELM platform's native reporting and insights capabilities.
  • Legal Operations Consulting, LLCcoreImplementation/ SI/ Consulting PartnerLegal Operations Consulting, LLC is a partner of CounselLink+ providing specialized legal operations consulting services to support successful ELM implementations and optimization.

Scale indicators2 records

Recent moves5 records

Expansion highlights2 records

CounselLink competitors and assessment

Company assessment

Emerging players

  • Icertis: Icertis is a leading enterprise CLM provider with AI-driven contract intelligence, competing with CounselLink+'s CLM offering and increasingly entering the broader legal-ops stack.
  • Ironclad: Ironclad is a modern CLM platform with AI-driven contract analysis, overlapping CounselLink+'s CLM module and increasingly competing for the same in-house legal buyer.
  • Evisort: Evisort provides AI-powered contract analysis and management, directly intersecting with CounselLink+'s CLM and contract intelligence features.
  • LinkSquares: LinkSquares provides AI-powered contract lifecycle management and analysis for in-house legal teams, overlapping with CounselLink+'s CLM and contract analytics capabilities.
  • Agiloft: Agiloft is a customizable CLM platform with AI capabilities, competing with CounselLink+'s CLM module for in-house legal contracts and enterprise workflows.

Direct peers

  • Onit: Onit offers ELM, matter management, and spend management solutions targeting in-house legal teams, competing head-to-head with CounselLink+ in enterprise corporate legal departments.
  • Brightflag: Brightflag is an AI-powered legal spend management and e-billing platform for corporate legal departments, directly overlapping CounselLink+'s legal spend and invoice review capabilities.
  • Mitratech: Mitratech's TeamConnect and Mitratech Portfolio+ are direct ELM/e-billing competitors to CounselLink+, serving corporate legal departments with matter management, spend management, and vendor management.
  • Wolters Kluwer ELM Solutions: Wolters Kluwer's ELM Solutions (including Passport and TYMetrix) provides e-billing, matter management, and analytics for corporate legal departments — a near-direct functional competitor.

Broad incumbents

  • Thomson Reuters (Legal Tracker / Elite 3E): Thomson Reuters is a broad incumbent in legal technology with Legal Tracker (spend management) and Elite 3E (practice management) directly overlapping CounselLink+ capabilities, sold alongside its larger legal-research portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

CounselLink compliance and trust

Trust signal

Compliance1 record

CounselLink financial estimates

Financial estimate

Revenue estimate

Valuation estimate

CounselLink leadership team

Management profile

Number of profiles

CounselLink funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

CounselLink M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CounselLink

What does CounselLink do?

CounselLink+ is a cloud-based Enterprise Legal Management (ELM) platform sold to corporate legal departments that integrates legal e-billing, matter management, contract lifecycle management (CLM), outside counsel/vendor management, and the LexisNexis Protégé AI assistant. It is offered as a configurable suite of modules that customers can subscribe to individually or as an integrated deployment, backed by implementation and professional services from LexisNexis and certified partners.

Is CounselLink a public or private company?

CounselLink is a public company. It is classified as public and is currently operating.

When was CounselLink founded?

CounselLink was founded in -1.

Where is CounselLink based?

CounselLink is headquartered in Raleigh, United States, in the North America region.

How does CounselLink make money?

One revenue line is on record: enterprise Software Subscription.

Who are CounselLink's main competitors?

Emerging players on record are Icertis, Ironclad, Evisort, LinkSquares and Agiloft. Direct peers are Onit, Brightflag, Mitratech and Wolters Kluwer ELM Solutions. Thomson Reuters (Legal Tracker / Elite 3E) is listed as a broad incumbent.

Does CounselLink have an API?

No public API is recorded for CounselLink.

What industry is CounselLink in?

CounselLink's product category is Enterprise Legal Management Software. Its primary akta.pro industry code is BPAEAOAD, Vendor & Contract Management (Software/Cloud), with a secondary code of BPAHALAG, Litigation Support & Expert Witness Services. Its NAICS code is 541511 and its SIC code is 8700.

Unlock the full company data

50 free credits on sign-up, no credit card required.

Contact sales
Live signals
PR NewswireLexisNexis CounselLink Recognized in Hyperion Research Report as a Leading Enterprise Legal Management SolutionHyperion Research recognized LexisNexis CounselLink as an Enterprise Legal Management Advanced Solution in its MarketView Report, awarding it Market Leader, Highly Innovative, and Advanced Solution distinctions based on an assessment of over 500 hours of industry benchmarking and vendor briefings. The report specifically cited CounselLink's Invoice Compliance Automation, Platform Maturity, Performance Metrics, and Law Firm Payments capabilities as market-leading or highly innovative. Eyal Iffergan, President of Hyperion Research, noted that legal operations teams prioritize quality service and effective collaboration, positioning the recognition as validation of CounselLink's alignment with industry needs.PR NewswireLexisNexis CounselLink Releases 2021 Enterprise Legal Management Trends ReportLexisNexis CounselLink released its 2021 Enterprise Legal Management Trends Report, based on over $40 billion in legal spend data covering nearly 8 million invoices and one million matters. The report found that despite pandemic pressures on legal departments to reduce outside counsel spending, U.S. law firm partner hourly rates increased by an average of 3.5% in 2020 compared to 2019, with the largest 50 firms accounting for 49% of outside counsel spend. The report also noted that alternative fee arrangements continue to gain adoption, with 16.8% of matters having some portion billed under non-hourly arrangements in 2020.PR NewswireLexisNexis CounselLink Teams with LSQ to Offer New CounselLink FastTrack Invoice Payment ServiceLexisNexis CounselLink announced the launch of CounselLink FastTrack, a new invoice payment service developed in collaboration with capital solutions provider LSQ. The service enables law firms to receive payment within one business day of invoice approval while allowing corporate legal departments to extend payment terms to 60 days or more and earn up to 2% cash back on processed invoices—potentially generating $500,000 annually for corporations spending $25 million in legal fees. The platform addresses the conflicting cash flow needs between law firms facing payment delays and corporate legal departments preferring extended payment terms.PR NewswireLexisNexis CounselLink Releases the 2019 Enterprise Legal Management Trends ReportLexisNexis CounselLink released its sixth annual Enterprise Legal Management Trends Report, based on data from over $33 billion in legal spend across nearly seven million invoices and 1.7 million matters. The report found that use of alternative fee arrangements increased from 9.2% to 12.2% of matters, the rate gap between the largest 50 law firms and second-tier firms (501-750 lawyers) widened to 53%, and the largest firms captured 57% of high-rate work in 2018 through April 2019 compared to 50% in 2016. The law firm consolidation trend has stabilized, with 61% of companies now using 10 or fewer firms for at least 80% of outside counsel fees.