Case Study: Global Oil and Gas Company achieves $420K in annual savings with Epiq

Audit of Existing IP Management Technology Results in $420K in Annual Savings

The client, a global oil and gas company, faced a challenge in justifying the annual $300,000 license fee for its existing intellectual property management technology. To audit the system's functionality and identify areas for improvement, they engaged Epiq and its PracticeView assessment and transformation methodology.

Epiq conducted stakeholder interviews and a process review, which led to recommendations for streamlining workflows and better utilizing the technology. The solution included automating 13 of 20 manual steps and updating filing strategies. This resulted in a 75% reduction in cycle times and $420,000 in total annual savings for the client, including $150,000 saved directly from the updated patent strategy.