Beyond the Docket: Gain Financial Control of Your IP with PM Corporate

For years, corporate IP teams have told us about a major gap in their workflow: the disconnect between their IP Portfolio and their budget. You track your matters meticulously, but when it comes to the finances – the invoices from outside counsel, forecasting future costs, and reporting on spending – you are often forced to rely on a patchwork of spreadsheets and expensive, single-purpose software.

We heard you. That’s why we created AppColl PM Corporate, a product designed specifically for corporations. Its star feature is the brand-new Finances module, built from the ground up to give you clarity and control over your IP spending. If you were on PM Plus, it’s easy to switch—most of the software is the same, so there isn’t a steep learning curve. It is the AppColl you know and love but enhanced for corporations.

Why a New Module? Billing vs. Finances

You might be wondering, “Doesn’t AppColl already have a Billing module?” We do, but it was designed for a completely different job. The Billing module is for law firms to create and send invoices to their clients.

As a corporation, your needs are the exact opposite: you receive, review, and approve invoices from multiple law firms and foreign associates. This is a fundamentally different workflow that demands a purpose-built tool. Using a billing module to manage incoming invoices is like trying to fit a square peg in a round hole. The Finances module is the round peg you’ve been looking for.

Master Your IP Budget: The Core Benefits of the Finances Module

The Finances module is built on three powerful pillars designed to help you manage every aspect of your IP budget.

1. Report on the Past: Know Exactly What You’ve Spent

The single most requested feature from our corporate clients has been the ability to easily report on actual spending. With the Finances module, you can finally ditch the complex spreadsheets.

• Import Historical Data: Easily bring in past invoices to get a complete financial picture of your portfolio.
• Granular Reporting: Generate reports and charts to see how much you’ve spent per matter or per law firm.

2. Predict the Future: Budget with Confidence

Once you know what you’ve spent, the next logical step is to predict what you’re going to spend. Our new forecasting tool makes this easy.

Optimized for corporations that have flat fee agreements with their outside counsel, the system allows the creation of rules that trigger when matter or task information changes to automatically generate a forecast. For example, you can setup a rule that automatically generates a forecast of a specific amount whenever you receive an office action from the PTO. The forecast can vary in amount depending on the matter type, country, law firm, or other factors.

3. Control the Present: Streamline Invoice Review and Approval

How much time and money is lost reviewing and approving invoices? The Invoice Review feature is designed to make this process efficient and transparent, potentially replacing expensive standalone tools.

• Actionable Insights: Answer critical business questions with a few clicks, turning financial data into strategic insights. 
• Assisted Review: The system helps you review incoming law firm invoices, flagging potential duplicate line items or those exceeding the forecast.
• Custom Approval Workflows: Set up Signature Authority flows. You can assign specific reviewers to each law firm and establish a clear chain of command for approving payments.
• Reject and Resubmit: If an invoice has errors, you can reject it directly in the system. The law firm is notified and must resubmit a corrected version for approval, ensuring you only pay for what is correct.

The Perfect Upgrade for Your Team

PM Corporate is the ideal solution for any company managing an IP portfolio, whether you are new to AppColl or a long-time user.

• For Tandem™ Users: Tandem is a great free tool for viewing your portfolio, but it isn’t designed to manage your finances and or internal workflows. Upgrading to PM Corporate unlocks powerful reporting, budgeting, and the ability to create your own tasks and triggers, giving you full control of your IP Portfolio.
• For Invention Manager™ Users: Combine PM Corporate with Invention Manager (IM) to create a seamless, end-to-end IP lifecycle platform. Track an idea from disclosure in IM all the way through prosecution and maintenance in PM Corporate, including every dollar spent along the way.
• For Corporations Using PM Plus/Pro: You’re currently using a product designed for law firms. By switching to PM Corporate, you get a toolset, especially the Finances module, that is tailored specifically for your needs, allowing you to manage incoming invoices and gain powerful financial insights you never had before.

Bring your docketing and your financials together in one powerful platform. Visit appcoll.com/product-demo to see it PM Corporate in action.