What is gross spend volume in SAP SAP-LEGAL - Global Field Legal?

SAP Term: gross spend volume

• Component: SAP-LEGAL

• Component Name: Global Field Legal

• Description: The monetary amount of the Usage Metric limitation for a Cloud Credits Period.

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• Key Concepts: 
  Gross Spend Volume is a term used in SAP-LEGAL Global Field Legal Spend Management. It is the total amount of money spent on legal services, including both external and internal costs. This includes all costs associated with legal services, such as attorney fees, court costs, and other related expenses.
  
  How to use it: 
  Gross Spend Volume is used to track the total amount of money spent on legal services. This information can be used to analyze spending trends and identify areas where cost savings can be achieved. It can also be used to compare spending across different departments or organizations.
  
  Tips & Tricks: 
  When tracking Gross Spend Volume, it is important to include all costs associated with legal services, including both external and internal costs. This will ensure that the data is accurate and up-to-date. Additionally, it is important to track spending over time in order to identify any changes in spending patterns or areas where cost savings can be achieved.
  
  Related Information: 
  Gross Spend Volume is closely related to other terms such as Total Legal Spend and Total Legal Cost. These terms are used to measure the total amount of money spent on legal services over a given period of time. Additionally, Gross Spend Volume can be used in conjunction with other metrics such as Average Cost per Matter or Average Cost per Hour to gain further insight into legal spending trends.