Provides a financial platform tailored for intellectual property (IP) teams, enabling law firms and IP owners to automate cost forecasting, budget creation, and spend management. By integrating with IP management and eBilling systems, it reduces manual processes, identifies excessive fees, and saves firms up to 40% annually while cutting budgeting time by over 60% for IP owners.
Funding
Funding not disclosed
Founders
Product
Problem
Law firms and intellectual property (IP) owners face challenges in accurately forecasting costs, creating budgets, and managing spending related to patents and trademarks, often relying on manual processes and outdated tools. This can lead to inaccurate financial planning, difficulty in identifying excessive fees, and wasted time.
Solution
Prokurio offers a financial platform designed specifically for IP teams to automate cost forecasting, budget creation, and spend management. The platform integrates with existing IP management systems (IPMS) and eBilling systems to streamline workflows and provide greater transparency into IP costs. By automating these processes, Prokurio enables users to quickly model the impacts of various scenarios on future IP portfolio costs, identify above-market costs, and make data-driven decisions. The platform offers tools to manage fee schedules, client-specific discounts, and custom fees, providing complete control over IP cost management.
Target Audience
Prokurio targets law firms and IP owners, including corporate IP departments, seeking to streamline IP cost forecasting, budget management, and invoice review processes.
Features
- IP Forecaster automates the creation of IP cost estimates for law firms, leveraging PTO data.
- Strategic Planner enables IP owners to create detailed financial plans for any IP type in any jurisdiction, using data from any IP Management System.
- IP Spend Control automates IP invoice review, checking every line item against currency benchmarks, PTO fees, and billing guidelines.
- Dashboards instantly identify above-market currency, agent, and country costs.
- Client-specific discounts can be created and applied globally or to specific phases.
- Integration with IPMS and eBilling systems via APIs.