Christine Smith at Aderant on the benefits an e-billing solution brings
With growing law firm competition, it’s more important than ever to ensure that efficiencies are maximised, and this includes billing. Billing is more than a simple submission process: it’s a form of communication with clients, and directly impacts on firm profitability. Therefore, more firms are looking to streamline the current process. But will an e-billing solution truly add value, not only for the billing experts but also for the firm? From a quantitative and qualitative standpoint, e-billing must clearly demonstrate improvements in efficiency and profitability in order to make the transition worthwhile.
The cost of inefficiency
Many firms process hundreds, or even thousands, of bills each month. Fee earners are busy with multiple different matters and accurate time entry can often be forgotten. Once time is entered and vetted by either fee earners or billers, the invoice is finally sent.
However, the client’s bill might not meet agreed client guidelines – resulting in the bill being rejected. With an overwhelming number of bills, appeals are delayed because of lack of notification of rejection, deadlines are missed, and the firm does not receive payment …
This article was first published in the October 2019 issue of Briefing ‘Buying signals’ click to read the full article
