It has become clear that, for law firms, not only is electronic billing here to stay, but adoption by corporate clients will continue to accelerate.
In principle, the benefits to a firm are obvious and sound. The corporate legal department will receive its bills electronically through a single interface that also allows it to route, review, and approve them. As a result, a law firm should be able to more easily ensure compliance with the client’s guidelines, expedite dispute resolution when there is an issue, create valuable data that can be mined for internal use, “go green” by cutting down on paper and mailings, and ultimately accelerate payment cycles. On the face of it, the only expenses are the small fees required by e-billing vendors.
You can download the full Challenges & Solutions for Electronic Billing white paper here.