Many law firms, of all sizes, are now generating their legal bills in electronic format; submitting them through an e-Billing vendor system to the client. For those firms using full e-Billing, metrics can be used to monitor how well the function is performing. Inefficient processes will lead to a backlog of bills waiting to be passed to the client, bills being rejected and having to be repeatedly rectified, delays at various stages, and ultimately an impact on cash flow – all of this leads to unhappy clients and partners.
Although nowhere near as critical as air safety, several law firms have established the principle of running “pre-flight checks” on their e-Bills before submitting them to a legal spend management or e-Billing system such as BusyLamp. This is done to correct any obvious errors on the e-Bill and therefore reduce the % of invoices that get rejected in the first stage of the validation process. This leads to invoices being accepted and paid by the client faster. Over time, common errors can be identified and processes at the firm made more accurate and efficient.
UTBMS codes enable legal operations teams to compare and contrast the cost and efficiency with which different law firms execute similar matters. But the codes can cause confusion and outside counsel can struggle to accurately use UTBMS and LEDES codes in their time recording. AI (artificial intelligence) in e-Billing software solves this.