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EBILLING SOFTWARE - ALL YOU NEED TO KNOW
Legal e-billing software enables corporate legal departments to automate the process of review and approval (or rejection) of invoices received from law firms. It also allows law firms to submit invoices in a standardized format (LEDES), to capture detailed information about the work being billed. Legal e-billing solutions are a powerful tool to identify cost-saving measures both in the immediate term and by making use of data-driven strategies for the future.
e-Billing software produces an electric file, specific to legal. It contains not only the invoice header, matter information and bill totals, but a detailed breakdown of timelines, timekeepers and expenses coded against tasks, activities and expenses. A legal-specific e-Billing solution is essential to capture this level of detail; standard accounts payable (AP) systems cannot capture this. With the increased pressure on legal departments to improve efficiency and control costs, e-Billing is a solution that quickly generates savings that pay for the investment so is a popular software purchase for legal operations managers. The benefits of e-Billing are directly related to reducing costs so it’s easy to prove return on investment (ROI) quickly. Download our guide to building the business case for e-Billing
Legal eBilling software is typically used by corporate legal departments of medium-sized and large enterprises.
Rather than just manage and store invoices, legal e-billing software allows customers to extract more detailed spend information from invoices to enable better decision making and analysis, as well as drive automated review and approval workflows.
The cost structure of legal e-billing software varies depending on the provider. Often, however, the calculation is based on the amount of the legal spend that is annually generated by the respective legal department.
Our intelligent technologies extract data from PDF invoices and relieves smaller law firms from the burden of generating complex invoice-files.
Some law firms struggle to code invoices in a way that clients can understand. Our AI dives into unstructured invoice data, auto-classifies every task and enables automated invoice review.
Our intelligent reporting tools use unstructured invoice and matter data to generate powerful analytics that allow our clients to slice and dice the data to enhance strategic decision making.
The all-in-one legal spend management solution
Centrally manage your team’s legal billing and spend, closely track outside counsel and legal vendor costs, monitor accruals, review pre-billing work-in-progress (WIP) and control spend with automated alerts and configurable budget thresholds – improving visibility and cost certainty.
Automate invoice reviews to identify non-compliance with billing guidelines, agreed rates and other fee arrangements, streamline the approval process with configurable workflows and keep stakeholders in the loop with reminders and notifications – simplifying complex billing procedures.
Create and share RFPs with your legal service providers, set vendor selection criteria, track responses and control submission rounds, automate evaluation workflows and assess suppliers with data comparison tools – ensuring quality, cost-efficient legal services for your organisation.
REPORTING & AnalyticsConfigure dashboards to track legal spend and performance metrics, automate requests for budgets and legal staffing plans, generate standardised or personalised costs reports using our sophisticated reporting wizard – guaranteeing that your team has the data it needs to improve decision making.
Legal Counsel Real Estate Finance
“eBilling.Space is not only the most intuitive legal spend management system I've found on the market, the service we receive is also outstanding.”
GET YOUR FREE IN-HOUSE GUIDE
free in-house guide: Building a business case for legal ebilling
The guide identifies six core areas where e-billing software saves money, and gives calculations for them:
- Ensuring law firms adhere to pre-agreed billing guidelines
- Real time cost tracking and transparency, which reduces invoice surprises
- Time saved by automating invoice processing and review
- Electronic and automated legal matter and spend reporting
- Legal analytics for data driven, strategic decision making
- Effective, fair, consistent legal service provider and law firm sourcing
The guide also includes information on typical costs to factor in your return on investment (ROI) calculation, including:
- Software costs
- Implementation fees
- Internal IT and project costs
- Training and support costs
- Upgrade costs