How to Manage Legal Spend
Published on :
06/04/2020
06
April
Apr
04
2020
Legal billing software is fundamental when it comes to managing budgets and optimizing the workflow of everyday transactions in a legal environment.
The E-Billing solution by Legal Suite is an electronic billing module that is fully compliant with the international Legal Electronic Data Exchange Standard (LEDES).
E-Billing installs billing traceability from the moment an invoice is issued up until it is paid. The module automates the billing control process detecting and making sure you promptly recieve notifications of errors, adjustments, and more.
The module directly allocates related costs to each case, making it possible to prepare personalized budget reports in a few clicks, and to precisely track all costs in real time, globally or broken down by case.
In addition to cost control, this E-Billing solution is a tool for measuring and evaluating the effectiveness of external counsel.
The module rationalizes spending by concentrating on the best return on investment and redirects resources toward higher added value in lieu of your legal spend goals.
The module rationalizes spending by concentrating on the best return on investment and redirects resources toward higher added value in lieu of your legal spend goals.
Here are a few highlights of Legal Suite’s E-Billing module :
- Invoice projects according to fees, applied discounts, and proper currency
- Automate and track validation procedures
- Adjust fees billed to the legal department at any moment
- Monitor the entire lifecycle of an invoice from the issue up to its payment
- Obtain key performance indicators on the quality of billings and savings
- Real time monitoring of your legal expenditure
The E-Billing application is natively associated with Legal Suite’s LS Open Law® Collaborative Portal.
This Portal allows for outsourced legal professionals and firms to upload invoices directly in a secure environment. This benefit expedites requests and simplifies the entire internal and external legal billing process, ensuring exchange traceability and allowing in-house and outside counsel to work together to track all matter information within.
Precise, dynamic and efficient, this module demonstrates the commitment and expertise of Legal Suite in the support of legal risk management, optimizing control on expenses as well as legal professional’s precious time. The E -Billing Module provides an automated and secure solution for controlling your legal spend.
Legal Suite’s E-Billing module, a look at the benefits with Legal Suite.
History
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