Electronic billing systems have become very popular in corporate law departments because they can save both time and money. Invoices can be routed electronically, reducing cycle time, and can be automatically compared with a company’s outside counsel guidelines, guaranteeing compliance. The concept behind electronic billing is that it is almost no additional work, that the invoice approval process is faster, and that the firm will get paid more quickly.
Unfortunately, the reality of electronic billing is a little more complicated. Law firm clients often use different electronic billing systems, requiring the creation of customized invoice formats or manipulation of electronic files manually. As more clients continue to require electronic bills from their outside law firms, the challenge is in finding ways to more efficiently create and manage electronic invoices.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
