The Legal Electronic Data Exchange Standard Oversight Committee has announced the formation of a new subcommittee. LEDES is a not-for-profit organization that works to create and maintain open-standard formats for the electronic exchange of legal billing and project management information. Their Uniform Task-Based Management System is a series of codes used to classify legal services in electronic invoices.
The new LEDES subcommittee will develop task codes for budgeting, billing and metrics measurements related to governance, risk, and compliance services. The new GRC task code set will integrate into the UTBMS. The GRC subcommittee, in addition to developing the code set, will also recommend supplemental codes to the Time Keeper Attributes, Budget, Activity and Expense Code Set subcommittees, and work with other LEDES committees on work related to budgeting and spend analytics. In future, the GRC Subcommittee will also keep the GRC codes compatible with other LEDES formats and code sets.
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