|E-billing is the foundation for Legal Spend Management. By capturing invoice data electronically, companies can more proactively budget, plan for and report on outside legal spend. With Bottomline's legal spend management solutions, clients have seen a savings of more than 10%, and this begins with e-billing.
By providing law firms the ability to submit invoices electronically, departments receiving the invoices can become more efficient. First, the client specifies the billing guidelines within the legal spend management system. When the invoice is submitted by the law firm, it goes through Bottomline's
rigorous rules engine and is either returned to the firm to fix guideline violations, or it is sent to the bill reviewer's personal dashboard for approval. Any suspect line items are clearly marked with flags, and the reviewer can decide whether or not to make changes to the bill or submit it to accounting for payment. All invoices arrive in a consistent format, with the business rules applied in real-time.
Not only does implementing a legal spend management solution improve efficiency of bill review, it also provides a clearer view of where dollars are being spent with outside counsel - by matter, by expense type, by firm, by attorney. Comprehensive reporting provides up to the minute reports, such as staff productivity and invoices outstanding.
Armed with the information provided through capturing bills electronically, costs can be controlled more proactively and companies can begin to practice better forecasting of outside legal spend.
Together, these benefits add up to more than 10% savings on outside legal spend. Streamlining of the labor-intensive legal invoice review process improves department efficiency, improves insight into where the spend is going, and provides the ability to proactively control outside legal costs.