Legal e-Billing refers to software that replaces the traditional billing model where legal teams receive paper bills from their law firms via email or snail mail. With e-Billing, legal teams no longer have to review stacks of paper bills and manually enter line items into spreadsheets to generate reports. e-Billing helps track spending with the increased visibility it provides.
Legal e-Billing has several benefits:
- Lower Costs – e-Billing is suited for both large and small legal departments; most systems have total costs well below 1% of their total legal spend
- Efficiency – e-Billing streamlines the billing and approval routing processes, saving time from pulling reports while making invoice data available for easier tracking, reporting, and decision making
- Ease of Use – Unlike legacy solutions, modern e-Billing software is user-friendly right from installation to the user interface and requires minimal training. It also enables in-house and outside counsel to work together.
- Key Metric Reporting – With e-Billing, legal teams can leverage technology to collect valuable data for advanced reporting and analytics. Greater visibility into legal spend allows legal teams to make more informed decisions by identifying trends, comparing vendor rates, and more.