Law firms are struggling to keep apace with client requests for e-billing. Most law firms have scores of clients using many of the dozens of third party e-billing systems, and each client has different requirements governing invoice approval for payment. The inability to meet these requirements fully can cause dramatic and acute AR and cash flow problems for firms.
Complying with client mandates for e-billing requires a significant additional investment of time and resources.
The tools available to create and edit e-bills are generally extremely poor. Client requirements documents are often poorly drafted, and client requirements that vary from standards are commonplace. Add in the rigors of a 30 day billing cycle, additional documents required with invoice submissions and client deadlines for the submission of line items, and many firms are routinely faced with a financial catastrophe waiting to happen.
Firms without a centralized, cross-trained e-billing function, organized documentation, and efficient workflows and tools risk not only serious financial consequences but potential damage to client relationships.
Hyperion offers a myriad of services with respect to solving law firm e-billing issues. We can:
- Provide assistance with troubleshooting invoice issues
- Train e-billing resources
- Create a synopsis of client requirements documents
- Fine-tune the time and billing system for optimal e-billing performance
- Create an e-billing manual for your firm
- Optimize both paper and electronic billing workflows
- Provide assistance with selecting tools to create, edit and manage LEDES invoice files
- Assist with selecting a law firm e-billing administration tool
Hyperion consultants include globally-recognized experts in legal e-billing who helped to create the discipline and are among its most ardent critics. We understand the burdens placed on legal vendors and focus on delivering the most efficient solution for your firm.
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