Electronic billing has gained mainstream attention in the legal profession because it enables law firms to deliver invoices in a more detailed and consistent format to satisfy clients' growing demands for more precise billing information. Consequently, e-billing has became one of the most widely and quickly adopted legal technologies among Fortune 100 companies.
Corporate counsel and vendors encouraged firms to use such technology with promises that e-billing would revolutionize the attorney-client relationship. Clients promised their firms a faster payment cycle, expedited dispute resolution, lower administrative costs and a more efficient method for billing. Knowledgeable law firm administrators found that these systems can identify billing patterns, analyze time and resource expenditures and unify billing practices among practice groups. These programs also give firms more tools to ensure compliance with client billing guidelines. The firms that use these systems effectively have established a stronger bond with their corporate clients.
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September 29, 2005
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