InsideCounsel » September 2007
E-Billing Expansion
E-billing systems that only transmit invoices are so pass�. The concept of electronic billing has taken time to percolate through the collective consciousness of the legal profession. But looking at the number of law firms and corporations today that have e-billing systems in place, it's safe to say the idea has caught on. �
E-billing systems that only transmit invoices are so pass�.
The concept of electronic billing has taken time to percolate through the collective consciousness of the legal profession. But looking at the number of law firms and corporations today that have e-billing systems in place, it's safe to say the idea has caught on.
The interesting thing to note, however, is that today's e-billing applications have evolved into comprehensive matter management systems capable of providing document storage, budget updates and thorough analytical reports on outside legal work
Many folks continue to hold the perception that e-billing is simply a way to reduce paper in their office. And while that is a rewarding repercussion from adopting an e-bill system, it's only the tip of the productivity iceberg.
Over the last several months and years, we've witnessed the beneficial alliance and gradual integration of e-billing systems with matter management databases. It's a perfectly arranged marriage.
Electronic billing systems succeed because both a law department and an outside law firm agree on a set of standards for transmitting invoices that report legal work. These standards are usually based on the Legal Electronic Data Exchange Standard (LEDES). Having standards in place ensures that a corporate law department receives information about outside legal work in a consistent, parsable format. And because the information arrives in a predictable format, the data can be collected, re-arranged and aggregated to provide a financial overview of the outside legal work.
Serengeti Law is one company that embodies this idea of integration. They even identify themselves with the all-encompassing tagline "The Global Legal Platform." Financial management is only one piece of their system along with matter management, document management and reporting. Competitor CT Tymetrix offers a kindred comprehensive service.
Up until May 2007, DataCert remained fixated solely on e-billing before they acquired matter management software provider Corprasoft. The acquisition further emphasizes the expanding creep of e-billing.
Other industry players such as TrialNet, LAWTRAC, Bridgeway and Mitratech are swimming with the trend and tout their panoptic services covering matter management, compliance services, e-billing initiatives, document storage, knowledge sharing, budget tools and more.
The integration of e-billing and matter management systems appears to be following a larger trend in corporate law departments. Last year's survey from the ACC and Serengeti reported that in-house counsel are starting to focus more on compliance issues and the legal implications of company activities than simply controlling outside legal costs. The bottom line is always crucial, but in-house lawyers are becoming more sophisticated in tracking the once-minor details of outside legal work, the nitty-gritty specifics on expenses and the general fiduciary responsibilities of their outside legal partners.
