Electronic billing systems have become very popular in corporate law departments because they can save both time and money. Invoices can be routed electronically, reducing cycle time, and can be automatically compared with a company’s outside counsel guidelines, guaranteeing compliance. The concept behind electronic billing is that it is almost no additional work, that the invoice approval process is faster, and that the firm will get paid more quickly.
Unfortunately, the reality of electronic billing is a little more complicated. Law firm clients often use different electronic billing systems, requiring the creation of customized invoice formats or manipulation of electronic files manually. As more clients continue to require electronic bills from their outside law firms, the challenge is in finding ways to more efficiently create and manage electronic invoices.
