If your team is like most corporate legal departments, invoice review can present challenges. Reviewing bills from outside counsel is one of the time-consuming and mundane tasks for which corporate attorneys are responsible. These busy professionals have a myriad of responsibilities, most that leverage their legal expertise and drive greater strategic value for their teams. Unfortunately, that means that invoice review doesn’t always get enough attention. Evaluating each line item of a complex legal bill, identifying non-compliant entries, and engaging in adjustment and appeal cycles for each line takes up valuable time and can impact productive working relationships on day-to-day matters with outside counsel.
However, effective bill review is incredibly important to driving favorable compliance outcomes, improving data quality, and controlling legal spend. When done correctly, it also helps law firms understand how to use best billing practices and submit compliant invoices, increasing billing efficiency over time. That’s why many companies have chosen to engage the LegalVIEW® BillAnalyzer Expert Service from Wolters Kluwer’s ELM Solutions. This valuable professional service helps legal departments maintain a productive and money-saving bill review process while freeing in-house attorneys to focus on more valuable tasks. The result is up to 10% savings on your legal spend and up to 20% improvement in guideline compliance.
How does it work?
Our data scientists and artificial intelligence (AI) engineers work together to develop machine learning algorithms that drive incremental value in the bill review process to power better outcomes from bill review teams. These algorithms are trained on our proprietary LegalVIEW database, the largest source of legal performance data in the world, with over $130 billion in detailed legal spend information. Then our experienced human reviewers use the LegalVIEW BillAnalyzer AI model output to understand the complexities of each invoice and take the necessary actions to bring them into compliance before handing them off to your internal team for final approval.
The process begins with AI technology that reviews each invoice at the line item level and highlights both potential violations and the type of non-compliance so that our bill review team can focus their expert review. The review team combines its expertise with the AI’s recommendations to make adjustments to non-compliant line items according to your specific billing guidelines.
Finally, our experts help law firms comply by providing support and best practices for billing; the consistency of an AI-powered bill review process helps to drive reliable review and better billing behavior so firms can ensure that their future invoices are compliant when they are submitted. This is key to a productive relationship with law firms in a bill review program: it’s not just about flagging violations and refusing to pay firms as invoiced. It’s about helping firms to better understand how to comply with the billing guidelines they have already accepted. It helps firms to better serve you and keep you happy as a client, which is their goal.
Who are we?
Our expert review team has an average of 13 years of experience in private practice, corporate legal, and insurance claims. Today, they have a singular focus on legal invoices, reviewing about $2 billion in legal spend annually. This experience helps our teams provide clients with efficient, knowledgeable service that helps you improve your program results, driving cost savings and compliance. Our project managers and team leaders partner with you throughout your engagement to ensure that every aspect of our service is specifically tailored to your business goals.
The combination of human expertise and advanced technology maximizes the value of your invoice review process, helps your outside counsel improve the service they provide, and enables in-house attorneys to spend their time on the tasks that help them bring the greatest value to the legal department.
Please visit our website to learn more about the LegalVIEW BillAnalyzer Expert service.