e-Billing has come a long way since its inception, and today, many corporate legal and insurance claims departments depend on e-Billing solutions to manage the complexities of the legal invoicing process. If you’re among those using an enterprise legal management system and e-Billing for your spend management process, you’re undoubtedly enjoying the ability to manage billing for your multiple firms and vendors, including the ability to:
- Automatically validate invoice formats
- Immediately reject duplicate invoices
- Instantly verify and validate billing rates and terms
- Clearly identify undesirable billing practices
- Automatically captures billing violations through rules
- Highlight questionable charges for further scrutiny
But what are you doing with all of that residual data? Are you using it to drive future business plans? You need to be familiar with Acuity’s e-Billing reporting feature.
With all of these benefits, you might think you’ve already extracted every bit of value the Acuity e-Billing system has to offer. In fact, for many, this is not the case. Lately, we’ve been talking to our clients and finding that there’s one e-Billing feature many users have neglected to adopt— reporting tools. If you’re not familiar with the reporting features, we encourage you to take a moment and learn more about the tools to help manage your spend in 2020.
Below are some of the key features you’ll find in the program:
- Understand how law firms are spending your money. You can analyze your own books, but are you able to get a sense of which firms are managing your cases cost-effectively? The reporting tools in Acuity’s system allow you to spot outdated workflow processes that are inefficient and prone to errors.
- Across firms, across tasks, and across the country – a complete picture. Acuity’s e-Billing reporting system is designed to give you a view across all law firms, on every invoice line item. You can set your “best practices” for specific tasks and designate allowable time for things such as research, drafting rote pleadings, or managing the subpoena and records retrieval process. The ability to hold all of the firms to the same standard will help you manage firms that are over-billing or are billing at rates not previously approved.
- Acuity’s Analytics Dashboards give you an at-a-glance overview of your costs across cases, firms, timekeepers, and tasks. With our reporting and data download tools, you can also easily pull your data and create spreadsheets and charts on your own that will allow you to compare costs across the parameters you define. And now you can evaluate firm performance and compare your firms with Firm Performance metrics and scores in an easy to read configurable scorecard.
Get the most out of your e-Billing reporting system – we’re here to help. If you’re interested in maximizing your legal billing management solution reporting features, we invite you to Book a Demo to see everything Acuity has to offer. We’ll work with you to ensure you understand how the Acuity reporting system works, we’ll assist with analyzing your reported data, and we’ll provide you with tips and shortcuts so that you can get maximum ROI from Acuity’s e-Billing system.