Many large corporations and insurance companies deal with thousands of legal invoices every year. If these invoices arrive in paper format, they are likely to pass through many hands and be paid slowly. Reporting is virtually impossible without having information in electronic format, and the process of data entry from paper to electronic is painstakingly inefficient and often laden with errors.
Legal eXchange™, Bottomline Technologies' Legal Spend Management solution, changes all this with electronic billing, budgeting and reporting. Legal teams using Legal eXchange are more efficient, have better insight into their invoices, and can thus proactively control outside legal spend.
The heart of the Web-based solution is a powerful rules engine that, based on individual departmental guidelines, cleans legal bills prior to their arrival to the approver. If the rules engine finds errors in the invoice, the law firm has the ability to update any errors and re-submit it to their client. Users then view the cleaned electronic invoice in a consistent format, and have any potential problem line items highlighted for easy viewing and reconciliation. Because invoices are viewed and approved electronically, they can be reviewed and paid more quickly – allowing for the negotiation of prompt payment discounts with law firms.
Legal eXchange provides for a collaborative relationship between firm and client and with this, comes new ways to save on legal spend through shared objectives and a free flow of information with outside counsel. From the creation of mutually agreed-to budgets, to discussion forums, Legal eXchange's communication and collaboration features take legal spend management to new levels.
Legal eXchange is the clear choice of leading legal departments and their law firms. They trust Bottomline Technologies, the leader in global payments and invoice automation, to deliver greater efficiency, insight and control across every aspect of legal spend management.
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More than 8,500 law firms use Legal eXchange on a daily basis to submit electronic invoices to corporate legal and insurance claims department clients. Request our list of law firm users. |