Here's what you need to know.
The latest in legal bill auditing
Organizations benefit from using Legal Spend Management through cost reductions, efficiency, and greater insight for improved decision-making and business results.
Bottomline remains at the forefront of delivering unprecedented results to organizations. Our Legal Spend Management solutions include best-in-class SaaS technology solutions and Expert Bill Review (EBR) programs, all of which are supported by our expert staff consisting of more than 130 attorney auditors.
The findings
Bottomline’s complimentary Feasibility Study offers prospective clients an opportunity to view the results of the invoice analysis process using actual client invoices. Often, a Feasibility Study will help a prospective client to better understand litigation spend management as well as some areas of guideline compliance that may need attention.
The following data provides a look inside the results of feasibility studies that were completed on behalf of prospective insurance carrier clients over the past 3-years.
84% of invoices have at least one non-compliant line item, with 38% having 6 or more deductions.
Still have questions?
Why have a legal spend management program?
Without a program, you are paying more than you should. A Legal Spend Management program will help you identify areas of cost reduction and maintain control of your legal spend.
Why review all invoices?
On average, only 14% of invoices are “clean”, with no billing violations resulting in deductions. 84% of invoices have at least one non-compliant line item, with 38% having 6 or more deductions.
Why review every line item?
On average, there are 3 non-compliant entries per invoice. With an average of 46 line items per invoice, it means that 6.6 line entries out of every 100 submitted are non-compliant.
Why review every timekeeper?
On average, 2.45 timekeepers are billing on an invoice - and on average, 0.9 hours are deducted per timekeeper, per invoice (3.6 minutes per line item). This means that as little as 0.9 hours in violations per timekeeper per invoice can increase your legal costs by up to 7%.
Why are reporting and advanced analytics tools important?
Access to trends, firm/attorney performance data and information that will help you reduce costs, drive results and better manage your legal spend.
