eBillingHub Processes Two Millionth Electronic Invoice
Powerful Electronic Billing Delivery and Management Application Improves Billing Accuracy for Increased Client Satisfaction and Cash Flow
LOS ANGELES, July 29, 2011 – eBillingHub, part of Thomson Reuters, has processed more than two million electronic invoices since its introduction into the market in 2004 with a record-breaking 98,277 invoices being processed in June 2011 alone. These statistics represent a 69% year-to-date increase from the number of invoices processed during the same month last year, with the increase being attributed to the expanded adoption of the powerful eBillingHub platform.
eBillingHub is a centralized Web-based application that automatically configures each client’s codes and billing rules with its third-party e-billing vendor. eBillingHub improves billing accuracy and increases client satisfaction by speeding the revenue lifecycle, minimizing submission errors and reducing time-consuming manual steps that can slow down the billing process and create backlog. The platform is utilized by hundreds of firms, ranging from small- and medium-size organizations, to many of the AmLaw200.
One such firm is Stoel Rives LLP, a U.S. business law firm providing corporate and litigation services to a wide range of U.S. and international clients. “Since adopting eBillingHub, we do more than twice the billing in half the time, easily track ebilling clients and clear errors quickly,” said Kyle Davidson, Director of Finance & Accounting, Stoel Rives LLP.
In addition to offering clients improved invoice management and time saving efficiencies, eBillingHub also boasts a streamlined implantation process. The platform’s software as a service (SaaS) implementation enables legal and professional services organizations to go live on the system in as little as 4 hours, eliminating the hardware purchase requirements of traditionally delivered software.
“eBillingHub is on pace for a 70% growth rate in submissions over last year. The processing of two million electronic invoices, along with their rapid growth rate, are exciting milestones and we are delighted to celebrate the achievements of the eBillingHub team as we continue to execute on our mission of helping firms quickly and effectively respond to client demand for electronic invoicing,” said Kim Massana, a president within Thomson Reuters Business of Law division.
To learn more, visit eBillingHub.
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