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Innovative E-billing Solution Processed More than $57 Billion in Invoices Last Year
Aug. 20, 2018
eBillingHub®, the pioneer and leading electronic billing solution designed specifically for law firms, today announced its growth has continued globally throughout the first half of 2018. In the first half of 2018,16 firms have chosen the market-leading solution from Thomson Reuters, bringing the total number to more than 440.
Thus far in 2018, 2.43 million invoices have been processed, a 9% increase on the same time period in 2017, for 109 different vendor systems. In particular, the UK has seen 102% growth in the number of invoices processed year-on-year, while 47 firms are currently processing more than 100 invoices a day.
Supporting 10 different delivery formats, including all 6 LEDES standards—more than any other law firm e-billing system—eBillingHub provides extensive compatibility as a single solution to automate invoice submissions. The market-leader in e-billing streamlines the entire billing process with 38 auto-submission vendor integrations covering 92% of all electronic items, offering an easy-to-use web interface and centralized dashboard.
Currently, 84% of U.S. Am Law 100 firms and 75% of Am Law 200 firms have selected eBillingHub. Firms using eBillingHub see on average a 22-day reduction in payment cycle time, 2x greater biller productivity, and a 50% reduction in e-bill write-offs and write-downs.
“The range of improvements eBillingHub offers our clients helps simplify what was once a confusing and complex process,” said Eric Ruud, managing director at Thomson Reuters Elite. “We are delighted that our market-leading solution has helped so many firms achieve such consistent reductions in rejection rates, write-downs, and write-offs.”
eBillingHub delivers solutions to hundreds of clients, including more than 75% of the Am Law 200 firms, as well as firms of all sizes in North America, Europe, and Asia Pacific. eBillingHub is a strong supporter of key industry standards as a member of the LEDES Oversight Committee and ILTA. eBillingHub, part of the Thomson Reuters family of innovative solutions for professional services firms, provides a comprehensive and collaborative approach for preparing, submitting, tracking, and managing electronic invoices. For more information, visit eBillingHub.