Elite is the leading global provider of an end-to-end enterprise business management solution, which allows law firms and professional services organizations to run all operational aspects of their firms, including business development, risk management, client and matter management, and financial management. For more information, visit Elite.
Annual Totals Shatter Records for the Leader in Legal e-billing
Mar. 8, 2016
eBillingHub®, the leader in legal e-billing, today announced the record-breaking statistics it achieved in 2015, processing more than 3 million invoices valued at a total that exceeds $36 billion. This marks a 37 percent increase in revenue billed and an 18 percent year-over-year increase in invoices submitted when compared to 2014. The first application designed specifically to automate solutions for the law firm e-billing process, eBillingHub has been delivering solutions to hundreds of law firms since 2004 and is the established leader in simplifying the e-billing process for law firms worldwide.
“eBillingHub was right on target in reaching its projected annual total of 3.2 million invoices, but what is truly exceptional is the massive growth it acquired in revenue processed,” said Eric Ruud, managing director of Elite. “This validates that eBillingHub has a positive impact on firm revenue by helping clients better manage receivables, reduce write-downs, and dramatically improve cash flow.”
Nearly 400 firms use eBillingHub as their preferred electronic invoicing solution, including 70 of the 100 most profitable Am Law firms. By year’s end, close to 300 clients had submitted more than a 1,000 invoices using eBillingHub. Additionally, eBillingHub client-vendor integrations allowed for more than 10,000 invoices to be submitted to 17 different spend and matter management systems.
The significant year-over-year growth of eBillingHub is just one of many milestones achieved in 2015. In May, eBillingHub underscored its rapid growth by announcing it had processed its 10 millionth invoice, and it surpassed another record when it processed 300,000 invoices during the month of October. The most invoices ever to be submitted in a 24-hour period occurred in December with a total exceeding 20,000.
eBillingHub delivers solutions to hundreds of clients, including more than 70% of the Am Law 200 firms, as well as medium and large firms 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 Elite 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.