Leading Canadian Law Firm Set Up for Success with eBillingHub
One of Canada’s foremost full-service business law firms, with over 500 lawyers nationally, has embraced eBillingHub®, the market-leading automated electronic billing solution from Elite. This innovative tool has enabled the firm’s billing team to operate more efficiently, provide greater visibility, and ultimately get paid faster. The firm offers a wide range of services, from corporate and competition work to advice on regulatory issues, digital assets, and French language law. Each practice group has unique nuances and client preferences when it comes to e-billing, which now accounts for around 30% of all the firm’s invoicing. As a senior manager in the billing team puts it, “eBillingHub sets us up for success.”
“Not only are we getting paid faster, we’re getting paid more money. That’s a double win right there.”Major ROI with eBillingHub Successful e-bill submissions are crucial; otherwise, invoices simply don’t get paid. Within the first three years of using eBillingHub, the firm’s rejection rates reduced markedly—falling by more than 90%, from an average of 2,500 rolling rejections monthly to just over 200. This significant reduction means the workload for the e-billing team to rectify rejections is much more manageable, ensuring bills are not stuck in the system. The firm’s e-billing manager highlights the importance of compliance with client guidelines, stating, “eBillingHub has allowed us to integrate all those different warnings before submission, making necessary adjustments to ensure successful invoice submissions.” Fewer rejections mean fewer delays and less push-back from clients regarding payments. The firm has reduced its average e-billing accounts receivable (AR) by 29%, and e-bills are getting paid on average 40 days faster. Additionally, the firm is seeing ten times fewer bills being written off. “Not only are we getting paid faster, we’re getting paid more money. That’s a double win right there,” says the senior manager. eBillingHub has shown a huge ROI, improving cash flow and reducing work and rejections for the billing team.
“eBillingHub has shown a huge ROI, and we’ve been reaping the benefits of improved cash flow and less work and fewer rejections for the billing team as well.”
