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$73.5 Billion was Invoiced Last Year Through the Market-leading Electronic Billing Solution
Feb. 12, 2019
eBillingHub®, the pioneer and leading electronic billing solution from Thomson Reuters designed specifically for law firms, today announced a successful 2018. Last year, a record 4.7 million invoices were processed globally. In addition, eBillingHub users have enjoyed a 20-day payment improvement per invoice time since 2014.
82 of the Global 100 law firms and 75% of Am Law 200 firms now use eBillingHub, which supports billing in 20 different currencies, 109 different vendor systems, and a number of key industry standards as a member of the LEDES Oversight Committee and ILTA. The global solution offers a reports dashboard which provides access to more than 30 billing, management, and activity reports.
In 2018, 32 additional law firms chose eBillingHub to accelerate their cash flow and streamline the entire billing process, bringing the total number of firms using eBillingHub to more than 500. Nearly 3 million days of cash flow delay were saved by eBillingHub law firms for the year. The UK has also seen significant growth, with a 29% year-over-year increase in the number of invoices processed, while the overall volume of EMEA invoices broke 100,000 for the first time.
“2018 was another incredibly strong year for eBillingHub,” said Elisabet Hardy, vice president, financial & practice management solutions at Thomson Reuters. “More and more law firms around the globe are realizing that they can utilize this pioneering solution to overhaul their billing process and deliver key cash flow insights, significantly increasing their invoice volume while reducing the time and average days to pay.”
eBillingHub delivers solutions to hundreds of clients, including 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.