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More Than 550 Firms Worldwide Are Now Benefiting from the Market-leading E-billing Solution from Thomson Reuters
April 1, 2020
eBillingHub®, the pioneer and leading electronic billing solution from Thomson Reuters designed specifically for law firms, today announced another successful year with 4.9 million invoices processed globally in 2019. The total number of invoices processed since 2002 is now nearly 30 million, worth nearly $688 billion.
Last year, 32 additional law firms chose the market-leading solution to streamline the entire billing process and accelerate cash flow, bringing the total number of firms using eBillingHub to 551. As well as significantly reducing billing errors that can lead to rejections and write-offs, firms utilizing eBillingHub have accelerated their average time to payment by 21 days since 2010.
One key factor in the continued success of eBillingHub is its robust rules capability, known as Greenlight. It is based on the industry’s most robust database of corporate legal billing guidelines, containing more than 16,000 discrete billing rules from more than 7,000 corporate legal departments and performing more than 3 million automated checks each month. As a result, the auto-submit rejection rate now sits at 0.11, which is 35% better than the industry average.
82 of the Global 100 law firms and more than 75% of the Am Law 200 firms are now experiencing the benefits of powerful reporting and analytical tools available in eBillingHub, along with its ability to support 140 different corporate and vendor systems. It also can be fully integrated with all leading legal software solutions, including 3E® and ProLaw®.
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. eBillingHub delivers solutions to hundreds of clients, including more than 75% of the Am Law 200 firms and law firms of all sizes in North America, Europe, and Asia Pacific, helping them to reduce errors in the electronic billing process. eBillingHub is a strong supporter of key industry standards as a member of the LEDES Oversight Committee and ILTA. For more information, visit eBillingHub.