Last week, Accurate Legal Billing (ALB) launched its AI and cloud-based legal billing software, which is uniquely designed to provide better services to the law firms. This amazing platform is meant to offer help to law firms so that they can enhance their cash flow and billing process in a consistent way. For the legal services market of the United States the Legal Executive Institute has put a return of more than $435 billion and more interestingly the United States market has made the 46.6% of the legal service industry globally. Moreover, law firms are spending more than $200 million on an annual basis just to get the services of electronic billing and still by bill review vendors are making the average reduction of $26 billion nationally, which is approximately 6 percent.
It will reduce delayed payments
Accurate Legal Billing (ALB) is meant to minimize the likelihood of the delay or reduction of invoice payments by automating the process of billing. The law organizations which are using the Accurate Legal Billing (ALB) platform are getting a personalized access to web platform or mobile application which will help the timekeepers to keep the log of the daily activities of every minute and then utilize the pre-loaded codes of ABA to prepare the invoices and then convert them in the suitable formats, for example LEDES98BI, LEDES98B, XML 2.1, XML 2.0, Chubb or in any other standard formats for compilation which are required as per need at that time.
Accurate Legal Billing’s easy-to-understand interface can be utilized in an effective way with ease. Due to its simplicity of useful dashboards, the respective person can keep the entire record in a well-managed form. It contains a perfect billing system which will help the user to create a bill in an organized way by consuming various charging methods, for example, matter-specific fees, flat fees, hourly rates or contingency fees, etc. as required.
Regular invoice submission
Invoices will be submitted to ALB manually for the process of automatic validation in which the timekeeper errors, incorrect mathematical entries, and duplicate entries will be detected and corrected and the validation system will highlight the non-compliance errors to ensure that the invoices are compliant 100% according to the Service -level Agreement.
ALB has an intelligent system that will learn the newest information automatically so that the ALB can evolve as the business firm evolves. Any law firm may request a demo from ALB to see how its digital billing service can be of assistance.