ASK BOTTOMLINE

"Ask Bottomline" is a newsletter series that covers important legal spend management topics. As new issues are released, they will be posted below. If you are interested in receiving this newsletter, click here.

Issue #8
Q: We’ve been using electronic billing for years, but still receive too many paper invoices. Is there any way to include paper invoices in my legal spend management solution?
A: Advanced legal spend management solutions boost efficiency by automatically routing invoices to the proper recipient, flagging noncompliant line items, and eliminating manual data entry and the mistakes that come with it. In addition, electronic data allows for sophisticated reporting and analysis in order to better plan for the future. Even companies that mandate that their firms participate in electronic invoicing find, however, that they continue to receive paper invoices. Why? Some law firms are reluctant to participate, and find reasons to continue sending paper bills. In addition, ancillary vendors that provide litigation support are often unable to produce electronic invoices. As a result, companies report that it’s not unusual for 20% or even 30% of their total legal spend to continue to arrive via paper. more »

Issue #7
Q: What is SAS 70 and why is it important that my legal spend management solution have been through a SAS 70 Audit?
A: An internationally accepted auditing standard developed by the American Institute of Certified Public Accountants (AICPA), SAS 70 audits serve as a comprehensive evaluation of the business processes surrounding the hosting and processing of data. For organizations leveraging a hosted application, a SAS 70 audit report provides a measure of confidence that the processes and practices running behind the scenes ensure operational integrity. Many technology providers host applications in SAS 70 audited datacenters but what about the solutions themselves? From a business perspective there is greater value in leveraging a solution that is itself SAS 70 audited. more »

Issue #6
Q: What effect can intelligent staffing have on case handling strategy and cost? How can case managers play a more strategic role in these decisions?
A: Staffing matters requires intelligent decision making on who should be working the case from start to finish. Because it's a cost driver, proper staffing is critical to case strategy and cost. Determining who should perform each activity, however, can be figured out though a relatively easy process. more »

Issue #5
Q: What are some best practices for claims adjusters and staff attorneys to follow when reviewing a legal invoice?
A: Concerned that modifying invoices may negatively impact the relationships they've established with their law firms, adjusters and staff attorneys rarely look forward to reviewing legal invoices. Although some may see it as such, bill review is not just about managing costs; it's one of the many important tools available for managing a case to an efficient resolution. It also helps to facilitate critical, ongoing communication between the client and firm. more »

Issue #4
Q: What is the value of UTBMS codes in legal spend management?
A: The Uniform Task-Based Management System (UTBMS) is a comprehensive budgeting and billing classification system designed to provide clients and law firms with meaningful cost information on legal services. The value in using the codes couldn't be simpler - it normalizes data useful in planning, monitoring and analyzing legal costs. more »

Issue #3
Q: Is budgeting really going to help improve my case outcomes?
A: Budgeting may appear to be more of a hassle than a benefit - especially since your firms may resist at first. However, once the process is established, you will enjoy many long-term benefits, such as getting the best value for your legal dollar. more »

Issue #2
Q: What are some key things to consider in preparation for a successful a legal spend management system implementation?
A: Question the status quo. Is your current invoice approval process working? Are billing guidelines being adhered to? Have they been reviewed in the past 24 months? If not, now's the time to understand and revisit your best practices to ensure that your business goals are being achieved. more »

Issue #1
Q: How do you include collaboration as part of a successful legal spend management program?
A: Collaboration is a process where two or more people work together toward a common goal. This is usually accomplished through sharing knowledge, learning and building consensus. In the legal spend management world, we see matter resolution as the common goal and collaboration as a way to prepare for decisions related to legal strategy. more »