Hard to believe, but the evolution of the LEDES XML formats started 10 years ago.
So after all these years, how many time and billing vendors can generate these formats accurately? None.
How many e-billing vendors accept these formats? Does it even matter if the law firms can’t even produce these file formats?
The cold, hard truth is that time and billing vendors are not interested in helping their clients (i.e., Law Firms) produce invoice files beyond the LEDES 1998B and BI formats.
- Philosophy of Time and Billing vendors:
- Time and billing systems are vehicles for revenue generation
- E-Billing decreases law firms’ revenue capture rate, countering law firm revenue goals
- Therefore, they will not add features to their product that counter their value proposition.
In retrospect, doesn’t that make sense?
Okay, so here’s what we have to do to make global e-billing happen:
- E-Billing clients (i.e., corporate law departments) have to demand “Global E-Billing” of their E-Billing vendors and their outside counsel firms.
- E-Billing Vendors (i.e., Bridgeway, CT TyMetrix, Datacert, Mitratech, etc.) need to provide global e-billing solutions for their clients, as well as for their clients’ outside counsel firms. Yes, they need to provide a comprehensive solution to make global e-billing happen.
Go Global E-Billing!!
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