Saving time is what it’s all about. Saving time for both parties hopefully, the sender and the recipient. Of course this applies to all integration efforts – not the least of these is invoicing. When it comes down to it the invoice is data moving from the vendor to the client. As much of the manual handling that can be removed from this repetitive process the better.
The most notable effort in this regard, for the legal services arena, was the introduction of the LEDES data format in the mid-1990s. This collaborative effort, led by national legal associations, created a single electronic billing standard. This allowed vendors and clients to speak the same language when it came to invoicing. RecordTrak has been generating invoices using LEDES for many year, for multiple clients. This approach is not for everyone, in fact we see it most with clients who utilize a third-party ebilling service provider.
But invoice efficiency doesn’t end there. Clients can have unique data needs, from the inclusion of their own matter and claim numbers to the invoice granularity they require. RecordTrak has developed several importable CSV and text formatted invoices to answer the call. Secure email and TLS have aided the interaction with clients utilizing an image-based accounts payable process. RecordTrak invoices can be automatically emailed daily with each invoice as a separate PDF.
We are all looking for efficiencies. They certainly come in different sizes and with different degrees of difficulty to implement. Many are internal to our own operations. While others require vendor and client to be on the same page. Don’t overlook those in the invoicing area. The repetition of this process often makes it a great candidate for some level of integration that can benefit all parties.