Legal billing software platform Aderant has launched new paperless billing capabilities for law firms.
These capabilities are part of the newest version of its flagship practice management software, Expert, used by most of the world’s biggest firms, Aderant announced in a Monday (Aug. 21) news release.
“In recent years, the legal industry has experienced a paradigm shift, with law firms transitioning en masse from traditional paper-based billing to paperless systems,” the release said. “Aderant’s Expert Paperless Billing is at the heart of this change, aiding law firms in their digital transformation journey.”
According to the release, the platform now allows firms to automate bill preparation and approval, eliminate manual data entry and process bills faster and with more accuracy.
“Our focus is clear: offering law firms a seamless journey from paper-based chaos to streamlined digital efficiency,” said Aderant’s Chief Executive Officer Chris Cartrett. “Central to our ethos is the belief that law partners should be empowered to work more efficiently, saving their precious time and expediting the billing cycle.”
The launch is happening at a moment when automation of accounts payable (AP) and accounts receivable (AR) processes still remains in its early stage, even though virtually all finance chiefs recognize the need to make a change.
Research by PYMNTS finds that a respective 33% and 28% reported having some automation to support their AR and AP workflow. Companies were more likely to have invested in digital technologies and automation in fraud and risk management.
The same research showed that 64% of CFOs saw a definite need for more automation for their AR processes, and 54% said the same about AP processes. The remaining CFOs said they probably need more automation, demonstrating a variation in the sense of urgency related to investing in these processes.
“CFOs have prioritized investments that automate fraud and risk management,” PYMNTS wrote earlier this month. “They credit those applications for the reduction of delays involving payment and invoice tracking.”
Meanwhile, the use of digital technologies and automation to support fraud and risk management is widespread, with 63% of CFOs reporting using some automation for fraud prevention in the prior six months. Seventy-one percent of CFOs said fraud and risk management automation helped them reduce days of delay and exceptions related to payments, and 95% said automation helped lower delays in invoice tracking.
Source: PYMNTS
