Bellefield Systems, the providers of the fastest path to revenue through its time entry and compliance solutions, announce the launch of the 1st Annual Law Firm Leader Survey on Outside Counsel Guidelines, the first-ever survey designed to measure the impact of Outside Counsel Guidelines (OCG), e-billing and billing compliance on law firms. The survey will bring much needed data to help firms―and legal departments―understand the scope of the challenge OCG compliance presents, as well as provide the foundation for better business decisions. The Association of Legal Administrators (ALA), recognizing the value of the data, has partnered with Bellefield to further increase awareness and participation. To learn more and participate: http://go.bellefield.com/annual-law-firm-leader-survey-on-outside-counsel-guidelines-2019.
The timecard is the most critical point of interaction between the firm and client as it is the communication delivery of value. The increasing use by clients of Outside Counsel Guidelines, however, complicated this foundational interaction to the point where, today, compliance with client billing guidelines is one of the most notable challenges in the legal industry.
Specifically, manual processes for identifying non-compliant invoices are inefficient and subject to human error, which leads to rejections, write-offs and payment delays, therefore effecting top-line revenue. By the close of 2018, firms were finding compliance with OCG so challenging and complex, that non-compliance was regarded as a cost of doing business, causing firms to lose up to $15,000 per day. This situation is not tenable.
As the industry leader, building trust and achieving 100% invoice acceptance is the mandate of Bellefield, a mandate that has catapulted the company’s 900% growth, including 1,000 customers worldwide, helped gain status as the No. 1 adopted timekeeping solution for the past 6 consecutive years, and earned a 2019 Distinguished Peer Nomination from ILTA for Business Partner of the Year.
The Annual Law Firm Leader Survey on Outside Counsel Guidelines will focus on gathering data to:
• Illuminate firms’ top compliance challenges
• Quantify OCG and e-billing volume, track increase or decrease overtime
• Understand law firm process to review and implement OCGs
• Quantify number of law firms by practice area subject to OCG and billing guidelines
• Determine level of compliance across all law firm sizes
• Determine how law firms ensure they are following the guidelines
• Understand partner/lawyer involvement
• Quantify percentage of rejections, reductions, appeals and write-offs
• Determine top reasons for rejections and appeals
Isturiz comments: “We are thrilled to lead this initiative and survey the impact Outside Counsel Guidelines are having on law firms. Outside Counsel Guidelines are a successful tool for legal department professionals, and we want to help law firms understand the landscape of OCG and billing compliance to not only make better decisions, but also build better relationships with their clients.”
Oliver Yandle, Executive Director for the Association of Legal Administrators, adds, “ALA appreciates the opportunity to partner on this survey with Bellefield. One of our Association’s strategic goals is to enhance thought leadership for the legal management industry and deliver research-based content that helps our members gain key insights into what’s happening in the legal space. We look forward to sharing the results.”
Bellefield is exhibiting at ILTACON August 19-22 at booth #409. To learn more about the Annual Law Firm Leader Survey on Outside Counsel Guidelines and participate: http://go.bellefield.com/annual-law-firm-leader-survey-on-outside-counsel-guidelines-2019.
About Bellefield Systems & iTimekeep
Bellefield provides the fastest path to revenue by removing barriers to time entry for attorneys and law firms. Through the iTimekeep platform, Bellefield brings better timekeeping to any law firm or professional services firm by increasing attorney engagement, providing real-time compliance with outside counsel guidelines and enabling firms to manage their time entry policies. In an area that was long disregarded and accepted as a “cost of doing business,” Bellefield’s innovations are bringing about efficiencies that allow firms to achieve the best timecard inventory, leading to less rejections, increased compliance and maximum client satisfaction.
About the Association of Legal Administrators (ALA)
ALA is focused on the delivery of cutting-edge management and leadership products and services to the global legal community. It identifies and provides solutions to the most critical strategic and operational challenges its members and customers face today and prepares them for the opportunities and challenges of tomorrow. For more information on ALA, visit alanet.org.
Patricia Ann Nagy, Director