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Revealed Aug 28, 2024 • 2 minute learn
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Finish-to-end billing resolution streamlines time entry, invoicing, expense reporting, pre-billing, assortment, and OCG necessities
NEW YORK, Aug. 28, 2024 (GLOBE NEWSWIRE) — Epiq, a worldwide technology-enabled chief to the authorized business and firms, introduced at present expanded Epiq Billing Companies – the premier, dependable, safe resolution for streamlining authorized billing to assist legislation companies stabilize money circulation, cut back prices, and enhance total effectivity.
“The typical legislation agency experiences an 18 % realization loss as a result of billing challenges,” mentioned Michelle Connolly, Senior Vice President of Epiq’s World Enterprise Transformation Options enterprise. “Because of this practically one-fifth of billable work just isn’t transformed into income, negatively impacting a agency’s profitability. Much more, over 80 % of legislation companies report having points with a good portion of invoices remaining unpaid or delayed, creating actual money circulation challenges. These issues – coupled with useful resource constraints and the necessity for steady coaching – spotlight the significance of streamlining billing operations.”
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Epiq’s World Enterprise Transformation Options enterprise developed complete billing options to assist legislation companies remedy challenges in amassing billable hours whereas enhancing productiveness and making certain compliance with complicated billing pointers. Leveraging subject material specialists well-versed in widespread legislation agency functions and supported expertise processes, together with AI, the service supplies sooner turnaround occasions, faster bill technology, and improved money circulation for legislation companies.
“Our billing help providers are capable of streamline compliance with each inside and exterior pointers, decreasing guide errors and dashing up the pre-bill overview course of,” Connolly mentioned. “This permits companies to maximise realization charges, bill sooner, and cut back errors and prolonged appeals – in the end resulting in improved effectivity and profitability.”
Epiq Billing Companies is Epiq’s proprietary billing resolution the place shoppers can count on to expedite:
- Time entry
- Invoicing
- Expense reporting
- Pre-billing
- Assortment
- Outdoors Counsel Pointers (OCG) billing course of
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“Our professional groups conduct an intensive overview of every consumer’s pointers to grasp particular billing necessities and be sure that all billing entries adhere to them, together with charges, timekeeping, and expense insurance policies,” Connolly mentioned. “Meticulous information, which complement common billing statements, are offered for audit and compliance functions. That is simply one other instance of how operational excellence is the muse of our group’s method to service supply. Throughout our work, we proudly see ourselves because the heartbeat of our shoppers’ operations, delivering unwavering dedication and distinctive worth.”
Epiq’s group routinely works with the highest legislation companies on this planet to supply technical experience and greatest practices to allow them to concentrate on core competencies and extra strategic actions. By outsourcing enterprise transformation providers, equivalent to billing, advertising and marketing, administrative help, workplace providers, and information and knowledge governance, legislation companies are capable of enhance effectivity, enhance cost-effectiveness, centralize processes, add scalability, and standardize outputs.
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About Epiq
Epiq, a worldwide technology-enabled providers chief to the authorized business and firms, takes on large-scale, more and more complicated duties for company counsel, legislation companies, and enterprise professionals with effectivity, readability, and confidence. Shoppers depend on Epiq to streamline the administration of enterprise operations, class motion, and mass tort, court docket reporting, eDiscovery, regulatory, compliance, restructuring, and chapter issues. Epiq subject-matter specialists and applied sciences create effectivity via experience and ship confidence to high-performing shoppers world wide. Study extra at www.epiqglobal.com.
Press Contact
Carrie Trent
Epiq, Director of Communications and Public Relations
Carrie.Trent@epiqglobal.com
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