To Help Ensure Billing Guideline Compliance and Cost Management
Wolters Kluwer’s ELM Solutions, the global market leader in transformational, technology-based solutions for legal management, today launches LegalVIEW® BillAnalyzer to help corporate legal departments and insurance claims organizations of all sizes more efficiently manage their incoming legal invoices and improve cost management.
The LegalVIEW BillAnalyzer service manages the entire invoicing review process through a combination of advanced technology, machine learning and expertise to ensure outside firm compliance with billing guidelines, while offering clients an average cost savings of 6 to 9 percent in legal fees.
The LegalVIEW BillAnalyzer offering provides:
- Consistency and accuracy across all invoices plus continuous improvement through the use of supervised machine learning and natural language processing. LegalVIEW BillAnalyzer codifies hundreds of pages of legal service agreements and analyzes millions of lines of invoices, looking for hidden patterns to flag potential violations. With machine learning, self-learning models are built and regularly improved and enhanced using a combination of input from ELM Solutions’ proprietary LegalVIEW® database, the client’s billing history and guidelines and input from a team of expert bill reviewers.
- Detailed, expert driven invoice review for billing guideline compliance and reduced complexity. Experienced, highly trained legal professionals based in the U.S. perform reviews of invoices down to the line-item to pinpoint adjustments and compliance issues, and if necessary, rectify disputes via the appeals process.