TimeSolv is the best cloud-based invoicing solution for the legal industry, offering such valuable invoicing benefits as: The continued growth of e-invoicing and e-document management systems is expected to lead to more efficient invoicing practices, which may limit the need for legal invoicing specialists. However, as law firms continue to grow, they are likely to hire more billing specialists to handle the increased workload. If you`re an independent legal billing specialist, Time Solv makes your job easier and more efficient, and even provides you with state-of-the-art security measures to protect your clients` information from cyber threats. If you are looking for a job at a law firm, learning TimeSolv can give you an edge over other candidates. Click here to learn more about TimeSolv and benefit from a free trial offer – and wish you a successful career in legal invoicing. The steps to get your foot in the door of the legal billing specialist depend on the entry route you choose. If you`re interested in working at a law firm, you need to start with a solid resume. An effective resume for legal invoicing specialists will showcase your accounting and business experience. It also shows the skills needed in this industry. The main qualifications for the profession of legal billing coordinator are a degree in accounting and several years of billing experience in a law firm.

Some people who want to become billing coordinators start by working as an accountant or assistant for a large company in order to gain experience before taking on this position. This is a higher position that requires significantly more expertise. Industry certifications are extremely important, and CPA designations can help you get noticed. Performing the responsibilities and duties of a legal billing coordinator requires research skills, mathematical skills, attention to detail, and knowledge of standard office software. To resolve an electronic invoice rejection, a company must first identify the problem and then resubmit an invoice. Both activities take time, which translates into money. A large law firm in the Midwest, for example, found that its lawyers spent an average of three hours a month on such bills. The hypothetical Our Law is a little more competent, as its lawyers spend only two hours a month straightening out the 90 rejected electronic invoices. However, those two hours still cost Our Law $600 per month of billable time per lawyer, plus a little extra time to resolve these billing issues. All this time equates to $35,550 per month, or $426,600 per year. While many mixed-mode billers are able to process both paper and electronic invoices, workload sharing and context switching can reduce productivity by up to 40%.

Take the example of the hidden costs of using legal secretaries to make electronic invoices. With a ratio of 5:1 attorneys to legal secretaries, which is pretty much the norm for law firms, 10 legal secretaries must spend at least 4 hours per week on e-invoicing. At an average of just under $27.00 per hour per secretary, these hours translate into a total cost of $55,260 per year, 10% more than the cost of a dedicated e-biller. Although legal secretaries are more familiar with customer billing policies than a dedicated electronic invoice issuer, they are less familiar with different supplier locations and requirements, resulting in inefficiencies in filing and tracking. In this scenario, the e-facturator is responsible for supporting these various updates and case management submissions. However, the e-biller is already working full-time on e-invoicing activities, so this additional task may require an additional six hours. While this is not a big investment, it is another task entrusted to an electronic invoice issuer that has already reached its limits, which can impact the overall productivity of the invoice issuer. This extra six hours represents $1,200 per year in hidden costs. A single dedicated e-bill also carries risks: holidays or other holidays can have a direct impact on the company`s responsibility and lead to delays and write-offs, which can lead to increased costs. Many legal accounting specialists start their careers as legal secretaries or administrative assistants.

With experience, they can be promoted to more important positions, such as paralegal or office manager. Some legal settlement specialists may eventually open their own law firms. Legal settlement specialists can take advantage of this trend by becoming value-based invoicing experts. This allows them to help their clients make the most of their legal fees while ensuring that the lawyers they work with are fairly compensated. You may also be interested in what to look for in legal invoicing software? This will give you a clear understanding of how to increase productivity with an effective accounting and invoicing solution. Once your business knows what they`re dealing with, they can decide where to start to cut some of these costs. Possible solutions could include (1) centralization of e-invoicing activities, (2) implementation of a unified e-invoicing solution, and (3) validation against billing policies.