The first ever assessment of the value of e-Billing to law firms
Hyperion's eagerly anticipated TrendView™ Report presents the findings of our nearly year-long market survey project seeking to explore the value proposition of e-billing among law firm users and whether legal organizations are realizing the benefits advertised for e-billing.
Serving as an invaluable resource of insights and sentiments regarding one of the legal market’s most prevailing solution areas, the report seeks to examine e-billing technology from a vantage point that’s rarely addressed: are law firms sharing in the broad range of benefits widely marketed and ascribed in this uniquely legal solution market?
The survey results were surprising and compelling: although the investigation reveals e-billing technology to be widely employed by law firms, it also reveals an enormous opportunity gap to serve and address the unmet needs of an eager and enthusiastic law firm constituency.
This TrendViewTM report defines the dynamics and profiles typical of e-billing law firms, and seeks to assess the impact e-billing has on client satisfaction and process efficiency. Law firms surprised us with the tremendous values they ascribed to e-billing capabilities and the way these technologies help them build closer ties with their clients.
Some notable highlights from the report include:
- e-Billing client represents, on average, 35% of law firms’ overall client base
- The typical firm supports more than a dozen different e-billing systems
- long marketed to law firms as key value propositions, they generally don’t believe e-billing contributes to improved communications or visibility
- The majority of firms consider e-billing to be a competitive differentiator
- 71% of firms believe that e-billing helps drive future business
The report discusses law firm e-billing from every perspective, including average e-billing law firm profiles, law firm economic profiles, fast-pay discounts, client relationships, payment turnarounds, value sentiments, e-billing solutions and system satisfaction, e-billing fees, and support.
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