AmLaw 100 Firm

Optimizes billing and collections cycle to improve the bottom line

Results overview

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62.5% reduction in
DSO days

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Reduced average monthly AR
from $32M to $1.5M

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Shortened billing process from
45+ days to 11 days

The story

An AmLaw 100 firm with more than 600 attorneys across 14 offices known for its unwavering commitment to its clients. The firm needed to transform its billing and collections process to support growth targets and improve revenue.

The challenge

The firm was challenged with delays in billing and collections for one of its largest clients, a leading financial institution spending US$35M per year with the firm. The finance department was inadequately staffed and skilled to support the current workload, even with additional temp resources brought in each month to help with invoicing. Inefficient processes led to 50% of the invoices being rejected by the client’s e-billing system, which resulted in significant delays of more than 80 days in Days Sales Outstanding (DSO).

Our solution

After our due diligence and a comprehensive audit of the firm’s billing process, we recommended that billing support services be provided at our onshore delivery center in Wheeling, WV, where we streamlined and optimized the process with a skilled team to address issues such as outside counsel guideline compliance and rebills. We also developed a quality control system, where our team reviewed proformas before being forwarded to the attorneys, eliminating unnecessary back-and-forth discussions between the firm and their client’s billing department.

Relevant Services

How we help

  • Manage outside counsel guidelines, e-billing and collections

    Delivering effective billing processes that strengthen relationships and get you paid faster

  • Access scalable resources

    Meeting evolving resource needs through flexible service models

  • Align skills of support staff

    Upskilling support teams to thrive in a digital-first era

Insights

Jun 28, 2022

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