1. Using matter and spend management features together gives you complete oversight of legal work and costs, and saves time through streamlined workflows and automation. Click here to continue.
2. AI Billing Guidelines Review is a component of LawVu's spend management. It analyses invoices against billing guidelines and approved timekeeper rates, automatically flagging real-time discrepancies, saving lots of valuable time.
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3. You'll only need to upload your billing guidelines and approved time keeper rates once against your legal service provider.
Click here to see how easy it is to set it up.
4. Click here to choose the firm you want to upload your billing guidelines and approved timekeeper rates to.
5. In this scenario, let's set it up for Croft Legal.
Click Croft Legal to continue.
6. From here, you can store the billing guidelines you would like to use for comparison and enforcement against invoices. Simply upload your billing guidelines and timekeeper rates, and you're done.
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7. Click attach file to upload your billing guidelines. AI will analyze your document, extract your rules and handle all the configuration for you. No need to spend all you time setting up and managing rules.
8. If you don’t already have a template, just download the LawVu billing guidelines template to ensure better accuracy in your reviews.
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9. The timekeeper rate feature lets you review and enforce timekeeper agreements. Simply upload your file with your agreed timekeepers and their rates – LawVu takes care of the rest.
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10. Now that your billing rules are in place. Let's look at the optimised workflow for when you start to receive invoices from your legal service providers.
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11. When an invoice batch is ready for approval, your designated approver receives a single notification like this via email and in-app. It contains key information such as the firm and total amount for payment.
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12. This is the LawVu inbox - your centralized workspace for all actions, whether they’re matters, contracts, or invoices. You can instantly see what invoices need attention, what’s compliant, and what’s not.
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13. Croft Legal has submitted a batch with a few flagged discrepancies.
Let's click here to review this invoice batch in greater detail.
14. Here is the summary of the invoices in this batch. In this batch, you can see each invoices associated matter, total for payment, AI-flagged discrepancies, adjustments and how each invoice is tracking against budget.
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15. The smart summary on the right also categorizes discrepancies for quick identification and allows approvers to accept or reject adjustments easily.
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16. You can reject a discrepancy category to add the value back to your total for payment, ensuring final decisions are always made with your approval. Rejected discrepancies are always captured in reporting.
Click here to see it in action
17. In this example, if a charge was initially flagged but you’ve agreed to pay it for a certain period, you can turn that rule off and see the total update instantly.
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18. You can also review invoices in detail if something needs further investigation.
Click here to quickly check line-item details and discrepancies without leaving your screen.
19. Here you can see the exact discrepancies, the adjustment made and a highlight of where the discrepancy was found on the invoice file. Similar to the batch view, discrepancies can be enabled or disabled for ultimate flexibility.
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20. For LEDES invoices, full line item editing is also available.
Click here to see how to edit line items on the invoice.
21. Discrepancies and their adjustments are automatically populated to save approvers time. You can add further adjustments, modify the AI-provided discrepancies, or remove it altogether.
In this scenario, click here to remove it.
22. Click here to save your changes.
23. Click here to go back to the batch view for further action.
24. To assist in bulk actions and optimizing workflows, approvers can decline and remove individual invoices from the batch.
Click here to decline this individual invoice
25. When you decline an invoice, LawVu automatically fills in a clear explanation for the firm - no need to draft a response. Edit it if needed, then send it off with one click.
Click here to decline this invoice
26. Once declined, that invoice is removed from the batch and your total payment updates automatically.
When you’re happy, you can approve the remaining invoices in one click, and LawVu sends a summary email to the law firm.
Click here to approve
27. Invoice batch review complete! At this stage, LawVu sends a summary email to the law firm notifying them of the invoice review outcome.
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28. Behind the scenes, LawVu securely captures all the data automatically, giving you out-of-the-box reporting dashboards that track compliance and spend in real time.
Click here
29. You can instantly see which firms follow your billing guidelines, how much you’ve spent, and how much you’ve saved by adjusting invoices. No manual information gathering or analysis required.
30. These insights make it easy to have proactive, data-driven conversations with law firms and finance.
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31. That's it. You're done! Please book a demo to get more information and answers to additional questions.
https://www.iorad.com/player/2638162/AI-powered-Billing-Guidelines-Review---self-guided-tour
Take a self-guided tour through Billing guidelines in the LawVu legal workspace.
