Analysis of many firms’ accounts receivable has revealed that there are problems with eBilling that cause bills to be either: fully rejected, or rejected subject to deductions.
Many firms have a separate eBilling team who manage all aspects of this, from raising the bills to monitoring their status. Rejection, wholly, or in part, needs to be communicated to the collections team, so that cashflow forecasts and the granularity of targets can be adjusted. The easiest way to do this is to use CreditForce eBilling integration, which monitors e.g. eBilling Hub and Bill Blast automatically, and updates the latest status for each eBill, providing alerts as required for the finance team and wider business, as well as adjusting cashflow forecasts.
New functionality has been added to enable “agreed fee earner and fee earner rates” to be monitored. All eBilled matters are checked as time is being booked, and the eBilling team notified before bills are raised. This gives the opportunity for the “non-agreed fee earner and rates” to be agreed with the client, or corrected, rather than waiting until sent to the client and rejected.
To learn more about CreditForce eBilling and all the modules in our Collections Management suite, click here to arrange a demonstration.