Viewabill for Law Firms - Mitratech

Viewabill for Law Firms

Viewabill allows law firms to add a differentiating level of transparency to work in progress that enhances collaboration with inside counsel. By sharing work in progress on select matters, firms increase the ability to track, understand, and adjust entries in real time to improve accuracy and avoid disputes once the invoice is sent. This mutual insight fosters strong, long-lasting relationships between legal departments and your law firm, which in turn strengthens your firm’s rating with your clients. Importantly, this relationship and real time insight decreases the amount of time it takes for you firm to get paid and can increase your realization rates to 90%.

Viewabill for Law Firms

Law firms that use Viewabill include those looking to:

  • Be a strategic partner to their clients by permitting views of work in progress
  • Increase their invoice realization rates
  • Decrease the amount of time and negotiation needed for an invoice to be paid
  • Improve the process of providing budget updates

How Viewabill solved similar challenges for our clients

Your firm has worked diligently to provide your clients with the best possible outcomes. In today’s world, your corporate client is facing budget scrutiny and pressure to work like any other business unit. They need reliable information and data to put in a forecast – which will help them budget for more. You need to create a new normal about the delivery of legal services, not simply quality.

Your firm is also under pressure. Client value and legal sourcing teams are prominent in firms today; over 50% of the AmLaw 200 already employ a Pricing Director position to oversee project management. Stretched between serving as a resource for the firm’s clients while simultaneously balling internal resistance, law firms need to understand the business model of their clients.

“By highlighting that you’re assessing these [billing] items, it shows the culture of the firm is promoting administrative collaboration.” –Vincent Cordo, Director of Client Value, Reed Smith LLP.

How we help you set your firm apart

Over 140 law firms, including 30% of the AmLaw 200, are already using Viewabill to collaborate with their corporate clients as well as increasing visibility within the firm. When a matter closes, our corporate clients often rate their outside counsel on a number of evaluation factors, including outcome and cost. Recently, other factors have been added to better assess value beyond outcome and cost including knowledge management, document assembly, collaboration with inside counsel and technology utilization.

Mitratech wants to let attorneys be attorneys. By cutting out time that was wasted on manual processes, lagged time entry, and negotiating aged invoices, your firm will increase your value both internally and to your clients.

When your law firm uses Viewabill, value is created by:

  • Realizing 90% of invoiced rates (vs. industry standard of 83%)
  • Reducing unbilled inventory
  • Recognizing your firm as a market leader by your corporate clients
  • Enhancing operational efficiency by reducing the time spent managing updates and budgets
  • Practicing near contemporaneous time entry as the work being completed

The tools to help you thrive in challenging situations

Viewabill has proven to be the leading pre-bill visibility solution on the market by:

  • Providing real-time, web-based transparency into work-in-progress activity
  • Reducing the time spent creating, reviewing and scrubbing invoices
  • Streamlining the sharing of data with internal stakeholders across the firm and clients
  • Automating reporting, alerts, and notifications during the pre-bill cycle
  • Improving time hygiene