LMS+ Task / Electronic Billing System

Task-based budgeting and billing is rapidly becoming an industry requirement, as many large corporations or insurance carriers are demanding increased accountability from outside counsel firms.  Insurance companies have set standards for repetitive types of legal cases, i.e. automobile accidents, slip and fall, etc.  How much time should be allowed for discovery, reading a letter, or completing a deposition?

Task-based time recording requires the timekeeper to enter time by task / activity code so that the various elements of the case can be measured by category and compared against national standards.  Task-based time recording has now become an important requirement for many firms.

Task-based budgeting and billing also allows the firm to offer its clients improved reporting on work performed.  Budgets can be established with the clients at the initiation of a new case, and invoices can detail or summarize the time and fees allocated to each of the various categories on a matter.

The LMS+ System is especially functional in bill formatting, allowing task-based summaries to be printed on the invoice.  The Bill Wizard capabilities that are built into the billing software allow task bills to be easily re-formatted to fit the most stringent requirements of a client.

Electronic Billing

One of the biggest challenges facing law firms today is electronic billing.  Many law firm clients are not only requesting Task-based billing, but also electronic billing.  Compounding this challenge is the fact that each client also has different requirements that must be met, which creates administrative burdens on firm management and accounting.

The LMS+ Electronic Billing Interface (EBI) is incorporated into the +firm Billing Software.  It allows for customized electronic invoice formats to meet a law firm’s client's requirements.  The firm may chose to set up as many formats as needed and has the ability to make changes to the formats when required.  EBI provides the ability to deliver invoices in virtually any standard electronic format, meeting both current and future requirements.

• Industry standard formats (LEDES98B/2000)

• User defined electronic file formats

• LMS+ database integration

• Task/Activity billing and cross-referencing

• Supports multiple output file types