How does SIB Compliment Legal E-Billing Software?
SIB Legal Bill Review
E-billing software provides information about what you have already spent.
SIB provides negotiation to reduce your legal expenses before you pay.
E-billing software provides data analytics as a tool for in-house counsel to break down the metrics of legal bills.
SIB ensures that the amount of time is consistent with the work product. SIB reviews the attorney’s work product to ascertain whether the charges are justifiably more than the benchmark. For example, if the lawyer charged 30 hours for a motion for summary judgment, and the motion entailed a common issue of law that is well documented in the jurisdiction, 30 hours would exceed the value, although it might fall within the benchmark range. Conversely, if the lawyer charged 50 hours for a motion for summary judgment, but the motion entailed a novel or complicated question of law, 50 hours might be the true value, although it would fall outside of the benchmark range.
With e-billing software, the lawyer still controls the task code assigned to each time entry. Task codes can be adjusted by the law firm to fit the budget.
SIB ensures that each time entry is correctly classified within the budgeted category, not placed in a category that still has “room in the budget.” For example, if the budget has 30 hours for responding to discovery, but the opponent has not served written interrogatories, the lawyer may see the unused 15 hours in that category as a place to “park” over-budget time from another category. We make sure that the client benefits from the 15 hours saved in that category.
E-billing software matches tasks to budgeted phases of representation and keeps the client informed on the status of representation. E-billing software is a tool for in-house legal teams to analyze their legal spend.
SIB is a service that uncovers incorrect charges in individual attorney-time entries, resulting in tangible reductions to legal expenses. And we waive our fee if we don’t achieve enough reduction to pay our fee from the original invoice amounts. So SIB’s service represents zero net cost to the client and is completely risk-free.