What is LEDES?
The Legal Electronic Data Exchange Standard is a file format specification intended to standardize bill/invoice data transmitted electronically ("e-billed") from a law firm to a corporate client. It is abbreviated LEDES and is usually pronounced as "leeds". LEDES 1998B is by far the most common standard used by law firms and large insurance companies and Fortune 500 companies.
LEDES was developed by the LEDES Oversight Committee (LOC), which was formed by the PricewaterhouseCoopers Law Firm and Law Department Services Group. Members of the committee include law firms, corporate legal departments, electronic billing vendors and time and billing software vendors. (Reference: Wikipedia.org)
For additional information, please go to www.ledes.org.
What is UTBMS?
The Uniform Task-Based Management System (UTBMS) is a set of codes designed to standardize categorization and facilitate analysis of legal work and expenses. UTBMS was produced through a collaborative effort among the American Bar Association Section of Litigation, the American Corporate Counsel Association, and a group of major corporate clients and law firms coordinated and supported by Price Waterhouse LLP (now PricewaterhouseCoopers).
Fees charged for attorney and legal assistant times are categorized with Task and Activity codes. For additional information, please go to www.utbms.com.
Benefits of LEDES and UTBMS
The primary benefit of electronic billing is standardizing data exchange of billing information. Both the format and task/activity codes are standardized for the legal industry.
Why TimeSolv for Electronic Billing?
TimeSolv has over 10 years of experience with LEDES billing. In addition, TimeSolv staff offers extensive knowledge and direct hands-on experience with electronic billing. E-Billing sites, corporations, and insurance companies that we have experience with, but are not limited to, include:
Electronic Billing (E-Billing) Sites
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- Data Cert / Share Doc Quick Invoice
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Insurance Companies and Corporations
Outsourced Legal Billing – OLB
In addition to compatibility with LEDES, TimeSolv offers Outsourced Legal Billing. Clients utilizing this service have a Personal Account Representative within TimeSolv that performs as a 3rd-Party biller on their behalf.
Please contact us so we can assist you with your electronic billing needs and questions.
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