Elite Validate uses AI to automate compliance reviews of Outside Counsel Guidelines, reducing billing rejections and speeding up payments for law firms
NEW YORK–BUSINESS WIRE–
Elite, a leading provider of financial management and business operations solutions to the world’s most successful law firms, today announced the launch of Elite Validate, a new purpose-built billing compliance solution – powered by artificial intelligence (AI) – that will transform and optimize how law firms manage adherence to Outside Counsel Guidelines (OCGs). Elite Validate is the first in a new line of AI solutions designed to significantly streamline and automate key business management operations, while delivering real-time intelligence.
Adopting AI-enabled tools and capabilities is a growing priority for law firms as they continue to manage ever-increasing workloads and explore new ways to maximize productivity and drive large-scale digital transformation. Elite Validate uses AI to turn OCG compliance reviews – a critical but time-consuming and error-prone process – into an opportunity for greater efficiency and profitability.
“We are leading the charge for law firms when it comes to seamlessly harnessing the power of AI to solve our customers’ problems and propel their businesses forward,” said Elisabet Hardy, Chief Product Officer at Elite. “Elite Validate is a robust new AI solution that operates in real-time and delivers tangible impact and value by making the OCG review process more efficient, so law firms can get paid faster. We are developing a deeply integrated approach to the application of AI across our product roadmap, and our goal is to combine Elite’s advanced technology with our deep industry expertise to give law firms a better way to work.”
Elite Validate streamlines the OCG compliance review process, automating and simplifying a traditionally lengthy and complex task to help law firms get paid faster. Key benefits of Elite Validate include its ability to:
- Automatically create rules to rapidly read and understand OCGs and other guideline documents and turn them into accurate billing rules faster than any human can; automated alerts are also generated to instantly notify users within the firm of any deviations from the required guidelines at any point in the work-to-cash cycle.
- Vigilantly enforce rules once firms have accepted the created rules and apply them across different parts of the billing and review process to ensure compliance from start to finish.
- Continuously learn from the past, including learning from past historical rejections and reductions to then automatically create and enforce new billing rules that were not in the original guideline documents.
- Vastly improve efficiency and reduce frustration, freeing teams from tedious, error-ridden tasks and the need to decipher complex rejection reasons to fix billing errors, ultimately saving time and allowing firms to get paid faster.
Elite Validate sits alongside eBillingHub®, Elite’s leading electronic billing solution designed specifically for law firms, and integrates seamlessly across Elite’s other solutions including 3E Time, 3E Proforma and 3E Billing. It is also compatible with many other third-party time-entry, billing and financial management applications, and is the only OCG solution available that is also compatible with many leading small- and mid-market financial solutions.
“Elite Validate promises to be a gamechanger in OCG compliance for law firms,” added Hardy. “It represents the first widely available OCG compliance solution that not only seamlessly automates the process but continually learns from historical data, past invoice rejections and client preferences to adapt and prevent future problems. We have built a new AI solution that is constantly learning and refining, creating and enforcing new validation rules in real-time and proactively reducing the number of rejections and reductions, resulting in faster payments.”
