AI Enables Legal Teams to Reduce Invoice Review Time and Amplify Productivity
MOUNTAIN VIEW, Calif., June 28, 2021 (GLOBE NEWSWIRE) — SimpleLegal, a modern legal operations software provider, today announced the availability of SimpleReview. The AI technology supports streamlined invoice review by analyzing, identifying, and highlighting billing errors. A hyper-focused invoice review process enables corporate legal teams to reinvest bandwidth into higher-impact work.
SimpleLegal’s AI models apply machine learning and natural language processing to understand the context of invoices and line items. The technology powering SimpleReview continuously learns with each data point it processes to reliably capture outside counsel billing guideline violations.
The scope of law firm work for corporate legal departments often results in outside counsel invoices that can span hundreds of pages and thousands of line items. Billing guidelines and human review help catch charges that lie outside of outside counsel guidelines. However, the volume of work and different descriptions of similar services can prove challenging, giving AI an opportunity to locate additional non-compliant charges.
“SimpleReview is an easy-to-use tool that’s been seamlessly integrated into our invoicing process. The AI-powered functionality accelerates review and frees up bandwidth for our busy counsel. We’ve quickly identified outside counsel billing violations that have yielded a significant amount of savings,” said Eric Ortman, Senior Director of Legal Operations at BeiGene, a global biotechnology company focused on developing and commercializing innovative medicines worldwide.
SimpleReview supports SimpleLegal’s long-standing approach to keeping things simple. “Our goal is to give attorneys the ability to conduct focused invoice review with a high degree of rigor,” said Mark Weidick, General Manager of SimpleLegal. “SimpleReview streamlines the tedious task of reviewing invoices and allows attorneys to be diligent without burning out.”
A Fundamental Data Advantage for SimpleReview
Founded in 2013, SimpleLegal is the recognized leader in e-Billing and matter management, which positions the company with millions of data points that encompass a wide range of different legal billing scenarios.
“Not all AI is created – or trained – the same. Insufficient training data results in less accuracy, more work, and lost savings for corporate legal departments. That’s not the case with SimpleReview. With more than $16 billion of historical invoice data, our AI model can experience the many intricacies of legal billing scenarios in the real world,” said Shri Iyer, Vice President of Products and Design for SimpleLegal.
A Commitment to Innovation
The year has been one of recognition and innovation for SimpleLegal. “We’ve added some fantastic talent to our product team in the past six months,” said Iyer, who was recently named to The Software Report’s list of Top 25 Software Product Executives of 2021. “The growth is part of our promise to drive continued value to our users and allows us to support new innovations like SimpleReview while enhancing our core product.”
In addition to launching its first AI-based legal invoice review feature, the company has won several awards. CIO Review named SimpleLegal one of the 20 Most Promising Legal Tech Solution Providers of 2021, and Mirror Reviews included SimpleLegal in its “Top 10 Innovative Companies” list.
How to Learn More
SimpleLegal provides a modern legal operations management platform that streamlines the way corporate legal departments manage their matters, track and interpret spend, and collaborate with vendors and law firms. SimpleLegal combines e-Billing and spend management, matter management, vendor management, and reporting and analytics into one comprehensive application to optimize legal operations and the management of the entire legal department. The company, founded in 2013, is privately held and located in Mountain View, California. For more information, visit www.simplelegal.com.
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