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Full Transactional Cost Recovery
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Each individual charge is recorded as it happens, be it a
search, document view, document download, etc. All charges are
associated with a client matter number, even for services without
client reference fields.
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Automated Processing, Eliminating Manual
Effort
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Charges are automatically sent to the billing or disbursement
system on a daily basis without manual processing required.
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Vendor Independent
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No longer reliant on vendor bills or data to implement the
firm's cost recovery strategy. This means effective cost recovery
even with vendors where this was previously infeasible.
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Timely Billing
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Charges are recorded in real-time and automatically processed
daily. No need to wait until the end of each month to process
charges.
Timely billing ensures matters are not closed before charges
reach them; increases the likelihood charges are actually billed
and reduces the total charges outstanding at any point.
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Flexible Rate Card
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Pass on vendor rates directly, or assign custom charges for each
type of activity. Simplify the complex charging structure of
vendors to make clients and researchers, understand what they are
charged for.
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Accurate Detailed Data
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RM Cost Recovery records to the most detailed level the activity
performed by researchers: running searches, narrowed searches,
document downloads, and more. This can be used to perform cost
analysis or respond to client queries on charges.
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Consistent Across Vendors
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A consolidated, consistent record is kept of all transactions.
Varied and inconsistent formats from each vendor become a thing of
the past, and a consolidated record means you can recharge
effectively even for services where multiple bills are
received.
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