In our previous blog-post, we discussed how automatically approving invoices is the most mature level of a legal department’s automation journey. Now we’re going to answer the question: what if there was a way to eliminate manual invoice review entirely under the right conditions so your lawyers wouldn’t have to look at the invoices at all?
Presenting Brightflag’s Auto-Invoice Processing Functionality:
What does it mean for your automation journey?
If you’re looking for ways to gradually mature your automation process, this is the solution for you. Our auto-invoice processing is the natural extension of our existing A.I.-powered invoice review process. It allows you to set specific rules for when you want to automatically approve your invoices, essentially eliminating the time-consuming process of manual review altogether.
If you’re wondering what criteria should be applied to automate invoice approvals, we’ve outlined some instances below.
Examples of conditions you can include in your rules-based workflow:
- Amount threshold: For example, you may want to automatically approve an invoice that contains no legal billing guideline breaches and is below a certain amount, such as $500.
- The inclusion or absence of flags: For example, if there are no flags detected by the system, you can auto-approve it.
- Multiple criteria, such as department, entity, or vendor: For example, you may want to automatically approve invoices submitted by a particular law firm for particular types of matters.
- Practice area, such as Real Estate, Insurance, or Intellectual Property: These practice areas often generate high-volume and low-value invoices which you may want to auto-approve.
What are the benefits of utilizing auto-invoice processing?
- You can completely remove human intervention when reviewing invoices without compromising accuracy. In fact, human error is effectively eliminated, ultimately increasing the level of accuracy.
- Your legal team and your law firms will save even more time, especially if they have a high volume of invoices to submit, review, and approve.
- Your law firms can resolve any issues with your invoices sooner.
- You’ll have the ability to make quick and streamlined payments to your law firms.
The aim of this feature is to give you the option to build up to a gradually increased automated process as part of your ongoing maturity journey. While you don’t need to immediately automate 100% of your tasks, you may want to start off with a lower percentage, such as 40%, of your invoices auto-approved.
Our customers are already realizing the benefits. One of Australia’s largest insurers has already deployed this feature, fully automating the approval of 54% of their invoices, with the ultimate goal of automating 75%.