Elite, a provider of financial management and business operations solutions to law firms, announced the launch of Elite Validate, a “purpose-built” billing compliance solution – powered by AI – that will transform and optimize how law firms manage adherence to Outside Counsel Guidelines (OCGs).
Elite Validate is an AI solution designed to “streamline and automate key business management operations, while delivering real-time intelligence.”
Adopting AI-enabled tools and capabilities is a priority for law firms as they continue to manage workloads and “explore 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.”
Elisabet Hardy, Chief Product Officer at Elite said:
“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. 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 by rapidly reading and understanding OCGs and other guideline documents and turns 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.
- 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.
- 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 electronic billing solution designed specifically for law firms, and integrates “across Elite’s other solutions including 3E Time, 3E Proforma and 3E Billing.”
It is compatible with other third-party time-entry, billing and financial management applications, and is the OCG solution that is “compatible with many leading small- and mid-market financial solutions.”
Since its founding, Elite says that it has transformed law firms with innovative technologies that are at the center of their success.
Today, Elite is tech company that continues to focus on developing digital financial solutions that drive success for law firms.