Onit, Inc., a leading provider of enterprise workflow and artificial intelligence platforms and solutions, including enterprise legal management, contract lifecycle management and business process automation, today announced that it has entered into a strategic alliance with Sterling Analytics, the premier bill review service in the United States, to offer third-party legal invoice review for corporate legal departments of all sizes.
With this partnership, Onit’s Fortune 500 customers and prospects can strengthen and augment their invoice review with an attorney-based consultancy that evaluates more than $2 billion in legal spend annually.
Technology, including billing rules and artificial intelligence, has made tremendous strides in identifying potentially noncompliant charges. However, there will always be gray areas that need additional review. Corporate legal departments, often tasked to do more with fewer resources, can now outsource that review to experts in the field.
“We’re offering the one-two punch with this alliance,” said Matt DenOuden, Senior Vice President of Global Sales for Onit. “Interest in third-party bill review has surged as organizations have seen their savings double. Sterling’s third-party bill review complements Onit’s technology, creating a partnership that allows us to continue to honor corporate legal departments’ relationships with their law firms.”
“In-house teams should focus on legal issues, not legal invoices,” commented Marci Waterman, President of Sterling Analytics. “We’re excited to join Onit in this alliance and help their customers realize greater insight into spend and increased productivity and efficiency.”
Current legal invoice review solutions overwhelm users with notifications and force them to spend too much effort chasing corrections while at the same time failing to give them insight into overall spend trends and vendor performance. Sterling’s legal spend expertise and analytics complement the AI and billing rules from Onit’s Enterprise Legal Management solution to remove the common problems associated with legal invoice review.
Onit’s strategic alliance with Sterling Analytics balances the technological and human aspects of invoice review. Onit’s invoice review technologies catch many of the most common invoicing errors, while Sterling excels at invoice questions that are much more complicated. Together, they answer not only fact-based questions, such as catching calculation errors and compliance with billing guidelines, but also gray areas that call for human review and judgment, such as whether certain charges were performed by the right level of legal professional or are reasonable.
The on-demand webinar “The Power of AI + Human Expertise in Managing Legal Spend” explores the benefits of combining technology and human review of legal invoices. Waterman, DenOuden and Jonathan S. Weber, Vice President, Claim Optimization Legal and Operations Lead for Chubb, discuss how this creates consistent enforcement of outside counsel guidelines, a better understanding of the work your law firms are doing, more time to focus on important work in-house and incredible savings.
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