Aderant Introduces Onyx: Law Firms’ OCG Compliance Chaos is About to End

Global News

19
Apr
2023

Editor

Aderant, a prominent provider of management solutions for legal businesses, has declared its plan to launch a groundbreaking AI-powered solution called Onyx that aims to revolutionize Outside Counsel Guideline (OCG) compliance for law firms.

The launch will take place at Aderant's upcoming Global Momentum conference, which will be held in Denver, CO. In the past, law firms have relied on a combination of manual and semi-automated systems to handle OCGs and enforce their terms in timekeeping. However, this approach was inadequate when it came to billing and eBilling. With the advent of the revolutionary Onyx solution, Aderant will offer a fully automated and integrated system that ensures compliance across all stages of the timekeeping, billing, and eBilling processes.

“Law firms have been grappling with billing and compliance for far too long, and it's about time they had a solution that actually works. Aderant is proud to offer the first advanced AI platform that ensures compliance across the entire time and billing journey,” said Aderant President & CEO Chris Cartrett. “This helps law firms get paid without issues and put an end to the madness that has long weighed them down.” 

Onyx is designed to tackle the biggest challenges of complying with client guidelines: 

• Compliance: Onyx automatically detects risks and provides real-time guidance to ensure that time entries, expenses, bills, and eBills are always compliant with client guidelines. Violation reports help firms address issues where they arise. Onyx is the only solution that effectively addresses eBilling compliance challenges. Its sophisticated ‘closed loop’ system feeds back intelligence from the eBill vendor sites on adherence to rules, any hidden rules, and any guideline changes.
• Costs: Onyx drastically reduces costs of compliance. “Equipped with high-performing, pre-trained AI, Onyx delivers quick time-to-value and substantial cost savings for our clients,” said Aderant Chief Product Officer Doug Matthews. “Our AI promptly extracts terms from lengthy OCG documents and categorizes them for easy reference with minimal human intervention. It then helps create and validate rules at each step of the time and billing journey. This reduces the burden on lawyers and staff, improving productivity and profitability.”
• Coordination: Onyx provides a centralized repository of client guideline documents, terms, and rules –categorized by client, matter, and business area. This makes it easy for people to find information they need without sifting through endless documents. The system tracks any changes made to OCGs and notifies relevant parties, ensuring everyone is up to date on the latest developments.
• Compensation: Compliance with client guidelines is crucial to a firm's ability to receive compensation for services rendered. Onyx reduces the risk of bill rejections, write-downs, and write-offs, which unchecked can lead to significant reductions and delays in payment. Firms can protect their client relationships, preventing loss of trust and potential future business opportunities.  

“Onyx is a game-changer for law firms because it addresses these challenges at their core,” said Matthews. “For the first time ever, firms can ensure end-to-end compliance, improve coordination across multiple teams, reduce costs, and minimize reductions and delays in compensation.” 

Solving billing and compliance issues enables firms to get paid without friction and manage the client contractual relationship with confidence. Moreover, it frees up lawyers' time and allows them to focus on work quality and billable hours. This all results in improved revenue, profits, and client retention. 

Onyx will integrate with all major legal financial and practice management systems, ensuring seamless operations for law firms. 

Firms interested in Onyx are encouraged to register for Aderant’s Global Momentum conference taking place in Denver, CO from May 8-11. The company will give a live demonstration for all in-person and virtual attendees and offer several deep dive breakout sessions. Special pricing incentives will be available to firms who sign up for Onyx at the event. Register for this event here.