Elite, a leading provider of financial management and business operations solutions for premier law firms, has unveiled its latest innovation: Elite Validate. The new platform is a purpose-built, AI-powered billing compliance solution designed to transform how law firms adhere to Outside Counsel Guidelines (OCGs). Elite Validate is the first in a series of AI solutions from Elite aimed at streamlining and automating key business operations while delivering real-time intelligence.
As law firms face mounting pressures from increasing workloads and the need for digital transformation, Elite Validate offers a timely remedy to a historically cumbersome process. OCG compliance reviews are essential yet time-consuming, and prone to human error. Elite Validate leverages artificial intelligence to automatically interpret complex OCG documents, rapidly converting them into accurate billing rules—an efficiency that far surpasses traditional manual methods.
Elisabet Hardy, Chief Product Officer at Elite, highlighted the transformative potential of the new solution. “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,” Hardy said. “Elite Validate is a robust new AI solution that operates in real time and delivers tangible impact by making the OCG review process more efficient, so law firms can get paid faster.”
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Meeting the Market
This new offering from Elite underscores the overall market shift moving towards integrating AI in essential payment platforms, combining advanced technology with deep industry expertise to create superior working methods.
The recent Automating the Record-to-report and Financial Close Process report found that the pressure to reduce manual and repetitive financial accounting tasks is a major pain point, as it was cited by 55% of respondents. AI and automation are now playing a major role in overcoming these issues, helping accomplish essential tasks, maximize efficiency, minimize errors, and allow users to spend their time on other important work.
Elite Validate helps streamline essential workflows in its own unique way, as it automates the creation of billing rules by reading and understanding OCGs and other guideline documents faster than any human could. In addition, the system generates automated alerts that notify users instantly of any deviations from required guidelines during the work-to-cash cycle.
Once the rules are accepted, the solution vigilantly enforces them across multiple stages of billing and review, ensuring compliance from start to finish. Furthermore, Elite Validate is designed to continuously learn from historical data, such as previous rejections and billing adjustments, to automatically create and enforce updated billing rules that may not have been included in the original documents.
The introduction of Elite Validate marks a significant milestone for law firms aiming to improve operational efficiency and profitability. The solution not only reduces the administrative burden and frustration associated with manual compliance reviews but also helps firms secure payments more rapidly. It is strategically positioned alongside Elite’s eBillingHub, the company’s leading electronic billing platform, and integrates seamlessly with other Elite offerings including 3E Time, 3E Proforma, and 3E Billing. Moreover, Elite Validate is compatible with many third-party time-entry, billing, and financial management applications, making it unique among OCG solutions for its versatility across both large firms and small- to mid-market financial systems.
In an era of rapid digital evolution, Elite Validate exemplifies how AI can revolutionize traditional practices, ushering in a new wave of efficiency and accuracy in legal billing processes. As law firms continue to adapt to digital demands, Elite Validate stands out as a truly powerful tool in the quest for operational excellence and timely revenue realization.
“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,” said Hardy.
What This Means for ERP insiders
Learn from the past and grow from it. Many companies still rely on manual methods and outdated tools to perform these essential tasks. Whether it involves spreadsheets or emails, these legacy practices can result in inefficiencies and errors throughout these processes. Whether they are in law offices or other companies, those in charge of important financial transactions should ensure that they implement the latest solutions to set their organizations up for success. This means automating manual workflows and installing AI capabilities to find ways to improve essential functions.
AI can be the backbone of compliance if used correctly. Some organizations still hesitate to utilize AI capabilities. One of the most common explanations is because of lingering concerns about privacy and compliance issues. Recent SAPinsider data found that security and privacy risks were cited by over 50% of companies who have encountered barriers while implementing AI and automation technologies. However, AI when used correctly can also be a powerful tool for compliance. Using AI models that can understand and enforce compliance rules can help streamline this important process and catch issues humans could miss.
Using AI to maximize the power of your people. Ultimately, AI is not designed to replace human workers, it should supercharge them. Solutions like Elite Validate should spare professionals from manual work which can be dull and time-consuming, freeing them up to work on tasks that better make use of their skills and experience. Compliance reviews are important, but can take up significant time and risk introducing human errors, causing reduced job satisfaction and potentially damaging client relationships. Leading organizations are beginning to understand that their teams can be more productive if these tasks are taken off of their plates by AI solutions.
