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LEDES TM
The LEDES TM (Legal Electronic Data Exchange Standard) file format is intended to serve as a standard file format to be used by the legal industry for the electronic exchange of information. Initially, the focus is on billing information. LEDES was developed originally by PricewaterhouseCoopers who have placed it in the charge of the LOC (LEDES Oversight Committee), a voluntary body consisting of industry representatives. It is the goal of the LOC that LEDES be an open standard which caters to no one organization or group of organizations and that LEDES be the single standard used for all billing within the industry.
RainMaker is a General Member of the LEDES Oversight Committee (LOC).
NOTICE Last year, the LEDES Oversight Committee (LOC) surveyed over 120 law firms regarding the submission of electronic invoices and the back-and-forth communication regarding those invoices until the bill is finally paid. The survey found that these can be extremely painful and resource-intensive processes for law firms. In order to streamline these processes and lessen some of the burden and difficulties law firms face in the ever-expanding use of electronic invoicing in our industry, the LOC is considering developing standards around the communication process. If all vendors involved in the process utilized the same protocols for submitting invoices, acknowledging receipt and communicating problems, much of the process could be fully-automated, reducing the additional resource requirements of law firms and general overhead expense of same. In order to help the LOC quantify how these difficulties affect its various constituencies, the LOC would like input from corporate counsel legal departments. Please take a few moments to fill out the survey accessed by clicking the link below. The survey is brief and shouldn’t take more than a few minutes to complete. Your efforts are greatly appreciated. If you are interested in participating more actively with the LOC on this or any other issue surrounding electronic invoicing in the legal industry, please visit http://www.ledes.org. |
