What’s the best part of the day for in-house counsel? Probably not legal invoice review.
While it’s often necessary to ensure adherence to outside counsel billing guidelines, it still consumes valuable time on highly manual work.
That’s why we are introducing InvoiceAI to our enterprise legal management – to free in-house lawyers from the manual labor of tedious legal invoice review.
Onit announced this next significant phase of innovation at Legalweek(year) with our first InvoiceAI video. Launching in May for both Onit and SimpleLegal, InvoiceAI harnesses AI’s power to increase the efficiency of the invoice review process. It handles the first-pass review of incoming bills and sets up a framework that will continuously learn as invoice corrections are refined in the system. The result: General counsel and in-house counsel can transfer rediscovered bandwidth and energy to higher-value work for their companies.
This second InvoiceAI video shares more about the InvoiceAI.
Legal Invoice AI Joins Our Contract AI
AI-enabled invoice review from InvoiceAI modernizes the legal operations function and automates the review of law firm billing for corporations. It perfectly illustrates our founding principle: To help lawyers more effectively practice law.
When InvoiceAI launches in May, it will join an impressive roster of AI solutions already on offer from Onit, including:
- Precedent, Onit’s AI-powered business intelligence platform that automates and improves both legal and business processes for corporate legal departments, law firms, contract professionals and procurement teams.
- ReviewAI, contract AI for pre-signature contract review that reviews, redlines and edits all types of contracts in minutes, increasing contract review speed by 60-70%.
- ExtractAI, contract AI for post-signature contract management that extracts usable data from executed, legacy and third-party paper contracts.
You can schedule a demonstration of any of Onit’s AI solutions here.
A Legal AI Refresher
The field of AI is continually evolving, and it’s essential for today’s legal professionals to stay ahead of the curve. If you’re looking to bone up on AI, here are some great places to start:
- What is Artificial Intelligence? The ABCs of What Is It and What it Does. AI is more than just today’s hottest buzzword. Get up to speed with this handy overview of the basics of AI and its three main hallmarks.
- Four Legal AI Trends Impacting Corporate Legal Departments. Nick Whitehouse, General Manager of the Onit AI Center of Excellence, outlines the legal AI trends that will shape the landscape for general counsel and legal operations professionals in 2021.
- How Legal Contract Lifecycle Management (CLM) and Contract AI Empower Legal Operations. When you work in legal operations, you’re required to wear a lot of hats. This blog post explores how the combined power of CLM and contract AI bolsters the practice of corporate law and legal operations.
Remember: AI won’t replace lawyers. But lawyers using AI will replace those that don’t.
Thanks for your time and stay tuned to our blog. We’ll have more InvoiceAI and contract AI announcements coming soon.