Briefs

Billing & Revenue Cycle Survey 2023: Key Takeaways

Key areas of focus for law firms to improve billing & revenue cycle processes.

Snapshot

Firms are evolving their approaches to staffing to better suit client needs.
Firms are making process changes to improve billing data and compliance with outside counsel guidelines (OCGs).
Firms are introducing new tech to increase automation and efficiency throughout the revenue cycle.
Advanced analytics, predictive tech and AI are already playing a role in pricing & billing processes, with strong uptick expected over the next 2-3 years.

About the Billing & Revenue Cycle Survey

The seventh Billing & Revenue Cycle Survey provides comprehensive benchmarking of billing and revenue-related aspects of law firms’ client matter lifecycle. Thirty-five law firms, 80% in the AmLaw 100, with average revenues of $1.5 billion and 1,300 attorneys, responded to the 2023 survey.