Application streamlines the management of proformas and improves collaboration with an integrated workflow for a more efficient billing process, better tracking, and improved data analysis

NEWTOWN SQUARE, PA (December 6, 2017)…Wilson Allen, a leading provider of consulting services and analytics software for professional services firms, today announced the general availability of the Wilson Proforma Tracker application. This software enables firms to manage the entire proforma and invoice distribution process with a firmwide-compliant and effective workflow. It allows for advanced front-office editing capabilities and provides valuable insight into the billing process.

“Proforma management is an essential billing function that can be one of the most challenging,” says Shishir Shetty, vice president of technology for Wilson Allen. “Without a controlled workflow and a simplified user interface to manage this process, collecting input from timekeepers on a timely basis can be difficult, leading to delays in billing and inaccurate invoices that are rejected by clients. From a technology perspective, dealing with large complex bills and getting data in and out of the back-end financial system can be tricky as well. Wilson Proforma Tracker addresses these challenges with a software and services package that offers ease of use and a fast implementation, from installation to pilot in as little as 90 days.”

With Wilson Proforma Tracker, firms can process proformas with greater speed and accuracy, leading to improved billing and therefore faster collections. The software clearly defines roles, events, and stages for proforma processing from generation through invoicing. Intuitive workflow functionality enables firms to manage the billing department’s workload better, whether the distribution of proformas takes places in individual offices or from a centralized billing department. Key features of the software include:

  • A touch- and mobile-friendly interface that gathers input and eases timekeeper collaboration for time and expense details
  • An efficient workflow that enables fast action, whether editing the proforma electronically or manually using a printed copy
  • Enforcement of compliance rules for write-downs and deferrals
  • Automated integration with financial management software, including Elite Enterprise and 3E
  • An audit trail of edits to ensure adequate backup and the ability to return to a previous version of information

Five firms, including Bates White LLC, Paul Hastings LLP, and Fish & Richardson P.C.., have already selected Wilson Proforma Tracker since the software’s initial introduction in June 2017, with one NYC-based global law firm in a live pilot stage and others in implementation.

“What caught our eye about Wilson Proforma Tracker is the visibility it provides into the entire process, enabling users to track proformas from generation to invoice completion,” says Sandy Tolson, controller at Bates White LLC. “It also allows us to decentralize and automate parts of the process, such as routing proformas to other team members and presetting permissions and caps for processing discounts and write-offs. We anticipate that these capabilities will help speed up the whole process and meet our clients’ needs by getting invoices sent to them within the time frame that they request. Plus, the faster we get invoices out, the faster we can get paid.”

Kathleen Deuschele, CFO of Paul Hastings LLP, anticipates process and visibility improvements as well. “We believe that the Wilson Proforma Tracker will enable us to prepare proformas more efficiently so we can not only get our bills out faster, but more accurately so they’re paid faster and with fewer rejections,” she says. “Plus, we’ll be able to manage the finance department’s workload better. Our billing coordinators will be able to keep track of a high volume of proformas within the tool rather than looking for the latest version of a PDF buried in e-mail. Analytics from the software will also help us better understand the behavior of our billing coordinators and attorneys to identify further opportunities for improvement.”

Wilson Proforma Tracker features built-in analytics that provide insight into the entire proforma process including:

  • How long the billing process takes from the proforma to the bill state and eventual distribution
  • Which types of bills are getting delayed and from which specific areas of the business
  • What the service-level expectations are for each stage and where the bottlenecks are occurring
  • What the firm’s anticipated volume and throughput of billing are each month

Tracy Beamon, senior financial systems analyst with Fish & Richardson P.C., believes the software’s ease of use and workflow functionality will help increase user adoption so the firm can prepare invoices faster. “Proforma Tracker contains the much-needed features that will get us close to full attorney adoption of electronic draft editing,” she says. “We showed it to a few of our top client relationship managers and they were very pleased with the interface and its ease of use. On the billing side, we can better track the attorneys’ edits, submission times, and most importantly get our invoices out the door quicker, which our clients will appreciate.”

To learn more about the Wilson Proforma Tracker application, please contact us.

About Wilson Allen

Wilson Allen is a leading provider of consulting services and analytics software that enables global law firms and professional services organizations to improve business performance. The company supports firms throughout the lifecycle of practice management software. It is a certified 3E services partner with Thomson Reuters Elite, a preferred implementation partner for American LegalNet, and is certified to provide services for all Intapp products. The company’s advisory services feature globally recognized business of law consultants who enable strategic, data-driven decisions. Its Wilson Ideate software makes it easier to access, analyze, and share the data that drives profitability and performance.