April 22, 2024 - This Thirty-Year AI Expert Challenges the Notion That AI Can Think

Bottomline Makes Legal Bill Review Service Available for More Platforms

Bottomline expanded the availability of its legal bill review service for property and casualty (P&C) insurance carriers and corporate legal organizations.

The service is now available to organizations using any legal spend or legal eBilling system, rather than being exclusive to customers using Bottomline’s platforms, the business payments company said in a Tuesday (March 19) press release.

“Our extended service, now able to function with any platform, delivers top-notch assistance to a broader audience, empowering legal departments to rein in spend leakage fostering greater efficiency and informed decision-making,” Matt Kivlin, head of product management and legal spend management at Bottomline, said in the release.

Bottomline’s third-party bill review helps customers reduce the amount of time they spend on invoice review and approval, improve their decision-making and reduce their legal spend by 6% to 10%, according to the press release.

The service is supported by the company’s team of nearly 200 attorney auditors with experience in the claims defense and corporate legal/litigation disciplines, the release said.

Bottomline’s legal bill review service itself has 30 years of experience and works with more than 400 P&C carriers, third-party administrators, self-insured companies and corporate legal departments, per the release. In 2023, it helped these customers save more than $400 million.

“As legal costs surge for P&C insurance carriers and corporate legal departments, the imperative for tailored bill review programs is clearer than ever,” Kivlin said in the release.

Bottomline was acquired by software investment firm Thoma Bravo in May 2022 for $2.6 billion in cash, with Thoma Bravo saying Bottomline would lean on the acquiring company to expand the reach of its suite of products that help businesses digitize how they pay and get paid.

In February, Bottomline debuted an updated fraud prevention kit that helps banks and nonbanking financial institutions use data visualizations, threat profiles and advanced case management strategies to combat insider fraud.

The company’s enhanced Insider Threat Management solution delivers broad fraud prevention capabilities to address a growing number of use cases across sectors, Omri Kletter, vice president of risk solutions at Bottomline, said at the time.

“Whatever the motivations, including bad actors plotting ransomware attacks while disguising themselves as insiders, the ever-growing threat is real,” Kletter said.

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.