How law firms are billing clients faster with AI

Recap

We often talk about how analysts using AI can save time by getting an upfront view of a client’s risk profile. The significant outcome is that the firm itself saves money and can generate more revenue by expediting the client risk profiling process. Especially since the time spent on onboarding is time not billed to the client.

Traditionally, due diligence might take hours, but it could also extend to days or even weeks. One international law firm said the conservative estimate of lost partner fees due to delayed onboarding is £16 million.

Xapien aims to break this cycle by enabling the swift onboarding of less-risky clients and expediting the identification of higher-risk clients. It now takes just hours, or at most a day or two. Complete the form below to connect with our expert team about how AI could help your fee-earners.