The Growing Importance of Invoices-to-Cash: A Market Validation

Elite’s recent acquisition of Tranch highlights a critical development in the legal technology landscape: the recognition of Invoices-to-Cash as a transformative area for law firms. This strategic move by a major industry player validates our early focus on this space, which we pioneered with BillingQ. 

Why Invoices-to-Cash Matters

Law firms face unique challenges in managing their billing processes, underscored by industry data: 

  • Collection cycles lengthened by 5.0% and 3.7% the last two years, and accounts receivable (A/R) increased by 9.4% and 10.4%, respectively. 
  • The vast majority of firms (76%) have added billing and collections staff over the last five years and most firms (52%) expect to need more staff moving forward. 
  • Overhead expenses increased by an average of 7.1% in 2023. 

These industry trends are driving firms to seek automation and efficiencies beyond simply hiring additional staff. Invoices-to-Cash solutions, like our BillingQ platform, integrate with firms’ billing system to streamline these processes by automating the last mile of billing workflows, enabling: 

  • Faster payment cycles: Reducing the time between invoicing and cash realization by 15-25%. 
  • Improved collection rates: Ensuring more consistent cash flow and higher realization rates. 
  • Enhanced client experience: Providing modern payment options that meet client expectations for convenience and security. 

A Validation of BillingQ’s Vision

At nQ Zebraworks, we’ve long understood the potential of Invoices-to-Cash to revolutionize the way law firms manage their financial operations. BillingQ was built specifically to address the inefficiencies in law firm billing workflows, offering a solution that integrates seamlessly with firms’ billing systems, including Elite. 

Elite’s acquisition affirms our strategic focus. As a purpose-built solution for law firms, BillingQ remains at the forefront of this evolution, with capabilities that: 

  • Automate AR processes: Eliminating manual steps and reducing administrative burden. 
  • Offer flexibility: Supporting online payments, split payments, and surcharging compliance. 
  • Deliver actionable insights: Providing firms with data-driven tools to optimize collections.

Firms implementing holistic Invoices-to-Cash processes report significant returns on investment: 

  • Reduction in A/R turnover by 10-20 days. 
  • Improved collection realization rates of 1-3%. 
  • Monthly billing cycle savings of 4-6 days through automation. 

What’s Next? 

The legal industry is entering a new era of financial management, where innovation in bill delivery, collections and payments is no longer optional—it’s essential.  

As a pioneer in the Invoices-to-Cash space, we welcome this validation and remain committed to driving innovation. BillingQ continues to set the standard for what law firms should expect for the last-mile Invoices-to-Cash process, empowering them with “found money” both in cost savings and time savings while delivering a better experience to their clients. 

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