ABN Amro has ditched any immediate plans to introduce e-billing following a review of the cost to benefit ratio.
As first reported by The Lawyer (25 September 2006), Dutch bank ABN has been investigating alternatives to traditional billing methods in a bid to make savings on the cost of external legal advice.
ABN group deputy general counsel John Collins told The Lawyer: “At the moment the cost to benefit ratio of introducing e-billing doesn’t stack up.
“We will, however, review the situation towards the latter part of the year. We intend to undertake a rolling review of the situation.”
Barclays is also carrying out a review of law firm billing practices.
The bank has joined up with US supplier DataCert to monitor the exact composition of law firm bills, recording comparative data on how firms staff their deals, and capturing information on hours recorded by partners, associates, trainees and paralegals (The Lawyer, 19 February).