CounselLink FastTrack, powered by LSQ helps law firms get paid quickly while providing extended payment terms and cash back on invoices to firm clients.
CounselLink FastTrack simultaneously addresses the conflicting requirements of law firms – for whom late payments can cause cash flow issues and end-of-the-year stress – and legal departments, which prefer to hold onto their cash and pay invoices based on corporate policies and terms. For a service fee, firms that participate get paid within one business day of invoice approval, while at the same time their corporate clients have the flexibility to extend payment terms to 60 days or more. Legal departments can also earn up to 2% cash back on invoices processed via CounselLink FastTrack.
On average, CounselLink customers generate a return of 18 times their original investment from approved adjustments, prompt pay discounts and volume discounts, and they achieve 7%–10% internal counsel savings from efficiency gains.
LexisNexis CounselLink is a cloud-based legal management solution designed to help corporate legal departments gain visibility into their work, matters, and invoices. CounselLink delivers Work Management, Financial Management, and Vendor Management solutions in one platform.
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