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DataCert Strengthens Global Electronic Invoicing Platform with Adoption of International Electronic Data Exchange Standard
Compliance with Recently Enacted LEDES Standards Gives Corporate Law Departments Greater Flexibility in Tracking and Reporting on Worldwide Legal Spend
HOUSTON, Jan. 29, 2007 - DataCert, Inc., the leading provider of electronic invoicing and legal spend management solutions, today announced that its Advanced Invoice Management System (AIMSSM) complies with the latest Legal Electronic Data Exchange (LEDESTM) international standards. In addition to supporting multiple currencies and assisting with value-added tax (VAT) compliance, AIMS will now allow corporate law departments to send legal invoices electronically in an industry-supported format. This compliance is critical for corporate law departments that conduct business with law firms and vendors outside of the United States.
"LEDES 1998B International (LEDES 1998B-i) represents an essential building block for the standardized exchange of electronic invoices worldwide," said Cole Morgan, member of the LEDES Oversight Committee (LOC) board of directors and DataCert's director of sales consulting. The LOC is a non-partisan trade organization that administers the LEDES standards.
Morgan continued, "Legal e-invoicing requires content-rich information and is far more complex than the quantity-driven standards seen in other industries. This new standard enables corporate legal departments to better manage global legal spend by addressing the specific requirements of international billing transactions. By integrating LEDES 1998B-i with AIMS, our clients will now have the ability to capture critical data - such as VAT and tax identification numbers - in a universally accepted format."
In accordance with LEDES, AIMS will allow law departments to identify, process and report on standard fields such as vendor tax ID, client tax ID and tax summaries. This provides critical compliance and audit-ability functionality to corporations conducting business with international law firms and vendors.
Availability
This AIMS feature is available immediately. For more information, please contact DataCert at 713-572-3282 or e-mail nasales@datacert.com (North American inquiries) or emeasales@datacert.com (international inquiries.)
About LEDES
The LEDESTM (Legal Electronic Data Exchange Standard) file format is intended to serve as a standard file format to be used by the legal industry for the electronic exchange of information. LEDES was developed originally by PricewaterhouseCoopers and is currently administered by the LEDES Oversight Committee (LOC), a voluntary body consisting of industry representatives. It is the goal of the LOC that LEDES be an open, non-partisan standard and that LEDES be the single standard used for all billing within the industry. For more information on LEDES, please visit www.ledes.org.
About AIMS
Advanced Invoice Management System (AIMS) is DataCert's web-based application that facilitates the approval and payment of electronic invoices between law firms and vendors and corporate law departments. Its primary purpose is to help managers proactively analyze corporate legal spend. Using AIMS, legal invoices are validated against corporate outside counsel guidelines, routed, adjusted and approved, then posted to a matter management and/or accounts payable system.
About DataCert, Inc.
DataCert, Inc. is the largest and fastest-growing supplier
of electronic invoicing and corporate legal spend management solutions. DataCert's products
and services provide a substantial return on investment to corporations looking to take
control of their outside legal spend. With more than 11,000
customers in 150 countries,
including 71 of the Fortune® 500, DataCert
processes in excess of $9 billion of electronic
invoicing data on an annualized basis. DataCert is headquartered in Houston with regional
offices in London, Paris and Austin. Visit DataCert at www.datacert.com for more information.
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