Clients review proposed rates against market benchmarks, prior year rates, and internal guidelines, approving specific rates by timekeeper or by level. Approved rates are loaded into the e-billing system, which rejects invoices at unapproved rates.
Increases typically require advance submission on a defined schedule.
Alternative Names:
Rate Approval, Rate Setting Process
Why it Matters?
Rates not submitted and approved before the effective date are simply rejected by the billing system, which converts an administrative lapse into unbilled work. Approval windows are also fixed and infrequent, so missing one means holding the prior year's rates for another full cycle. Adding a new timekeeper mid-matter requires the same approval, which is a common source of rejected time.
Frequently Confused with
Related terms
Frequently asked questions
What happens to unapproved rates?
Do new timekeepers require approval?
