Some general counsel and in-house consultants are skeptical that short-staffing and e-billing snags are causing legal departments to take longer to pay law firm bills—an assertion contained in a recent report by Citigroup.
Gretta Rusanow, head of advisory services for Citi’s Global Wealth at Work Law Firm Group, told Law.com earlier this week that collections cycles through the first nine months have increased 3.7%. Rusanow said firms have anecdotally told her group that if it used to take 30 days for a payment, it’s now taking 60; if it used to take 60 days, it’s taking 90.
