nQueue Billback Publishes Cost Recovery Data Capture and Rate Report

Global News

12
Feb
2014

Editor

With data from 152 law firms, report is the most accurate benchmarking study of its kind

nQueue Billback the only truly global cost recovery provider and a leading provider of document scanning and routing solutions, today announced the publication of its Cost Recovery Data Capture and Rate Report. The report, with data collected from 152 law firms worldwide, is the largest source of cost recovery information available today.

Because the Cost Recovery Data Capture and Rate Report draws from actual data—not self-reported survey responses—it is the most accurate cost recovery benchmarking study ever produced. It includes an analysis of what percentage of firms are capturing cost information in 10 different areas—copy, color copy, print, color print, fax, scan phone, postage, shipping and research—and describes the rates charged back to clients in six of those areas. Data is grouped by firm size to allow for benchmarking.

The study uncovered some extremely interesting and useful data points. For example, in 2006 firms made one print for every two copies; now they make 1.5 prints per copy—and increase of 300%. At the same time, more than 75% of firms now charge clients for prints, up from less than 5% in 2006. "Considering the relative change in volume, it only makes sense to charge for prints as well as copies," said John Gilbert, Senior Vice President of nQueue Billback.

Law firms can use the data in nQueue Billback's Cost Recovery Data Capture and Rate Report to make better and more profitable decisions about how to manage their firm. "We are asked all the time to help our clients understand what other firms are doing in terms of cost recovery and this report provides the answers," said Rick Hellers, President & CEO of nQueue Billback. "What the data shows is that cost recovery remains an important element in firms’ profitability."

An infographic with a limited number of data points, including copy and print capture rates, is available for free download here.