Insights from invoice data can help to identify the real drivers of billing rates, allowing companies to take appropriate action to reduce their legal spend.

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With the 60-day grace period kicking in from the end of the month in which the invoice is received, HMV would not have had to pay the bill until springtime.

BBC: Music labels reeling at HMV woes

Factors operate on a similar model, purchasing accounts receivables from a business in exchange for an advanced funding amount for each invoice.

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