PwC bills itself as 'trusted third party' to protect international e-commerce

GLOBALISATION: consultancy pushes for standard system so advice and bills come in one format

PricewaterhouseCoopers (PwC) is positioning itself as the most likely contender to become a global 'trusted third party' for e-commerce, in a move which could see its billing systems become the standard for law firms.

The consulting giant is jockeying for an international role as the body entrusted with keeping encryption codes, which are the keys to e-commerce security.

It has also linked up with the American Bar Association and US law firms to push for a standard billing system, uniform task-based management system (UTBMS), to encourage law firms to use one standard information system so that multi-national clients would get advice and bills in one format.

PwC has launched a legal electronic data standard (LEDES) to combat the 'logistical nightmare' of different sets of electronic task codes and billing formats as law firms move away from hourly rates to task-based billing.

A further product, beTRUSTED.com, allows the firm to issue global certificates, which create a binding electronic contract if both parties are certified.

While PwC's main focus is the business-to-business market, the large and secure facility lends itself to use by law firms with multi-national clients.

The PwC partner in charge of the UK security practice, Chris Potter, said: 'Potentially, we would be in a position to become the official trusted third party.'

Charles Christian, editor of Legal Technological Insider, said software providers such as Verisign and other organisations, such as the UK's Post Office, also offer similar services, and that the Web language, XML is becoming an industry standard.

'PricewaterhouseCoopers is positioning itself so it can become a dominant player,' said Mr Christain.

'We don't want to have 10 different encryption systems, it's really a case that everybody's jockeying for position.'

Now that the US and the UK has brought in legislation recognising digital signatures, Mr Christian predicts: 'The next thing will be the acceptance of industry-wide standards.

It's very much an emerging market and other people are doing the same thing.

It's only this year that the legal situation has started to clarify.

It's only now that these things are moving from theoretically possible to legally permissible.'

But PwC's Chris Potter said law firms could still do more: 'Law firms are not very advanced in taking steps, although they are not unaware.'

Anne Mizzi