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When it comes to payments, is your firm giving clients the flexibility they desire and deserve? Electronicpayments are essential if you want to provide an excellent client experience while increasing your firm’s efficiency and revenue. What are electronicpayments? Electronicpayments can take many forms.
Nearly six in 10 lawyers in small firms — which the survey defines as those of 29 lawyers or fewer — say they expect growth over the next 12 months in revenues per lawyer, billable hours, and profits per lawyer. Given this optimism, it should not be surprising that small firm lawyers consider themselves successful.
In March 2019, ASG LegalTech went on to acquire a third practice management platform , MerusCase , which is tailored for lawyers in specific practice areas, including workers’ compensation, employment and personal injury. MerusCase Adds Rules-Based Calendaring Through Integration With CalendarRules (July 20, 2021). 22, 2020).
Related: “8 Legal Practice Areas Growing in 2021 and Beyond” Document automation levels up. Every gain in efficiency frees up lawyers to focus on high-value activities and increase billable work. With more lawyers working remotely, firms are more vulnerable than ever. Legal tech meets fintech.
Not surprisingly, the pandemic drove greater use of electronicpayments across all industries, with the volume of electronicpayments up 11.2 % in the first quarter of 2021 over the prior year. With e-payments, the time it took firms to collect invoices decreased by 20.4%, and their collections increased by 6.7%
The 2022 Legal Industry Report was compiled by the electronicpayments company LawPay and the law practice management company MyCase, both of which are owned by AffiniPay , based on a survey of more than 2,300 legal professionals during August and September. Document management software, 43%.
If you’re wondering what the average small law firm revenue potential is, the same report found that lawyers who worked in-house at a small law firm earned an average of $210,000 in 2019. Over 60% of small law firm lawyers expected high-to-moderate growth in revenues per lawyer, billable hours, and profits per lawyer.
The company also is adding new electronicpayment capabilities through a partnership with Gravity Legal , a credit card and bank transfer acceptance platform specifically designed for law firms. ” Spiegel is a former lawyer who was the original founder in 2009 of law practice management platform MyCase.
As part of its Clio Grow product, Clio now offers lawyers the ability to create simple, no-code, one-page websites. Once launched, the sites connect to other tools within Clio to enable online appointment scheduling, client intake, electronicpayments and Google Analytics. Enhancements to Payments and Billing.
In October 2021, Clio , the law practice management company, launched Clio Payments , native e-payments technology built into the Clio Manage law practice management platform — a launch that CEO Jack Newton described at the time as the company’s most important product release since its debut in 2008.
In a deal that is sure to shake-up the already hyperactive market for law practice management software, AffiniPay , the parent company of the electronicpayments platform LawPay , has acquired the law practice management company MyCase. “It’s simple, it’s powerful, its customers love it. .
However, they recovered in 2021 and even increased their casework beyond pre-pandemic levels. For example, while mid-sized firms’ utilization rates (the number of hours put toward billable work as measured against an eight-hour workday) climbed slowly from 2019 to 2021, they dropped in 2022.
However, they recovered in 2021 and even increased their casework beyond pre-pandemic levels. For example, while mid-sized firms’ utilization rates (the number of hours put toward billable work as measured against an eight-hour workday) climbed slowly from 2019 to 2021, they dropped in 2022.
Law firms looking to improve collection rates should consider online billing and payment options, according to new data from Clio’s 2023 Legal Trends Report. A boom in lawyer productivity While inflation and lending rates have risen over the past few years, so too have lawyer caseloads and the cost of legal services. The reason?
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