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Electronic Payments: How They Benefit Your Law Firm

Clio

When it comes to payments, is your firm giving clients the flexibility they desire and deserve? Electronic payments are essential if you want to provide an excellent client experience while increasing your firm’s efficiency and revenue. What are electronic payments? Electronic payments can take many forms.

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Everything You Need to Know About Law Firm Revenue

Clio

It’s also an important metric for law firm owners to track —especially if you want to grow your firm and improve your profitability. Our 2022 Legal Trends Report found that the rate of inflation is outpacing the Billable Hour Index. billion in revenue in 2022. Revenue is key to the sustainability and success of any business.

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New LawPay/MyCase Survey Provides Insights Into The Tech That Matters For Smaller Law Firms

LawSites

The 2022 Legal Industry Report was compiled by the electronic payments 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. Legal billing and time-tracking software, 42%.

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Exclusive: Economic Optimism Among Smaller Law Firms Drives Increased Spending, But They Still Face Challenges Meeting Client Demands, New Survey Finds

Legal Tech Monitor

The report finds that firms are leaning into technology that allows them to better track billable hours, manage invoicing, and accept electronic payments. This struggle is intensified during down economic times, which commonly lead to delays in collection.” Improving firm finances.

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Highlights from the 2023 Legal Trends Report

Clio

At the same time, inflation rates have reached their highest levels in decades, putting firms in the tough position of trying to do more with less. This is the amount of revenue that is unbilled at any given time (also known as “work-in-progress lockup”). The key concepts in this metric are as follows: Realization lockup.