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Thankfully, there’s a better way your firm can accept payments, and that is through an electronicpayment system. Electronicpayment is essential for law firms who want to provide the best experience to their clients and wish to increase the firm’s revenue. What are ElectronicPayments?
If you’re reading the Rocket Matter blog, it’s safe to say that you want your firm to succeed in 2023. Electronicpayments . Plus, accepting electronicpayments keeps your firm’s cash flow healthy by shortening payment cycles and, in some cases, offering instant access to funds. . Brace yourself.
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. Disclosure: PracticePanther and its parent company Paradigm are advertisers on this blog and my LawNext podcast.].
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%.
Over the summer, this blog broke the news that Thompson Street Capital Partners had acquired Tabs3 Software, one of the oldest practice management products, and which also owns cloud platform CosmoLex. Exclusive: Bill4Time Launches Fully Integrated ElectronicPayments (May 11, 2021). Financial terms were not disclosed.
Subscribe to our blog and get our blog posts delivered to your inbox! Digital technology tools can serve firms well in this regard, especially with respect to: Electronicpayment processing; and Trust accounting software. Even better is working with a payment processor designed for the legal industry.
In this blog post, we’ll cover what you need to know about law firm revenue. Accept credit cards and online payments. According to our 2019 Legal Trends Report , law firms that accept electronicpayments get paid faster. But how do you know if your law firm’s revenue is enough to grow and scale your business?
Not surprisingly, scores of companies are already using this form of payment: in 2022, the ACH Network processed a whopping 30 billion eCheck payments. Saving time With eChecks and other electronicpayments, business owners save a great deal of time. Interested in learning more about alternative payments?
If the answer is yes, you have landed on the perfect blog. These days, clients are looking for convenience, security, and flexibility while making payments for legal services. They don’t want to go through the long and traditional process of making payments. This technology can increase the cost of law firms.
In the following blog post, we’ll explore how to find the best legal billing software for large firms like yours. Invoice creation and sharing features: The ability to create detailed, clear invoices for various billing arrangements (such as individual and split bills) and securely send them electronically.
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