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When it comes to the payment for legal services that you offer, is your lawfirm giving the flexibility your clients want or deserve? Process of billing and payment collection is not anyone’s favorite part. But they are crucial for the lawfirm. What are ElectronicPayments?
Abacus Payment Exchange (APX) is a proprietary tool that has been built from the ground up and engineered exclusively for lawfirms. If queried, most lawfirms would point to March of 2020 as the point in time that everything changed. Balance Forward: Introducing Abacus Payment Exchange (APX).
Lawfirms of all sizes are feeling pressure to meet client demand for both tailored services and greater efficiencies in this rapidly changing industry. Legal teams are being pressed to control costs and better respond to changing regulatory and risk management obligations. Increasing law practice specialization.
Lawmatics , a company whose product provides client relationship management (CRM), client intake and marketing automation for attorneys, is now adding timekeeping and billing tools, with the goal of offering lawfirms a comprehensive platform with everything they need to manage their administrative sides.
Paradigm says it has seen substantial growth in recent years as lawfirms have moved to cloud-based products, and that it currently serves 11,000 lawfirms. LawSites also broke the news in July that MyCase had acquired casemanagement platform CASEpeer and document automation company Woodpecker. 7, 2021).
What with COVID, the economy and the day-to-challenges of practicing law and managing a firm, it’s been a tough three years. Yet despite it all, smaller lawfirms have a bullish outlook on their future prospects — and with good reason. This Week In Legal Tech: Exclusive Results Of A New Small-Firm Survey.
Poor cash flow is a problem that no lawfirm wants to have. For a lawfirm, client portals make it more likely that clients will pay their bills on time. Lawfirms who accept online payments typically get paid faster, and those payments are easier to track for all parties.
Running a large lawfirm is a balancing act with many moving pieces—especially when it comes to lawfirm billing. Legal billing software streamlines many essential billing tasks for lawfirms—like tracking billable hours and expenses, creating invoices, and managingpayment collections.
Once launched, the sites connect to other tools within Clio to enable online appointment scheduling, client intake, electronicpayments and Google Analytics. Newton told me that the sites are intended for individual lawyers only, not as a full lawfirm site. Enhancements to Payments and Billing. Effective Oct.
It has been a notable year for the practice management company MyCase , one in which it made four notable acquisitions of other practice management products, and then itself was acquired by AffiniPay , the parent company of the electronicpayments platform LawPay.
. – Jodi Donato, Donato Law In the fast-paced environment of law, staying on top of billing best practices isn’t just beneficial; it’s essential for building trust with your clients, improving your realization rate and cash flow, and growing your practice. It also facilitates prompt payments.
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