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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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How a Client Portal Can Improve Your Law Firm’s Cash Flow

Rocket Matter

For a law firm, client portals make it more likely that clients will pay their bills on time. Portals can support steadier liquidity for your firm while reducing the time it takes to follow up, and minimizing the need to have those awkward payment conversations with clients.

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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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Tips to Elevate Your Billing in Clio

Clio

Now, with Clio, it’s easy, it’s efficient, it takes 45 minutes, and people get it done on time.” – Angela Lennon, Koenig | Dunne Inefficient billing workflows can be a burden on busy law firms, eating up hours every month that could be spent serving or acquiring more clients. You can view and edit your bill messaging templates here.

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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.