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The lawpracticemanagement platform Filevine has added the build-in ability for lawfirms to accept electronicpayments from clients, capping off its suite of time and billing capabilities in a new feature set it calls Time Tracking, Billing, and Payments.
The pandemic has made it more essential than ever before for lawfirms to accept electronicpayments. Clients who now pay everything else online have no appetite for lawyers who require paper payments. Plus, lawfirms that accept e-payments get paid faster and increase their collections, studies suggest.
As the most comprehensive analysis of the legal industry, the Legal Trends Report consolidates vital information on lawfirm performance while illuminating the influential factors driving changes in legal practice. Were thrilled to announce the recent release of the 2025 Legal Trends for Mid-Sized LawFirms report.
An ABA study found more than 60% of lawfirms still use paper checks as their main payment method. Legal industry is undergoing a digital transformation, within which electronicpayment processing is a driving concern. Select a processor that is designed to meet the needs of lawfirms and is IOLTA-compliant.
Paradigm — the parent company to practicemanagement platforms PracticePanther , Bill4Time and MerusCase and payments platform Headnote — is being acquired by Francisco Partners , a major investment firm that specializes in investments in technology businesses. Hot Market for PracticeManagement.
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? Scheduled payments.
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. Flex Appeal: Payment Options in Abacus Payment Exchange.
It’s also an important metric for lawfirm owners to track —especially if you want to grow your firm and improve your profitability. But how do you know if your lawfirm’s revenue is enough to grow and scale your business? And how does your firm’s revenue stack up against the average lawfirm revenue?
A legal industry report released today by the sibling legal technology companies LawPay and MyCase provides unique insights into the technology tools that matter most to smaller lawfirms in the post-pandemic era. Other types of cloud software used by firms: Calendar management software, 44%.
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 lawpractice specialization.
You might find this information shocking coming from the company that created the first online legal billing and lawpracticemanagement software… . With legal time tracking software like Rocket Matter, every minute is accounted for so that your firm can generate accurate client invoices quickly and reliably. .
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%
In fact, during 2022’s “Great Resignation,” a third of lawyers who quit their jobs did so to start their own solo practices, according to Legal Trends for Solo LawFirms , a report published today by lawpracticemanagement company Clio.
Traditionally, one of clearest divisions in web-based lawpracticemanagement systems was between products that supported billing and trust accounting, and those that offered billing, trust accounting, and general ledger accounting. But now that has changed. Additionally, knowing your business means knowing your numbers.
Way back in 2020, I wrote about how the pandemic had escalated the importance of electronicpayments as a feature of lawpracticemanagement software. Actionstep, which says it is used by more than 775 lawfirms in the U.S., is presenting a webinar on the new feature on Nov.
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.
The lawpracticemanagement platform Filevine has added the build-in ability for lawfirms to accept electronicpayments from clients, capping off its suite of time and billing capabilities in a new feature set it calls Time Tracking, Billing, and Payments.
First up is the online payments company LawPay , which today is announcing a new product tier, LawPay Pro, that enhances the standard LawPay electronicpayments platform with the addition of legal billing features.
The Clio Cloud Conference is always the occasion for the lawpracticemanagement company to announce new and enhanced products, and today’s kick-off of this year’s event was no different, with CEO Jack Newton unveiling what he described to me as the most important product release since Clio’s debut 13 years ago.
Paradigm , the parent company to four legal practicemanagement and payments products — PracticePanther , Bill4Time , MerusCase and Headnote — today adds a fifth, as it acquires TrustBooks , the cloud-based accounting software built specifically for lawfirms.
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.
In a deal that is sure to shake-up the already hyperactive market for lawpracticemanagement software, AffiniPay , the parent company of the electronicpayments platform LawPay , has acquired the lawpracticemanagement company MyCase. ” Opportunities for Growth. .
economy, smaller lawfirms are showing greater optimism about their futures, as evidenced by the face that they are either maintaining or increasing their 2023 budgets across most key categories, according to a survey report released today. Many of these firms are actually investing more in their practices instead of scaling back.”
What with COVID, the economy and the day-to-challenges of practicinglaw 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. More Exclusive Survey Results: How Small LawFirms Measure Success.
As the legal industry’s most in-depth examination into the state of legal practice, the Legal Trends Report brings together critical insights about lawfirm performance. It also sheds light on the forces shaping legal practices. This report defines mid-sized lawfirms as those with 21 or more employees.
As the legal industry’s most in-depth examination into the state of legal practice, the Legal Trends Report brings together critical insights about lawfirm performance. It also sheds light on the forces shaping legal practices. This report defines mid-sized lawfirms as those with 21 or more employees.
In October 2021, Clio , the lawpracticemanagement company, launched Clio Payments , native e-payments technology built into the Clio Managelawpracticemanagement platform — a launch that CEO Jack Newton described at the time as the company’s most important product release since its debut in 2008.
LollyLaw , a cloud-based practicemanagement platform designed for immigration lawyers, is today launching a native electronicpayments platform, LollyPayments. The new e-payments capability enables LollyLaw customers to collect and reconcile payments without having to switch between LollyLaw and third-party vendors.
It has been a notable year for the practicemanagement company MyCase , one in which it made four notable acquisitions of other practicemanagement products, and then itself was acquired by AffiniPay , the parent company of the electronicpayments platform LawPay.
As we continue to emerge from the pandemic, I asked Newton how he sizes up the legal profession today and what he sees as the impact of the pandemic on the practice of law. Many lawfirms emerged from the pandemic better and stronger than before, he said. Legal Trends Report. Remaining Client Centered.
In this exclusive LawNext interview recorded in advance of the announcement of ASG LegalTech’s acquisition of electronicpayments company Headnote, host Bob Ambrogi speaks with the two companies’ CEOs: Soumya Nettimi of ASG LegalTech and Sarah Schaaf of Headnote, on the reasons for the deal and the significance for customers.
In fact, during 2022’s “Great Resignation,” a third of lawyers who quit their jobs did so to start their own solo practices, according to Legal Trends for Solo LawFirms , a report published today by lawpracticemanagement company Clio.
The Clio Cloud Conference is always the occasion for the lawpracticemanagement company to announce new and enhanced products, and today’s kick-off of this year’s event was no different, with CEO Jack Newton unveiling what he described to me as the most important product release since Clio’s debut 13 years ago.
The idea still might feel foreign to those who run professional practices, like solo or small lawfirms. Although it might feel comfortable to stick with the paper check or walk-in-to-pay system, there are numerous benefits to accepting e-payments. What Are E-Payments? How Can E-Payments Help Your LawFirm?
As the legal industry’s most in-depth examination into the state of legal practice, the 2023 Legal Trends Report brings together critical insights on the biggest challenges facing modern lawfirms. Today, the average lawyer has a heavier caseload and earns more for their firm than in previous years. Total lockup.
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