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The pandemic has made it more essential than ever before for law firms to accept electronicpayments. Clients who now pay everything else online have no appetite for lawyers who require paper payments. Plus, law firms that accept e-payments get paid faster and increase their collections, studies suggest.
For practicemanagement and case management systems, look for Service Organization Control 2 (SOC 2) compliance, which assures clients that your firm has the infrastructure, tools and processes in place to protect sensitive information from unauthorized access. Legaltech meets fintech. Remote work is here to stay.
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.
One of the most dynamic areas of legaltech right now is practicemanagement, which has seen a surge of investments and acquisitions over the past year. Since acquiring Headnote, it has integrated its e-payments technology into both PracticePanther and Bill4Time, with plans to also add it to MerusCase.
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 2022 Legal Industry Report was compiled by the electronicpayments company LawPay and the law practicemanagement 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%.
The law practicemanagement platform Filevine has added the build-in ability for law firms 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.
One of the most dynamic areas of legaltech right now is practicemanagement, which has seen a surge of investments and acquisitions over the past year. Since acquiring Headnote, it has integrated its e-payments technology into both PracticePanther and Bill4Time, with plans to also add it to MerusCase.
Some of what we talked about is under embargo until Monday, when Clio will be announcing new products and releasing its latest Legal Trends Report. But Newton did share some of his thoughts about the state of the legal industry and the legaltech market. State of the Legal Profession. Here is a quick recap.
In a deal that is sure to shake-up the already hyperactive market for law practicemanagement software, AffiniPay , the parent company of the electronicpayments platform LawPay , has acquired the law practicemanagement company MyCase. ” Already, LawPay’s integration within MyCase is live. .
Most often to case management software, billing and invoicing software, and practicemanagement software. Some of it is also going to non-legal specific tech, such as websites, hardware, and billing or accounting software. This Week In LegalTech: Exclusive Results Of A New Small-Firm Survey.
The law practicemanagement company MyCase this week introduced a public API for easier integration with third-party software, as well as two new payments features that more tightly integrate LawPay within the MyCase platform. MyCase says that certified consultants are available to assist customers with implementations.
These are among the findings of the 2024 Small & Mid-sized Law Firm Report , published today by the law practicemanagement company PracticePanther based on data collected during July and August 2023 from firms across the spectrum of practice areas. Of course, one way to address this is through electronicpayments.
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 Law Firms , a report published today by law practicemanagement company Clio.
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