The essential lawyer billing software for a law firm
Lawyer billing software is a healthy firm’s best friend.
As we all know, lawyers don’t live on love and fresh water. And without billing, no fees. So why on earth is this task seen as the bête noire in their to-do list?
Probably because the time spent on it takes away from more essential tasks: case processing, client meetings or the firm’s growth strategy.
Yes, but… Making money “physically” is part of the life of any firm that wants to survive and flourish. Of course, not all firms have a dedicated accounting department and the smallest of them have to do everything themselves, in addition to the consulting work.
However, this step is no less essential. So we might as well roll up our sleeves and find the tool that will free them from this repetitive work.
Invoicing software for lawyers or how to save time
The process of invoicing a client is a bit like a fighter’s journey: fill in the required information, calculate the fees in HT and TTC, send the invoice, monitor the collection, follow up on unpaid invoices, transfer the whole thing to the accountant. And all this, for each client that the land has known.
So why not take advantage of the benefits of technology and innovation? Indeed, a simple software can pre-fill all the mandatory data of the invoice. Above all, it takes the place of humans for the daunting tasks of calculation and editing. All this in just a few clicks on your phone, wherever you are geographically.
In addition, the system automatically synchronizes itself with the features that follow the files instantly. Is a folder closed? This systematically triggers invoicing. Goodbye to the mental burden of accounting!
Editing invoices quickly: the promise of lawyer billing software
Each to his trade. And employees have better things to do than calculate additions or percentages.
Digitization has the ability to produce a number of invoices per minute that a fast human typist would be unable to produce. A lawyer’s invoicing software industrializes the editing of invoices and exports the data to any accounting tool.
In addition to saving time, readability is also very clear thanks to the centralization of all the essential information. A dashboard summarizes the list of clients to be invoiced, the price conditions negotiated with them and the payment history.
Stop losing money and manage your firm’s cash flow in real time.
Firms, like any business, are facing a phenomenon that is killing cash. Yes, we are talking about unpaid bills, which represent an average of 30% of lost earnings. However, cash flow is the sinews of war, especially in this period when the digitalization of law is creating competitors who are looking at the lawyers’ market (not to mention the gloom associated with COVID).
Invoicing is already a thankless task. But sending reminders and follow-up are even more so. A lawyer billing software will take care of all these time-consuming tasks. The gain of the operation? 30% on average more in the cab’s turnover.
This tool gives the partners the possibility to see the cash flow situation live. And therefore to identify lucrative market shares and take the appropriate actions for the growth of the firm thanks to the time saved on invoicing.