Today, lawyers spend six hours a day on non-billable work. As a law firm professional, you likely witness this every day. Between calculating bills, sending individual invoices, and client follow-up, payment collection efforts take tremendous time and energy.
Many law firms use more than one tool to collect their payments. For example, a
What type of attorney billing increments does your law firm use when billing clients?
Billing is a crucial part of legal workflows, since every activity related to client matters must be accounted for and billed to ensure firms get paid for their services. Accurate time tracking also allows you to identify profitable tasks versus nonprofitable
A positive client experience extends beyond relationships—it’s about making legal processes, from client intake to case closing, easier and more manageable for the people you serve. One way your law firm can improve the client experience is by offering flexible, inclusive lawyer payment methods.
Due to complex ethical concerns, many law firms hesitate to adopt
When you run a law firm, you are responsible for far more than just winning cases or representing your clients—you also need to manage your law firm’s day-to-day operations.
Legal practice management is a complex but necessary part of your business. Unfortunately, law firms often struggle with it. While you may know your area of
Law firm partnerships can be as complicated as the cases they handle. But, what does it mean to be a partner in a law firm? Well, partnerships are the lifeblood of law firms, and they are how lawyers run the firm, make decisions, and share profits.
Understanding the different partnership types and their roles in
Let’s talk about return on investment (ROI) in law firms.
As a lawyer, your payment options matter. Your workload matters, too. Legal professionals wear many hats, but taking a few off would make your load far lighter.
CosmoLexPay has you covered with task organization, easy reporting, fair prices, and quick funding. It was designed to
Small to medium-sized law firms can’t survive if they don’t find ways to be agile, more productive, and deliver excellent service—all while reducing costs.
For many firms, outdated processes and inefficient workflows slow down day-to-day law firm operations and take time away from high-value client work.
There’s a need to optimize legal operations without sacrificing
Client retention is an essential aspect of running a legal practice. Think of it like this: Your firm has no problem bringing clients in, but it needs help keeping them. The bright side is that you’re still getting clients, right? Right…
The problem is, when your clients don’t return, you have to spend a lot
Integrated accounting software is a vital tool for modern law practices. This software understands how law firms work and can make daily accounting workflows and overall client and financial management more efficient.
Legal-specific accounting helps safeguard your firm against common mistakes, and in an integrated system, data can flow seamlessly across all your financial activities.
The rise of online payment solutions has impacted nearly every industry, shaping consumer expectations for everything from grocery shopping to high-level business operations.
People aren’t just accustomed to digital payments—they actively seek them.
While law firms have historically been slower to adopt new technology solutions, the reality is that law firms must keep up with
Growing your practice is a worthy goal, but you need a plan of attack and a consistent approach to achieve it. Business development is an ongoing process, so your law firm may hit a plateau if you’re not continually assessing its position, strategies, and opportunities. With the right tactics, you can build the foundation for
A well-designed law firm website isn’t just nice to have—it’s necessary for generating business.
But with so many law firms competing for visibility, your website needs to persuasively communicate your firm’s unique value proposition, while also making it easy for potential clients to learn more about your services, connect with your team, and convert
Financial management for law firms covers a variety of activities that keep a legal practice running, from day-to-day business activities to high-level financial analyses. It also takes into account the legal requirements attorneys must follow to protect themselves and their clients.
Successfully managing finances directly impacts a firm’s ability to practice law. Your firm will
Nearly every lawyer will be responsible for managing client funds at some point, and knowing how correctly protects client relationships and helps avoid legal issues.
When holding money in a trust account, the number one thing to remember is that it doesn’t belong to the attorney or the firm. Instead, the attorney holds the money
Billing inefficiencies cost law firms more than time—they can erode client trust. Untracked billable hours, delayed invoices, and slow payments frustrate clients, undermining their confidence in your firm.
But what if you could turn cumbersome processes into easy-to-manage workflows that result in happier, more satisfied clients?
Read on for strategies that will help you get
Digital transformation has a significant influence on the world of law. Legal professionals are increasingly tapping into various technologies to work smarter and automate accounting functions.
AI and automation are potent forces in the future of accounting that can help firms reduce overhead and allow lawyers and legal professionals to focus more on client service.