Running a small law firm with limited staff is a challenging game. Your attorneys not only have to offer exceptional legal service to clients but also manage administrative tasks and timekeeping. Onboarding clients and maintaining smooth communication with them is also a struggle for small law firms. You might also experience higher employee turnover and struggle to retain your star players. Fortunately, many legal tech software are available now that not only help small law firms overcome their challenges but also enable them to offer greater agility and responsiveness to client needs. Legal billing and accounting software is one of such examples that help small and midsize law firms become serious competitors in the legal industry.
While law firm billing software can improve your firm’s performance, however, to witness the actual benefit, you need to invest in the right technology. With so many billing software available in the market, it can be overwhelming to know what the best fit is for your firm. In this article, we will walk you through how to select the best legal billing software specifically for your practice.
Features and Functionalities
The first step in determining whether billing software is worth an investment is to calculate how much time your firm spends creating invoices, reviewing and sending bills, and processing payments. If billings take up several days at your law firm, legal billing software will be a good investment for you. After determining your investment purpose, make a list of all the features and functionality you will need in your legal billing software to serve that purpose. Ideally, you need billing software that can offer a range of features; including billable hours tracking, expense tracking, invoicing, payment storage, and payment planning.
Some legal tech software vendors such as Lawsyst offer fully integrated legal billing and practice management software that go beyond billing and invoicing. This type of software contains a plethora of useful features such as CRM and lead management for easy onboarding, court bundles for document management, and task management system for improved collaboration. Depending on your law firm’s needs, you can choose between a standalone legal billing software or a practice management software that includes full case management features.
Ease of Use
Ease of use is another important variable that you must while choosing legal billing software for your law firm. Some software solutions are more intuitive than others are, so make sure you choose the one that offers greater ease of use.
Cybersecurity
With the rise of cybercrimes and data breaches, robust data security is essential for every firm. To protect your clients and firm’s data from cyber-security threats, you need to invest in safe cloud software, such as Lawsyst.
In the past, big law firms were leading the industry with their greater access to human and tech resources. Now this resource gap is diminishing due to readily available cost-effective technology solutions such as Lawsyst. So, level the playing field for your firm by investing in fully integrated legal billing and practice management software.
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