There are a number of challenges law firms face when it comes to billing for the services they provide. Billing discrepancies, inaccurate data, and delays in payments can put a strain on the warm relationship you hope to maintain with your client. So here we outline some tips to help you become more efficient at law firm billing.
1. Get Mobile Friendly
It’s likely that your employees are with their phones for most of the day, so it makes sense for them to track their hours, and to bill, invoice and manage accounts from their personal devices. By using mobile-friendly software, you’re likely to prevent losses on billable hours through missed time-tracking. Your employee is more likely to record their entries in real time if the can use their phone to do so.
2. Harness Technology
Advanced cloud-based legal case management software solutions have a great role to play when it comes to being more efficient with your billing practices. Affordable and easy to use, you can now invest in an error-proof solution that bills and collects on your behalf. As an example, LATERAL has its own built-in time tracking tool, as well as integration with a legal time tracking partner, eBility. Because the legal case management software is cloud-based, time can be tracked and recorded at any time and anywhere. What’s more, reports and billing statements are easily generated by user, task type, and / or with a date range. The best legal case management software also helps its users to organise their cases and matters, and tracks expenses too. The whole process runs more efficiently.
3. Billing is Marketing
When you’re sending a bill to a client you should treat the exercise as an opportunity for marketing. Be careful how you describe your time and the tasks you’re billing for. Be as specific and clear as possible. Also make sure you set expectations up front. Include your finance department in the early stages of finalising the agreement and predicted costs. If everyone can get on the same page in terms of the scope of the work to be carried out, then when the invoice arrives the client knows what to expect. Client satisfaction is improved and you’re more likely to receive a prompt payment.
4. Focus on Security
It’s important that all your billing data is accessible, but it also has to be secure. Your data should be protected and automatically backed up in a completely secure private cloud. You can have the most efficient and effective billing system in the world, but if your data isn’t safe, your efficiency levels are irrelevant.
“We have partnered with the most secure data storage in the UK - trusted by the Ministry of Justice and the official hosting company of the Crown. We also offer nightly back-up service ensuring your data is safe.”
Ian McManus – LATERAL, Managing Director
Overall, adopting leading case management software is the very best way to help you bill efficiently and improve your cash flow. Book a demo with LATERAL, to see how you can collect on the revenue you’re due.