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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.
the percentage of in-house legal budgets spent on technology is expected to increase threefold by 2025 from 2020 levels as legal departments “increase spending on technology to reduce the dependency on outside counsel, address COVID-19, and satisfy a long-overdue need to modernize, digitize and automate legal work.”.
It began by acquiring Bill4Time in 2017, followed by PracticePanther in 2018, MerusCase in 2019, and Headnote in 2020. and with that, what we want to communicate with our rebrand is that our mission is to fundamentally shift the standard for legal technology,” Nettimi said during that interview. No Stranger to LegalTech.
The average law firm attorney spends just 56% of their time practicing law, down from 58% in 2020. It is interesting that the survey appears not to have asked about electronicpayments technology — a technology whose use appears to have soared in recent years, according to other surveys. 2020 Survey. . 2020 Survey. .
One of the most dynamic areas of legaltech right now is practice management, 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.
The 2022 Legal Industry Report was compiled by the electronicpayments company LawPay and the law practice management company MyCase, both of which are owned by AffiniPay , based on a survey of more than 2,300 legal professionals during August and September. Legal billing and time-tracking software, 42%.
One of the most dynamic areas of legaltech right now is practice management, 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.
In a deal that is sure to shake-up the already hyperactive market for law practice management software, AffiniPay , the parent company of the electronicpayments platform LawPay , has acquired the law practice management company MyCase.
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