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The pandemic has made it more essential than ever before for lawfirms to accept electronicpayments. Clients who now pay everything else online have no appetite for lawyers who require paper payments. Plus, lawfirms that accept e-payments get paid faster and increase their collections, studies suggest.
When it comes to payments, is your firm giving clients the flexibility they desire and deserve? Electronicpayments are essential if you want to provide an excellent client experience while increasing your firm’s efficiency and revenue. What are electronicpayments? Scheduled payments.
When it comes to the payment for legal services that you offer, is your lawfirm giving the flexibility your clients want or deserve? Process of billing and payment collection is not anyone’s favorite part. But they are crucial for the lawfirm. What are ElectronicPayments?
An ABA study found more than 60% of lawfirms still use paper checks as their main payment method. Legal industry is undergoing a digital transformation, within which electronicpayment processing is a driving concern. Select a processor that is designed to meet the needs of lawfirms and is IOLTA-compliant.
As the most comprehensive analysis of the legal industry, the Legal Trends Report consolidates vital information on lawfirm performance while illuminating the influential factors driving changes in legal practice. Were thrilled to announce the recent release of the 2025 Legal Trends for Mid-Sized LawFirms report.
It’s also an important metric for lawfirm owners to track —especially if you want to grow your firm and improve your profitability. But how do you know if your lawfirm’s revenue is enough to grow and scale your business? And how does your firm’s revenue stack up against the average lawfirm revenue?
Abacus Payment Exchange (APX) is a proprietary tool that has been built from the ground up and engineered exclusively for lawfirms. If queried, most lawfirms would point to March of 2020 as the point in time that everything changed. Balance Forward: Introducing Abacus Payment Exchange (APX).
And it’s only natural to assume that buying whatever project management software is popular at other firms you admire might help you meet that goal. . You might find this information shocking coming from the company that created the first online legal billing and law practice management software… . Electronicpayments .
Lawfirms of all sizes are feeling pressure to meet client demand for both tailored services and greater efficiencies in this rapidly changing industry. Must lawfirms keep pace with their clients’ technology efforts? Increasing law practice specialization. According to Gartner Inc., Trends to Watch in 2022.
Subscribers to Clio Manage track billable events, send invoices, receive electronicpayments, and track trust account activities. But seeing a complete picture of the firm’s financial health required integration with either QuickBooks or Xero. But now that has changed. Learn more about Clio Accounting by visiting Clio’s website.
In fact, during 2022’s “Great Resignation,” a third of lawyers who quit their jobs did so to start their own solo practices, according to Legal Trends for Solo LawFirms , a report published today by law practice management company Clio. One clear takeaway is that there are both good and bad aspects to solo practice.
” Integrated Payments. While Clio users already could accept electronicpayments through third-party companies such as LawPay, the new Clio Payments is a native solution fully integrated into the Clio platform, which makes the process of accepting and tracking payments far more seamless.
In the latest episode of our video series How It Works , we learn about LawPay , the electronicpayments solution developed specifically to help lawfirms streamline billings and collections by providing a simple, secure way for legal clients to pay their bills online. How to set up scheduled payments for clients.
Poor cash flow is a problem that no lawfirm wants to have. For a lawfirm, client portals make it more likely that clients will pay their bills on time. Lawfirms who accept online payments typically get paid faster, and those payments are easier to track for all parties.
Are you a busy lawyer struggling to balance the demands of legal practice with the complexities of managing your lawfirm’s finances? Leaving little time to focus on the critical aspect of running a successful lawfirm — financial management. If so, you’re not alone.
Running a large lawfirm is a balancing act with many moving pieces—especially when it comes to lawfirm billing. Legal billing software streamlines many essential billing tasks for lawfirms—like tracking billable hours and expenses, creating invoices, and managing payment collections. It’s scalable.
An eCheck—also known as an electronic check—is a digital version of a paper check. It contains all the same information as a traditional check, such as the account number and payment amount. The difference is that the data is captured and transmitted electronically from a bank account to the merchant’s bank account.
With this in mind, you may be wondering if offering payment options like ACH payments could benefit your business, and your clients. As a secure electronicpayment method, the ability to accept ACH payments quickly and easily allows you to give your clients a seamless payment experience while helping your lawfirm get paid faster.
Users can create sites by filling out their information on a form and selecting a design. Once launched, the sites connect to other tools within Clio to enable online appointment scheduling, client intake, electronicpayments and Google Analytics. Enhancements to Payments and Billing. Effective Oct.
It has been a notable year for the practice management company MyCase , one in which it made four notable acquisitions of other practice management products, and then itself was acquired by AffiniPay , the parent company of the electronicpayments platform LawPay.
Today, in its first international expansion of the technology, Clio released Clio Payments to the Canadian legal market, enabling its customers there to offer their clients electronicpayment options, including flexible payment schedules. “Financial matters bear a heavy burden on firm operations, time and revenue.
The idea still might feel foreign to those who run professional practices, like solo or small lawfirms. Although it might feel comfortable to stick with the paper check or walk-in-to-pay system, there are numerous benefits to accepting e-payments. What Are E-Payments? How Can E-Payments Help Your LawFirm?
Is your lawfirm still accepting payments from clients through traditional methods? Are you looking for different lawyer payment methods? These days, clients are looking for convenience, security, and flexibility while making payments for legal services. Are LawFirms Allowed To Accept Online Payments?
Lawfirms that fail to integrate this technology risk falling behind in a competitive market. They may face challenges such as slower payment processing times, increased administrative work, and potential loss of clients to more tech-savvy competitors. It’s a convenient way to consolidate and manage paymentinformation.
In fact, during 2022’s “Great Resignation,” a third of lawyers who quit their jobs did so to start their own solo practices, according to Legal Trends for Solo LawFirms , a report published today by law practice management company Clio. One clear takeaway is that there are both good and bad aspects to solo practice.
” Integrated Payments. While Clio users already could accept electronicpayments through third-party companies such as LawPay, the new Clio Payments is a native solution fully integrated into the Clio platform, which makes the process of accepting and tracking payments far more seamless.
. – Jodi Donato, Donato Law In the fast-paced environment of law, staying on top of billing best practices isn’t just beneficial; it’s essential for building trust with your clients, improving your realization rate and cash flow, and growing your practice.
As the legal industry’s most in-depth examination into the state of legal practice, the 2023 Legal Trends Report brings together critical insights on the biggest challenges facing modern lawfirms. Today, the average lawyer has a heavier caseload and earns more for their firm than in previous years. Total lockup.
. – Dan Lear and Bob Ambrogi, series editors Dan Lear, Head of Marketing and Partnerships at Gravity Legal Dan Lear is head of marketing and partnerships at Gravity Legal, an electronicpayments and money management firm built specifically for lawyers and lawfirms. Sharing information accelerates innovation.
. – Dan Lear and Bob Ambrogi, series editors Dan Lear, Head of Marketing and Partnerships at Gravity Legal Dan Lear is head of marketing and partnerships at Gravity Legal, an electronicpayments and money management firm built specifically for lawyers and lawfirms. Sharing information accelerates innovation.
According to our Legal Trend Report , this can be attributed to some crucial shortcomings in user experience: only 30% of potential clients are able to find the information they need to retain legal services and only 10% are able to find cost information. Whats causing this gap? Seems daunting?
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