Law Firm Billing: Best Practices to Increase Profitability

Law Firms Billing: Best Practices to Increase Profitability - CaseFox

The legal sector was hard hit by the pandemic. The idea of moving forward with something so unexpected does not sound positive. However, with the increasing demands of remote working, the idea of starting virtual firms started to take shape. The working environment at a lot of law firms has shifted towards remote working, encouraging employees to work from anywhere. 

In the legal sector, however, remote working was not profitable without the right tools. In order to earn money, it was important to use the right softwares and tools.

Legal billing is both the most important task and one that takes up a great deal of time for the lawyer.

Having the correct approach to start the billing from scratch is the need for every legal business. Whether a lawyer deals with criminal cases or is involved in employment cases, billable hours are important in every area of legal practice.

Investing in what’s worth for your business requires proper analyses before directly taking the final decision. This blog will guide you towards some finest practices that can make your legal department achieve the best by implementing a modern legal billing solution for your legal business.

Top best practices to achieve a profitable business

Legal professional incurring profits in the business
  • Bill on Time and Never Miss on with any Detail

Be consistent with your billing and never miss on any bills. Create a separate record of how many bills are generated and how many invoices are yet to be delivered. Give all the information under the bill and customize the invoice according to the need of the case and client. The clarity in your bill will allow clients to pay with no hesitation or confusion. Keep your bills informative and errorless and deliver them to respective clients on time. Bill client’s according to your requirements and set bills for either flat fees or on an hourly basis. 

  • Keep Track of your Time 

Both billable hours and nonbillable hours are really important for preparing invoices and receiving payments from the clients. No client wants to pay for something that’s not valuable for his case. Lawyers sometimes get underpaid because of the wrong calculation of billable hours. Have a clear target to track both billable and non-billable hours with the help of time and expense tracking software to make your billing look more real and acceptable. By doing this, your clients will get more satisfaction and will pay for your exact time invested in the particular case or matter. 

Legal professional earning profits by completing tasks on time.

  • Timely do Follow-ups on Unpaid Invoices

Noting down payments and having a check on the same is important for any law firm. Maintaining a smooth cash flow required proper monitoring of paid as well as unpaid invoices. Be connected with your clients through the entire billing process and take instant follow-ups for all the unpaid invoices separately. Call, mail or even text the client about the unpaid invoice update and manage a smooth workflow under your business. 

  • Automate your Billing Process

Creating thousands of bills with a click seems like an unbelievable statement. Making improvisation is never too costly for automated legal billing. With so many transformations going on, law firms are also shifting towards electronic billing to ease their billing process and attract more clients organically. Automated billing software for law firms has given lawyers a grip to work from anywhere with no time limit. 

  • Collaborate with Effective Tools

Modifications can be many, but the idea to improve billing needs proper study and analysis. Not just an automated solution is the key to success, but from time to time, up-gradation is important in every step. Get involved in making use of new features like LEDES billing, UTBMS codes, and many more to ease out your billing process more than it was before. Grab client attention through additional elements that aim at providing a client-centered output and boosting your firm’s productivity in less time. 

  • Offer Flexible Payment Plans 

Many times, clients cannot pay amounts in bulk and because of this reason, many law firms are having imbalances in their cash flow. The solution to this major issue is to increase the area of options for payment and allow clients to pay by both credit and debit cards. By allowing clients to pay through credit cards, you are making a step towards increasing the cash flow process by giving clients the opportunity to flexibly pay from anywhere with no time trouble. 

Professional paying digitally

Seamless law firm billing software

Reducing the risk of error depends on how much time you have invested in choosing the best solution for seamless legal billing. Not every lawyer can deliver high-quality bills to their clients, but some who can understand the growing market needs are delivering some top-notch outputs to their customers. 

CaseFox’s legal billing software is here to help every legal professional in boosting their billing process at the most affordable price. It’s hard to trust whether the software will be useful or not, but you don’t need to worry about this. With this software, get a free plan and explore all the features at just zero cost. Clear all your queries and be sure about the software.

A perfect law firm software can give you loads of advantages that will help you in growing your business from scratch.

  • Legal Billing Management
  • Document Management
  • Case Management
  • Legal Accounting
  • Online Payments
  • Timekeeping and Expense Tracking
  • Client Portal
  • Security 

See what CaseFox users have to say about the software

DARO P 

(Vice President)

There are a ton of amazing things I can say about CF, but to keep it short, their integration with multiple platforms is hands down handy and impressive, to say the least. Makes our jobs super simple working with clients that work with multiple platforms such as Microsoft, Google, Dropbox, PayPal, etc… The massive amount of features and functions of this software covers all of our needs plus some. It is very diverse and with all the features to add time and manage cases (mobile, tablet, web with 2 different UI’s, text service) our team billing and accuracy have improved by more than 15%. Which is awesome! Super simple as well…. wanted to throw that in there.

Kurt P 

(Principle)

It seems to do everything we need. Customer Support is top-notch. Quick, reliable, and very responsive if an issue or question arises. The Casefox team is always improving the product.

Tom K

(Accountant)

I like that CaseFox contains all of the features I would need for basic case management in their free offering. This gives you plenty of time to ensure it is the right fit for your practice before committing to the higher tiers.

Darell M 

(Private Investigator)

It is so easy to use. It doesn’t require weeks of study or taking a course to try to figure it out. I don’t have a lot of time for reading manuals and trying to figure things out. I needed something I could jump right into and this was it. I use it all day, every day.

Frequently Asked Questions

Conclusion

For running a law firm, the very first step is to manage its billing process. Not every legal firm achieves success in its operation, but few of them outshine others by implementing some small steps to professionalize billing. Whether it be client trust or receiving payments, everything comes from satisfied billing reports. No client will be ready to pay for wrong billable hours, but then how to make sure that every hour gets counted correctly? Tips and hacks play a major role in boosting your billing process to its best. Try implementing the above strategies and evaluate the last results. Go forward and change your billing process and make it a more comfortable space for your clients.

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