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South African President Cyril Ramaphosa signed a controversial bill into law Thursday that authorizes the government to expropriate private land without compensation in certain cases. The law, the product of a five-year project, repeals the predemocractic-era Expropriation Act of 1975.
For law firms, streamlined, effective legal billing software is incredibly important. Enter modern legal billing software. It ensures that your firm’s legal billing processes are efficient and accurate by reducing the steps needed to invoice clients and accept online payments. Hurdle 3: Payment Inaccessibility.
With vast amounts of data generated from case management, billing, and client communications, firms are shifting away from intuition-based decision-making and making data-driven decisions to improve their operations. The ability to harness data analytics is rapidly becoming a key differentiator for law firms.
With practice management software they can have a birds eye view of all active cases, upcoming deadlines and pending tasks. There are three main elements that can make or break a bankruptcy case: paperwork, timelines and communication. Its a paper trail that can quickly get out of control without a system in place.
Whether you work for a large firm or you run your own private practice, getting your legal billing right is absolutely crucial. After all, your business can’t thrive without steady payments. Keep this list handy to ensure your bills are as client-friendly as possible. 4 Legal Billing Dos. ” 3. .”
Our friends at MyCase recently surveyed over 2,800 legal professionals and covered a wide range of technologies that impact law firms, including artificial intelligence (AI) and generative AI. The results are detailed in their 2025 Legal Industry Report, which details the technology journeys of thousands of respondents.
Inaccurate invoicing: Without a precise record of time, firms may underbillor overbillleading to disputes and delayed payments. For example, if a lawyer bills $300 per hour and misses just 15 minutes of billable time per day, thats $18,750 in lost revenue per year (based on 250 workdays). The solution?
This true standalone practice management experience by MyCase focuses on the modern law firm experience with lead intake, collaboration and payments. In particular, law firms have focused on three areas for updating old school systems: 1) Intake, 2) Collaboration, and 3) Payment models.
For example, firms using a manual search-and-replace process to create new documents can quickly realize productivity gains with document automation while avoiding common editing errors. Law firms of all sizes are feeling pressure to meet client demand for both tailored services and greater efficiencies in this rapidly changing industry.
Tasks like handling the lengthy form filling process, communicating effectively with clients, and accepting payment for all that hard work can be difficult when not managed correctly. Now, with the launch of our latest feature, LollyPayments , you can also handle the entire payments process without ever leaving the LollyLaw application.
These comprehensive platforms centralize key processes, dramatically improving productivity and organization across all aspects of legal practice. As we step into 2025, we’ll continue to experience technological evolution at an unprecedented pace that will reshape how law firms operate. But the impact of AI goes beyond just speed.
Rocket Matter helps law firms be more productive than ever while managing their high volume of matters and monthly billing with ease. As mid-sized and large law firms transition to the cloud, they’re seeking more sophisticated billing options than what currently exists in many cloud-based legal billing applications.
Inefficiency can delay payments and cause billing disputes that disrupt timelines and impact cash flow. The right technology can automate processes, enhance output, and ensure that a legal company remains relevant in the market. This places huge demands on lawyers and their teams, making the old ways of working simply unsustainable.
Abacus Payment Exchange (APX) is a proprietary tool that has been built from the ground up and engineered exclusively for law firms. And, lawyers who talk about how their clients actually prefer cash or check payments create a self-fulfilling prophecy: because those are likely the only payment options they offer.
But that doesn’t tell the whole story because among the biggest firms — the ones hoovering up nearly half the legal spend — the median partner billed at a rate 61 percent higher than the median partner in the next tier of firms. And how have the firms responded? Partner rates rose another 5.1 And the big firms know it.
Lawyers generally work really hard for their clients, to turn around work product. That’s largely because, while attorneys have been able to build out most of the payment process, the last part – you know, the part where the law firm actually gets paid – is still most ly entirely dependent on the client. And then, they wait.
Block billing is a billing practice where attorneys group multiple tasks into a single time entry instead of separately detailing each task. It can lead to confusion and client disputes over charges, as it lacks the transparency that detailed billing provides. What Is Block Billing?
Understanding the four stages of the buyer journey can point to ways to improve your marketing, practice management and payment systems. What makes online shopping so pervasive is its accessibility and speed — search, click and your product is on its way, seamlessly. It’s no secret that we live on the internet these days.
That stress can quickly get in the way of your firms financial healthbut theres no time like the end of the year to evaluate your billing and start making improvements. If you dont know where to start, here are a few tips for tidying up your billing and conducting a financial review. Start accepting payments online!
Many partners at law firms do everything they can to increase the number of hours billed by associates since this has a substantial impact on the financial health of a firm.Unless law firms have explicit incentive systems in place, partners do not have many tools at their disposal that they can use to convince associates to bill more hours.At
A centralized system simplifies every aspect of your insurance defense cases – keeping operations efficient, reducing compliance headaches, and letting your firm focus on what really matters: delivering value. Managing insurance defense cases shouldnt feel like a never-ending scavenger hunt. The end result? No more scavenger hunts.
The goal isnt just to minimize disruptionits to set each firm up for long-term success while maintaining client trust and operational continuity. Navigating a law firm split requires careful planning, clear communication, and the right tools to ensure a smooth transition. Transparency is key to keeping them engaged and reassured.
What if there was a way to streamline your practice, boost productivity, and enhance client satisfaction – all while reducing stress and improving work-life balance? But what if there was a way to streamline your practice, boost productivity, and enhance client satisfaction – all while reducing stress and improving work-life balance ?
More Time and Billing Features Within Smokeball. Smokeball was founded in 2010 and has been adding useful features for law firms ever since. And, with that cash infusion in its back pocket, Smokeball is building on an already impressive foundation, which will be addressed below.
Where will you focus your technology spending in the next months? Our experts have advice. During the past two years, the pace of tech adoption quickened as firms moved to automate their practices for remote work and virtual practice. We wondered what tools or initiatives small firms might open their wallets for this coming year.
The law practice management company MyCase this week introduced a public API for easier integration with third-party software, as well as two new payments features that more tightly integrate LawPay within the MyCase platform. MyCase says that certified consultants are available to assist customers with implementations.
Yes, increased billing rates were the not-so-secret driver behind this revenue surge success. percent more productivity per lawyer. Firms are finally getting paid faster, thanks to a mix of better electronic billing, tighter payment terms, and a shift towards transactional work (which pays out quicker than drawn-out litigation).
How can an attorney increase their overall collection rate, decrease outstanding accounts receivable and substantially reduce time spent on billing? BNPL can be a game-changer for your firm, and adding it as one of your accepted payment methods is about to get even easier with ClientCredit, a new offering from LawPay.
Legal work is complicated, and finding time to breathe—let alone be productive—can seem overwhelming. Legal work is complicated, and finding time to breathe—let alone be productive—can seem overwhelming. Let’s look at five productivity hacks you can start implementing immediately. But it doesn’t have to be.
McElroy at Procter & Gamble circulated a memo that envisioned an employee who would be responsible for every facet of brand development — everything from tracking sales to advertising, promotion and product development. Those predictions have fallen flat across the legal sector. An Accidental Project Manager.
It centralizes matter management, legal billing, trust accounting, and document automation into one intuitive system. Legal billing and time tracking Managing legal billing and time tracking can be a significant drain on a law firms resources tasks that reliable legal software should be able to simplify.
As a lawyer, your payment options matter. Payment processing is challenging for law firmsbut worth taking on As of 2023, 4 1% of firms offer online or website-based billpayment and invoicing options (a 34% increase since 2019). Lets talk about return on investment (ROI) in law firms. Your workload matters, too.
These ground-shaking transformations raise critical questions about the future of law firms : How can the use of AI improve lawyers' productivity while upholding ethical standards? Emerging technologies are transforming every corner of the business world, and the legal industry is no exception. They've become a standard.
That is the premise behind Oddr , a legal tech startup that recently launched what it says is the legal industry’s first AI-powered invoice to cash platform, centralizing law firm billing, collections, payments and reconciliation in a single product. We appreciate their support and hope you will check them out.
Here’s how it stands out and scales with your firm’s growth: Legal-specific workflows : Unlike generic CRMs, Rocket Matter includes features tailored to legal practice, such as matter management, billing integration, and trust accounting. Law firm growth happens when you bring in new business and nurture your current client base.
Every law firm wants to be more competitive, productive, and consistent in how they operate. Timekeeping To bill clients for your work, you must track your time. Without a record of what tasks were done for each case, and how long each task took, it would be impossible to accurately bill clients.
This gives your firm a clear picture of its accounts, billing, budgets, client payments, etc. Integrated accounting means combining separate legal accounting and client processes into a single application to improve productivity and accuracy. Integrated accounting software is a vital tool for modern law practices.
Law firm productivity relates to a firm’s overall efficiency, a key factor in profitability. A productive law firm uses minimal resources to complete essential tasks accurately. Essential tasks include case-related actions and required administrative duties, such as billing. Why Do Law Firms Need to Improve Productivity?
For law firms, streamlined, effective legal billing software is incredibly important, since the more efficient your firm’s billing processes are, the more quickly your firm will get paid. When legal billing processes run smoothly, invoicing legal clients can be a painless – and fruitful – endeavor.
Paradigm — the parent company to practice management platforms PracticePanther , Bill4Time and MerusCase and payments platform Headnote — is being acquired by Francisco Partners , a major investment firm that specializes in investments in technology businesses. The transaction is slated to be completed before the end of the year.
Now there is another stealth deal to report, this time involving the acquisition of Tabs3 Software , which is one of the oldest practice management products in the legal market, having been founded in 1979, and which also owns the cloud-based practice management platform CosmoLex , which it acquired in 2018. and Canada.
PracticePanther offers features in case management, time tracking, billing, client intake, payment processing, calendaring, e-signatures, and more, all designed to empower lawyers to automate their practices. Taking payments internally. To feature your product in How It Works , contact us here. Workflow automations.
For instance, per the 2024 Legal Industry Report, 75% of respondents say their firm has adopted general-use AI tools like ChatGPT to increase productivity. Whether you want to engage more clients, encourage productivity, or increase efficiency, consider the lawyer tools at your disposal.
Well cover specific circumstances under which Form 1099 is required, such as a 1099 for attorney fees or payments to independent contractors, the differences between Form 1099-MISC and Form 1099-NEC, and common IRS Form 1099 errors and how to avoid them. This includes payments to attorneys, regardless of their business structure (e.g.,
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