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How to Choose the Right Tools to Modernize Your Law Firm in 2020

This is a guest post from CosmoLex. Visit them at ABA TECHSHOW in the Expo Hall at Booth #812

With the new year upon us, you’re probably thinking of ways you can make this year even better than the last for your firm. At this year’s ABA TECHSHOW, CosmoLex will be demonstrating all of the new features and upgrades we’ve added in the last year and how choosing the right solution for your firm will set you up for success in the year ahead.

Here is an overview of three core components to help you start modernizing your practice today:

1. Technology

These days technology is affordable, accessible, and relatively easy to implement. Not every tool out there will make sense for your firm, but the use of technology will no doubt have a positive impact on your overall efficiency – and in return, your profits. It’s true that the majority of technology is going to have some sort of cost associated with it, but you have to weigh the cost against the time it will free up and how client satisfaction will improve.

To decide what will be most beneficial to your firm, evaluate areas that could use improvement as well as those containing bottlenecks. CosmoLex Legal Practice Management puts individual legal matters at the heart of your practice by taking a matter-centric approach. This means every entry is connected to the appropriate client matter to make email, document, and billing management seamless, while always maintaining a solid, demonstrable paper trail for compliance and client disputes.

Here are a few additional features and functions that CosmoLex offers that could benefit your firm in the coming year:

  • Automation of processes, such as collections or billing
  • Use dashboards and data to make informed decisions
  • Improve the client experience with a secure client portal

2. The Cloud

If your firm hasn’t yet transitioned your practice management program to the cloud, this year is the time. To stay competitive, you need to be able to access files on the go, especially when you’re in court, and respond to clients quickly. With CosmoLex, you’ll be able to update calendars, record your billable time as it occurs, and see a full case history no matter where you are.

There’s also the added benefit of reduced costs and increased security and backups. Our solution offers high levels of data protection, including bank-grade encryption, and regular back-ups to eliminate the IT headache normally associated with data management. You can also expect frequently released updates to give you a top-of-the-line system at all times, unlike traditional programs that require you to purchase a new license for updated versions.

3. Integration

Every time you have to switch from one program to another, you’re not only losing valuable time, but also losing focus. Studies have shown that switching from program to program makes your brain work similarly to switching between tasks, significantly reducing productivity. To limit this effect, integrate your programs wherever possible.

These integrations, when constructive, will transfer data seamlessly from one program to the next. This means you only have to input data once versus multiple times, cutting back on errors and the time it takes to complete tasks. Even better than integration is using a tool like CosmoLex that comes with multiple task areas combined into one, ensuring that all data is going to show up correctly in each location.

For example, billing and accounting programs often require entering information into two programs. Even when integrated, the transfer of data sometimes only works one way or fails to send over all of the necessary information, sending pieces instead. When accounting, billing, and practice management are all part of one system, you don’t have to worry about duplicate data entry errors.

Start Planning

Improving your law firm is a never-ending venture. Prioritize the upgrades according to what your firm needs most at the moment, also keeping in mind long-term goals while planning. Modernizing your firm means a time investment to implement the changes, but the end result is increased productivity, more time for billable tasks and less stress.

Make sure to stop by Booth 812 to learn about how the CosmoLex legal practice management, billing, and accounting solution can revolutionize your practice in 2020.

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