Billable hours are the lifeblood of profitability for lawyers, but they represent only a fraction of a lawyer’s workday. According to the 2022 Legal Trends Report, attorneys spend a mere 2.6 hours out of an eight-hour workday on billable tasks. Efficiency is crucial for being able to meet billable targets, but there’s a fine line between maximizing productivity and the …
Read More »How to Vet Your Legal Payment Processing Provider
In today’s legal landscape, customer expectations are reaching new heights, fostering a worldwide digital revolution across man sectors. The legal realm is no exception to this transformative wave. Modern legal clients are seeking convenience and flexibility. They want a swift, hassle-free, and secure payment experience. Interestingly, their desires go beyond mere alternative payment methods—70% of clients are keen on flexible …
Read More »Safeguarding Against Commingling of Funds: Best Practices for Your Law Firm
As a law firm, it’s crucial to be aware of the significant risk posed by the commingling of funds and take proactive measures to prevent it. In this article, we will explore the basics of commingling funds, discuss its consequences, and provide effective strategies for avoiding inadvertent commingling. We’ll also talk about tools that can assist your modern law practice …
Read More »Seven Best Practices for Accounts Receivable Collections
By: Erika Segal, LawPay Brand Manager Earning money and collecting money are two very different things. It’s all too common for legal professionals to log billable hours, send out invoices to collect, and then fail to follow up and ensure that money is paid in full. The days get busy, things fall through the cracks, and money is left on …
Read More »The Importance and Value of Lead Disposition
By Vince Wingerter, CEO and founder of 4LegalLeads.com Johnny Mercer famously wrote, “You’ve got to accentuate the positive, eliminate the negative.” You may be asking – what does a songwriter from The Great American Songbook have to do with lead disposition and legal marketing? The answer is that Mr. Mercer unwittingly identified the two crucial actions regarding lead disposition. Emphasizing …
Read More »The Ultimate Guide to Legal Payments
Modern consumers demand convenience, security, and flexibility when paying for their goods and services, and like it or not; legal clients are no different. If your firm fails to provide the payment options that modern clients want, you risk falling short of client expectations. Poor client experience can snowball into a whole host of problems for your firm, including poor …
Read More »EXTRAORDINARY Customer Experiences
Firms today flourish or fail on customer service, and the pandemic brought the need for efficient customer service into sharp relief. Spurred on by consumers’ march to all-digital services, when in-person support all but disappeared for almost two years. Many firms have been looking for solutions to improve customer service efficiency while simultaneously handling massive spikes in digital-service demand. With …
Read More »Is it time for your law firm to do a trust tune-up?
This sponsored post comes from writer and former attorney Jennifer Anderson on behalf of InfoTrack. You can find more articles and resources to help build your legal career at InfoTrack’s website. The practice of law is highly dependent on trust. Clients need to trust their lawyers. Lawyers need to trust their clients. We all need to trust in judges, juries, …
Read More »Current Challenges, Future Opportunities: Highlights from the 2022 Legal Trends Report
As the legal industry’s most in-depth examination into the state of legal practice, the 2022 Legal Trends Report brings together essential insights into how law firms have adapted their services to meet the challenges of the past three years. In addition, this comprehensive report sheds light on the forces set to shape these services in the future. Now in its …
Read More »10 Tech Tools That Improve Law Firm Productivity and Profitability
We often hear lawyers say they went to law school to study law, not to learn how to run a firm. When faced with challenging daily tasks, such as managing invoices and reconciling trust account transactions, even the most brilliant legal minds struggle to build a successful practice. Fortunately, you don’t have to do it alone. In this article, we …
Read More »