A successful law practice is a profitable one. But there’s more to making money than simply earning it. After all, it doesn’t matter how many hours that lawyers in your firm bill if your firm isn’t getting paid for the work being performed for your clients.
That’s why streamlined, effective legal billing systems are so important. The more efficient your firm’s billing processes, the more quickly your firm will get paid. If things run smoothly, legal billing can be a painless – and fruitful – endeavor. But if your firm is relying on clunky, antiquated software and paper systems to send out invoices and collect overdue legal bills, it can be a time consuming waste of precious resources.
Which would you prefer? The former, no doubt. But efficient legal billing isn’t always as easy as it seems. So if you’re struggling with how to streamline your firm’s billing processes never fear! Here’s some helpful advice and a bunch of great resources that will get you off to a great start – and a profitable year!
eBook: Law Firm Finances: Billing and Invoicing Tips
You’ll learn in this free ebook that one of the most common challenges growing law firms face is getting paid. As explained in this guide, effective client communication – especially during the initial consultation – is the key to a smooth billing process. One of the best ways to achieve this is by using a secure technology solution with built-in legal billing tools that make it easy for your firm to efficiently bill clients and collect on more unpaid invoices. Download this free guide to learn about: 1) 10 billing issues you must cover during your consultation, 2) how to mitigate resistance to fees with clients, 3) proven ways to deal with overdue invoices, and 4) much more!
Webinar: Steps to Ensure You Capture All Billable Time
We all know it’s important to track billable time, but we don’t always follow through. After all, how often do you look back and wonder why your firm’s billable hours don’t reflect all of the long hours you’ve spent in the office? You’re not alone. We’ve all been there! The good news is that there are ways to address this problem and you’ll learn exactly how to do it in this webinar! In it, Vanst Law’s Litigation and Trial Partner, Jacqueline Vinaccia, will walk through proven ways to detect holes in your billing system. She’ll also share advice on developing patches for the recurring leaks in your firm’s billing process.
eBook: The Ultimate Guide to Legal Billing
Like it or not, revenue generation is central to the growth and longevity of your law firm. Yet even though you’re in business to make money, common billing inefficiencies could be preventing your firm from getting paid for all of the billable hours spent on your clients’ cases. That’s where this ebook comes in. It covers a range of topics, from the science of rate setting to time-tracking best practices. With this all-encompassing guide, you’ll be well on your way to evolving your firm’s billing practices so that your firm will be paid on time, every time. Download this FREE ebook to learn how to: 1) Establish a fee structure and schedule for your services, 2) never lose another billable hour by using contemporaneous time tracking, 3) get your invoices out the door every month, and 4) collect payment quicker, and in full.
Webinar: 5 Reasons Your Law Firm is Losing Money
If you continually struggle to increase your law firm’s profitability, rest assured, you’re not alone. The problem is that you’ve probably been accepting the status quo and hoping that doing the same things you’ve always done will increase your income. But based on your track record, that’s simply not going to happen. That’s where this webinar comes in. Lawyer and law practice management consultant, Jared D Correia, will share the 5 most common administrative blunders that prevent law firms from attaining their revenue goals, and will tell you exactly how to fix them.
Blog Post: 5 More Billing Tips
For even more billing tips, make sure to check out this blog post: 5 Tips to Streamline Your Firm’s Billing Cycle. It provides legal billing tips and ways to implement them that will help you to establish more efficient and client-friendly billing and invoicing processes at your law firm. Follow the recommendations in this post and you’ll find that the end result will be happier, more satisfied clients who promptly pay their bills.
Sign up for This Month’s Webinar
Finally, don’t forget to sign up for this month’s FREE webinar, Take Control of Your Firm’s Financial Performance, which will be held on February 15th at 10:00 AM PST / 1:00 PM EST. You’ll learn how to: 1) Add improved financial controls to your practice environment, 2) Derive new insights from reporting tools and KPIs, 3) Increase revenue by discerning financial trends, and 4) Create revenue projections that work. Don’t wait, reserve your spot today!