How Does Legal Billing Software Impact Law Practice Management?

Published by Matthew Markham on May 01, 2020
law practice management

Law professionals are inherently driven individuals, with all the makings to be incredibly successful, says Doug Brown, Chief Learning Officer of Summit Success International. They often just need the right tools to help them achieve that success. Think of legal billing software as one of those tools.

Law Firm Practice Management Software provides an extensive spread of efficiency enhancing services to help any company better their back-end practices. In particular, legal billing software can help law professionals and their respective companies immensely. When deciding what kind of software to use for your firm, you want to ensure you are choosing a platform that properly caters to the busyness of the lives of law professionals and still satisfies the needs of the clients. You want to ensure that the software is best able to account for time and manage attorney contact, so in turn billing matters can be handled more smoothly. Legal billing software can increase a company’s billing compliance to 100%, as it makes it easier for lawyers to properly record their billable time. Furthermore, the platform can reduce any fiscal or temporal losses due to billing mistakes, as it provides guidelines for non-compliance issues, such as adding too many daily hours or replicating invoice line items.

law practice management

Firms that use legal billing software may also see an increase in attorney productivity visibility, as billing software gives a proxy for how productive attorneys are. Hand in hand with this comes a gamification of billing. Legal billing software offers color coding and email reporting of rankings by attorney - that is, associate rankings can be emailed out weekly by how much revenue their invoices are bringing for the law firm. This competition encourages engagement and hard work, further pushing employees to up their antee.

law practice management

Better decision management via data analytics is by far the most impressive benefit of utilizing legal billing software. The compilation of accounting and billing data, coupled with time and contact management data, both stored alongside invoice editing capabilities and customizable procedures, all makes for a robust platform that only serves to elevate the experience of employees and clients alike. All things considered, a firm only serves to benefit from the utilization of Law Firm Practice Management software, and there is no reason to forego legal billing software, as there are plenty of options for every company size and shape out there.

Authored by:

Matthew Markham

Matt is an experienced writer, having learned his approach from time spent at Brown University and Oxford University's journalism course. He is the COO of Bilr, a leading legal billing application, and has authored a number of #1 Google ranked articles that have featured in CNBC, Forbes and Entrepreneur. His background originated in investment banking at Morgan Stanley, where he had first had experience looking at the inefficiencies of law in business today.

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