Legal billing software is rapidly replacing outdated time collection and invoicing processes that utilize paper, spreadsheets and PDFs. These applications serve as increased insurance that lawyers and firms alike are properly collecting payment for their time and effort. Legal billing software applications, such as Bilr, Clio or Smokeball, utilize time tracking, invoicing, and accounting capabilities to integrate case management and bookkeeping in order to paint a more full-fledged picture of who’s working what hours.
Despite the existence of such cutting edge software, many law firms find a significant gap between hours worked and the revenue being collected for that work. They key to minimizing this gap? Helping the firm efficiently and effectively capture the billable time.
This is accomplished in a variety of ways, the first being creating ease of time tracking. Using time tracking software simplifies and speeds up the process of bothersome time tracking, essentially rendering it as instinctual as clocking in and clocking out. Minimal hassle means an increase in willingness to track time accurately. A great example of making this process easier is the incorporation of speech-to-text, otherwise known as “voice recognition” or natural language processing, to allow lawyers to dictate their billable hours.
Simplified invoice creation and distribution also plays a role in better capturing billable time. The majority of legal billing headaches develop from the complications that go along creating and distributing invoices, usually all by the end of the month, and usually at the expense of a smooth work flow. Legal billing software can make end of month invoicing dread disappear with a wide range of technologies, such as batch billing, online invoicing, and a number of other technologies.
These technological advancements also expand the options a firm has for payment collection. With all the developments in money transferring - Venmo, Paypal, LayPay, bank-to-bank e-transfers, etc. - legal consumers consequently expect a variety of payment options to be available to them. Utilizing legal billing software can help ensure that your firm is receiving full, prompt payments by providing clients a variety of ways to immediately pay their bills.
Legal e-billing applications only serve to further modernize the billing process. With mobile and desktop formats that are accessible across all operating systems, tracking your time and invoicing clients just became a breeze. Why do the heavy lifting when AI can do it for you?