CosmoLex vs. PracticePanther
CosmoLex is a leading law practice management software solution, but how does it stack up against the competition? In this head-to-head comparison, we’ll examine CosmoLex and PracticePanther, two popular cloud-based programs.
PracticePanther is a law practice management software offering a range of features, but law firms using PracticePanther often need a separate accounting package like QuickBooks. This separation of billing and accounting systems can lead to inefficiencies, complex data syncing between programs, and compliance challenges.
CosmoLex is an integrated legal practice management, billing, and accounting system, eliminating the need for separate accounting software. This integration boosts accuracy, efficiency, and compliance.
Let’s look at the full scope of differences between CosmoLex and PracticePanther.
CosmoLex vs. PracticePanther : Features
When comparing CosmoLex and PracticePanther, it's essential to consider the range of features each platform offers. Both solutions provide a host of capabilities, including reporting, cloud access, document management, time tracking, payments, and billing.
CosmoLex's unique features, such as Money Finder, provide additional value by helping law firms prevent billable time leakage. With CosmoLex, law firms get everything they need in one login, for one price, with no separate QuickBooks required. This makes CosmoLex a comprehensive and efficient solution for law firms looking for a superior alternative to PracticePanther.
|
Features |
CosmoLex |
PracticePanther |
|---|---|---|
|
Reporting |
✔️ |
✔️ |
|
Cloud/remote access |
✔️ |
✔️ |
|
Document management |
✔️ |
✔️ |
|
Time tracking |
✔️ |
✔️ |
|
Payments |
✔️ |
✔️ |
|
Billing |
✔️ |
✔️ |
|
Money Finder |
✔️ |
✖️ |
|
No QuickBooks needed |
✔️ |
✖️ |
CosmoLex vs. PracticePanther : Reviews
User reviews offer a valuable perspective on the strengths and weaknesses of each platform.
As we examine the reviews for CosmoLex and PracticePanther, it's clear that both platforms are highly rated. However, CosmoLex stands out with higher ratings across a broader audience, indicating higher satisfaction among its users. This, combined with CosmoLex's unique features and integrated system, underscores its value as a comprehensive legal practice management solution, making it a compelling choice over PracticePanther.
|
Reviews |
CosmoLex |
MyCase |
|---|---|---|
|
Trustpilot |
4 out of 5 stars |
3 out of 5 stars |
|
Capterra |
4.7 out of 5 stars |
4.7 out of 5 stars |
|
G2 |
4.2 out of 5 stars |
4.4 out of 5 stars |
CosmoLex vs. PracticePanther : Pricing
|
Pricing |
CosmoLex |
PracticePanther |
|---|---|---|
|
Free trial |
10 Days |
7 Days |
|
Monthly plan |
$99 per user/month |
Starting at $59 per user/month |
|
Annual plan |
$89 per user/month |
Starting at $49 per user/month |
|
Maybe: add-on costs |
|
None |
CosmoLex vs. PracticePanther : Testimonials
CosmoLex vs. PracticePanther : Integrations
|
Integrations |
CosmoLex |
PracticePanther |
|---|---|---|
|
Outlook |
✔️ |
✔️ |
|
Gmail |
✔️ |
✔️ |
|
Apple Mail |
✔️ |
✖️ |
|
Dropbox |
✔️ |
✔️ |
|
Google Drive |
✔️ |
✔️ |
|
OneDrive |
✔️ |
✔️ |
|
NetDocuments |
✔️ |
✖️ |
|
Google Calendar |
✔️ |
✔️ |
|
Office 365 calendar |
✔️ |
✖️ |
|
Payments |
✔️ CosmoLexPay |
PantherPayments/Quickbooks |
|
Chrometa |
✔️ |
✖️ |
|
Unity |
✔️ |
✖️ |
CosmoLex vs. PracticePanther : Support
|
Support |
CosmoLex |
MyCase |
|---|---|---|
|
Live chat |
✔️ |
✔️ |
|
Phone support |
✔️ |
✔️ |
|
|
✔️ |
✔️ |
|
Availability |
Chat: M-F 9 a.m. - 9 p.m. ET
Phone: M-F 9 a.m. - 8 p.m. ET |
Chat: M-F 10 a.m. - 7 p.m. ET
Phone: M-F 9 a.m. - 8 p.m. ET |
CosmoLex is #1 Alternative to PracticePanther
Both CosmoLex and PracticePanther perform well across various categories. Still, CosmoLex shines in the area of quality of support, a critical aspect for any law firm seeking a smooth and efficient software experience. This, along with CosmoLex's unique features and integrated legal practice management, billing, and trust accounting system positions it as a superior choice for law firms seeking a comprehensive legal practice management solution.
Get started today when you sign up for a demo or a free trial (no credit card, no obligation!).
Frequently Asked Questions
CosmoLex is the #1 Alternative to PracticePanther® + QuickBooks®
PracticePanther is a cloud law practice management program popular in the US. Law firms on PracticePanther require a separate accounting package, such as QuickBooks.
Using a separate billing and accounting system is problematic for law firms, and often leads to duplicate data entry and the error-prone, complex data sync between the programs. Maintaining Bar Association compliance with a general accounting program like QuickBooks is also challenging.
With our integrated legal practice management, billing, and accounting, CosmoLex Cloud is the best alternative to Practice Panther. CosmoLex gives you everything you need, in one login, for one price, with no QuickBooks required.
Integrated Accounting - No QuickBooks Required.
CosmoLex Cloud has built-in trust and general accounting to eliminate the frustrations of using separate billing and accounting systems, such as:
- Duplicate data entry. This is a time-consuming and error-prone process for lawyers, who can’t afford to waste the resources on it.
- Poor Financial Reconciliations. Complex imports and exports that never seem to reconcile properly leave a lot of gaping holes and room for compliance violations in your books.
- Added Cost. The cost of paying for multiple software subscriptions adds up quickly. And add to that the cost of the required training to get up and running with those systems.
- Scattered Financial Data.With billing and accounting data scattered in different systems, you have no reliable way to get a comprehensive view of the productivity and profitability of staff, clients, or the firm as a whole.
Compliant Trust Accounting
CosmoLex also gives you comprehensive, compliant trust accounting that keeps you audit-ready all the time. If you use QuickBooks for trust accounting, you need to be aware of critical challenges, such as:
- QuickBooks allows client trust funds to be posted incorrectly to any
account—even to rent or payroll. - No built-in protection against overdrafts or commingling.
- Three-way reconciliation reports are not built-in. They need to be assembled manually from multiple reports, making reconciliations time-consuming and error-prone.
Compliant Client Financials
CosmoLex is designed for unique regulations pertaining to the practice of law—especially when it comes to the handling of money. Entering and tracking client-related financial transactions between Clio and QuickBooks is likely to result in struggles with actions like:
- Accurately tracking client advances
- Disbursement tracking, billing, and collections
- Paying invoices from trust funds
- Allocating payments to correct general ledger accounts
Comprehensive Financial Records
With one integrated billing, payments and accounting system, you’ll keep your finger on your firm’s financial pulse. A comprehensive set of billing, collection, payment, accounting, and staff productivity reports that are always up-to-date in real-time, allows you to always know exactly where the money is coming from and where it’s going.
Top Reasons Why You Can Trust CosmoLex