CosmoLex will introduce new Accounts Payable functions at the ABA Techshow 2017 in Chicago
MONMOUTH JUNCTION, NJ – March 14, 2017 – CosmoLex, a leading cloud-based, law practice management software provider, will be in attendance at this year’s ABA TECHSHOW 2017, taking place March 15-18 in Chicago. The conference will bring lawyers and other legal professionals together to learn about the most useful and practical technologies available across the industry.
The CosmoLex team will be educating the conference’s attendees on some of the practice management system’s newest features centered around the new accounts payable module and automatic bank data feeds.
“It’s an honor to have the audience of all the attorneys, legal professionals, and legal technology pioneers that the ABA TECHSHOW brings together,” said Rick Kabra, CEO of CosmoLex. “We consider ourselves leaders in the legal technology space, and think that our latest set of new features further solidify our position as such.”
CosmoLex will be providing ABA TECHSHOW attendees with a sneak peek of their soon-to-be-released accounts payable module.
CosmoLex’s accounts payable module will address multiple issues associated with vendor bills including recouping client costs, proper allocation of vendor bills to the appropriate cases, and post-settlement lien-claims disbursements for personal injury firms.
“Accounts payable is much like any other aspect of legal accounting, there are many requirements and regulations that are unique to law firms,” said Kabra. “As we do with all of our product enhancements, we have designed this module with these unique needs in mind.”
As an example, included in CosmoLex’s accounts payable module is the ability to track third-party lien claims. For personal injury cases, medical and insurance bills received throughout a case may now be tracked to ensure proper disbursements upon settlement. This groundbreaking third-party tracking solves a legal-specific challenge all within the CosmoLex application.
In addition to CosmoLex’s new accounts payable module, new features from their most recent release will be on display at ABA TECHSHOW. The latest release of CosmoLex now allows users to automatically retrieve bank transactions, including credit card accounts, from more than 2,000 financial institutions. Client firms who implement the new feature will be able to automate the daily bank reconciliation process.
“For far too long financial management has been a thorn in the side of small practices and solo attorneys,” said Kabra. “The addition of automatic bank data feeds and our upcoming accounts payable functionality to our already robust practice management system gives lawyers a true one-stop shop to manage their entire firm and the ability to compete with larger firms.”
While the ability to import bank data feeds is already in place, the accounts payable functionality is scheduled to be released shortly after the conference comes to an end.
Attendees of ABA TECHSHOW 2017 can learn more about these new features and the rest of CosmoLex’s offering at booth 314 & 316. For those interested in attending the conference, more information can be found at www.techshow.com.
For any media inquiries please contact Joshua Goldberg at jgoldberg@CosmoLex.com