Whether you’re a new firm just setting out or an established practice, it’s important for legal professionals to regularly assess their processes and practices. Regular system checks make it easier to stay ahead of issues and deliver a high standard of service. Evaluating processes often focuses on operational issues, like marketing activities or billing workflows. Depending on what work you … Read More
Tech Tip #124- Time management Functions Your Practice Management System Should Include
Time management for lawyers can be a daunting task. A daunting task they don’t always have time for. Unfortunately, without the proper solutions in place, poor time management can result in unbilled clients, missed meetings, and much more for your firm. Utilize practice management software that has time management features in place, like task & event tagging by matter, shared … Read More
Third Party Lien Claims for Attorneys
In many situations, part of being an attorney is being the fiduciary for your clients. This means you are responsible for making sure that all financial activity concerning the case being worked on is handled appropriately. In personal injury cases, workers compensation cases, family law, and bankruptcy cases, among others, it is common to have 3rd party lien claims. In … Read More
Tech Tip #123-Today’s Legal Accounting Technology Calls For Bank Grade Encryption
Thankfully we live in a day and age where there is a wide range of technology available to attorneys and their law firms. This technology can improve productivity, accuracy, and a firm’s ability to remain effective wherever they are working. With these benefits, there are also new security concerns that come into play. Attorneys deal with a great deal of … Read More
Tech Tip #122-Are You Sure You Are Posting Trust Retainers Appropriately?
Trust retainers should only be posted to the correct client funds liability accounts. All too often attorneys post retainers as fee income. This is wrong and could be harmful to your practice. Utilize practice management software that has safeguards in place to ensure that all of your client retainers are appropriately posted, otherwise, you could run into data errors and … Read More
Tech Tip #121-Extra Security for Financial Information is a Must
Attorneys are often dealing with financial information. This can be their own finances or their clients. More and more of the solutions used to manage this information can now be found in the cloud. Because this financial information is so sensitive, simply having a user enter a password to access it is not enough. Guard financial information with two-factor authorization, … Read More
Tech Tip #120-Have The Right Data Sets To Build An Effective Revenue Distribution Model
Many firms set up their revenue distribution models based on productivity. In order to have an effective model in place, your firm needs to know who the originating attorney is, who is the person responsible for overall efficiency, what contributions have timekeepers made, and what contributions have been made to non-billable time. Learn more about all of the factors your … Read More
Does Your Firm Accept Credit Cards from Clients?
Does your firm accept credit card payments from clients? Not too long ago it would be an utter shock to hear that a law firm would accept credit cards from their clients. To someone outside of the legal industry, this would sound downright silly. We live in a day and age where people are swiping their card far more often … Read More
Tech Tip #119-Monotonous Time Management Tasks Made Easy
No matter how organized you think your practice is, everyone can have better time management. While tagging records can be time-consuming, it is still important that every record is tagged to its proper client matter. That means every email, task, event, document, billing item and transaction be attributed to the applicable matter. CosmoLex makes tagging all activity associated with a given … Read More
Uptime LegalWorks Review
You know how CosmoLex will help you manage your practice. Today I’m going to do an in-depth review of another popular cloud-based service for law firms: Uptime LegalWorks. LegalWorks is a cloud-based Document & Email Management system designed exclusively for law firms. With LegalWorks being such a popular product in the legal space, I thought I’d check it out. … Read More