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10 Steps to Boost Your Law Firm’s Billing Returns
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5 Proven Billing Tactics to Get Paid Faster (14:40)
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How can our law firm automate our collections?
Most lawyers, and business owners in general, dislike following up on collections. Yet if you want to be paid for work you’ve already done, basic steps around collections are a necessity. One way to circumvent the issue of having to follow up with collections—and possibly putting it off instead—is to automate your collections process. Here’s how. Online payments Online payment … Read More
Top 5 Billing & Accounting Challenges Faced by Law Firms
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5 Key Benefits of Streamlining Your Billing & Accounting Workflow (29:41)
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How can we get our clients to pay our law firm?
It’s a situation no lawyer wants to be in—following up with a client whose account is overdue. And while it’s hard to avoid challenging accounts altogether, there are a few steps you can take to bypass most potential problem accounts. Get retainers First, if you don’t already do so, collect retainers. Holding a retainer in trust for a client often … Read More
Should my law firm ever discount our services?
Depending on global, economic or personal factors, it’s natural to wonder if your firm should offer discounts—out of compassion, a desire for continuing firm cash flow, or some mixture of the two. Know the why First, ask yourself why you’re considering giving the client a discount. Are they hard up for money? If so, why do you think they’ll pay … Read More
How can our law firm implement a payment plan for clients?
Setting up a payment plan can expand your law firm’s pool of prospective clients, especially during a pandemic economy.[1] And if done correctly, it can also help reduce the bills you have to send to collections by giving clients an option to pay in manageable chunks, rather than tackling a large sum at once. But it’s important to think through … Read More
How should our law firm set our rates?
You want clients to keep coming in the door. (Or, in the age of the pandemic, contacting you remotely.) And you want to be able to cover your firm’s expenses — and have an income. All those things are possible by determining appropriate rates for your firm. Laying the foundation Before you begin calculating your rates, there are a few … Read More