The new year can sneak up fast, so it pays to make a plan to tackle those eleventh-hour tasks now instead of waiting until the last minute. After all, the end of the year should be a time of relaxation and restoration, not a time to burn the midnight oil while drinking endless cups of coffee at the office. Get … Read More
11 Questions for a Successful Year-End Close
As the year draws to a close, law firms are presented with a unique opportunity—a chance to reflect, recalibrate, and refocus. While the end of the year is associated with holiday festivities and time away from the office, it’s also a critical period for law firms to assess their financial health, client relationships, and future growth strategies. The questions you … Read More
Maximize Your Law Firm’s Cash Flow Before Dec. 31
As you probably already know, the survival of any law firm depends on a healthy and uninterrupted cash flow. After all, if you can’t reliably cover your overhead, including salaries and vendor contracts, you can’t keep the lights on (or whatever the equivalent is if your firm offers remote or hybrid working). You also can’t reinvest in your business. Your … Read More
Speed to Lead: What It Is and Why It’s the Key to Your 2024 Firm Growth
Are you looking for ways to keep your website clicks high and your phone ringing off the hook with potential leads in 2024? The secret might be simpler than you think. It’s all about speed to lead, or how quickly you respond to potential clients’ inquiries. This critical sales metric can significantly impact the likelihood of converting prospects into clients, … Read More
Why Not All Payment Processors Are Created Equal
In our increasingly tech-driven world, law firms have more options than ever for how to accept and process payments. And there are important differences between the various processors out there. While many law firms use industry-agnostic payment processing options like Stripe, Square, or PayPal, there are drawbacks to using software that’s not tailored to the unique needs of the legal … Read More
How Legal-Specific Accounting Software Helps Lawyers
As a law firm owner, you’re no stranger to the complexities of running a practice. You’ve got a million things on your plate, and accounting is just one of them. It’s easy to think your current business accounting software is doing the job just fine. But the truth is, legal practices have unique needs that standard tools often overlook. We … Read More
Back to Basics: Legal Accounting vs. General Accounting
When it comes to keeping accurate records of your law firm’s accounts, it’s essential to make sure you’re using tools for the job that give you a clear picture of your firm’s performance and meet your legal, regulatory, and ethical requirements. Many firms, however, use outdated accounting methods or an assortment of industry-agnostic tools that don’t account for the unique … Read More
Back to Basics: Accounting Compliance for Lawyers
How many times have you tossed a receipt into your filing system and forgotten to record the expense? Are you guilty of losing track of the time you spend working on a case? What’s the status of those un-cleared funds in your client’s trust account? Law firm accounting isn’t exactly straightforward. Nor is it something you went to school for. … Read More
CosmoLex Becomes Exclusive Preferred Practice Management Software Partner of the Canadian Bar Association
CosmoLex helps the legal profession thrive while catering to the unique needs of Canadian firms MONMOUTH JUNCTION, N.J. – CosmoLex, a leading practice management software provider for the legal industry, today announced its partnership with the Canadian Bar Association (CBA) as the professional society’s exclusive preferred supplier of legal practice management software. CosmoLex is a fully integrated system designed to … Read More
Back to Basics: Legal Invoicing and Getting Paid
Legal billing processes are not only labor-intensive and detailed. They can also eat into valuable time that could be better spent working on client matters or investing in business development opportunities. Moreover, without an optimized legal billing process, you could be waiting longer to get paid and losing billable hours simultaneously. But the good news is that you don’t need … Read More
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