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Boosting Profits Through Better Billing and Bountiful Collections

Law Firm Payment Procssing: Better Billing and Bountiful Collections

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Boosting Profits Through Better Billing and Bountiful Collections

Law firms collect only

71% of the work

they perform.

How do we fix this?

Accurate time tracking

Timely Invoicing

Simple Collections

Needs to be easy to use!

The longer you wait to send out the bill, the more likely you’re in for a haircut and the bigger that haircut

is likely to be.“

ROCKET MATTER’S FIRST RULE OF BILLING

Wait longer to send out the bill do you,

and receive a bigger haircut you will.

http://www.legalproductivity.com/legal-billing/legal-billing-rule-6-delaying-billing-is-like-giving-away-free-money/

http://www.massbar.org/publications/section-review/2010/v12-n2/should-lawyers-take-credit-cards

“All lawyers should start

taking credit cards”

Retainers

Deposits go to Trust Account

Fees come out of Operating Account

Recurring Payments

In a few weeks…

Payment Plans

In a few weeks…