The best law firm billing software will depend on the size and needs of your firm. Accounting software in the digital age is a dime a dozen, but getting paid faster, following compliance best practices, and cutting down on human error is priceless.
We’ll explore briefly why an online billing accounting feature is necessary and how to identify the legal e-billing software that’s best for your firm.
Do You Need Legal Billing Software?
Legal professionals in small to medium-sized firms must wear more hats than one. From billing management to bookkeeping, emailing to case management, there are a lot of names and numbers to juggle to get the job done.
Billing software for law firms can eliminate some of the manual processes necessary to conduct business.
Zion Market Research predicts that by 2026, the e-invoicing market will grow by 20.4%. The uptick is due to firms’ increasing reliance on cloud computing technologies. Organizations like Albatross help businesses increase efficiencies, cut bottlenecks, and foster scalable business growth.
Benefits of an Online Billing Feature
Operating a small law firm means tight margins and critical cash flow management. Business leaders don’t have the luxury of forgetting about unpaid invoices or frivolous expenses. Cloud-based invoicing allows you to accurately keep track of your company’s record-keeping process and keep tabs on billing requirements.
What’s more, legal billing software offers an online security management solution. Online payment plans and offline invoicing data are better protected from hackers and cybersecurity scams when you choose the right billing software partner.
How to Choose a Law Firm Invoicing Software
For anyone new to cloud computing and as-a-service providers, you’ll need to consider how easily the software will integrate with your existing programs. Migrating your data into a new system is time-consuming and could be costly if you have to hire developers to help you. Consider both internal and external systems such as accounting, email and financial reporting as well as mobile apps, tax calculations and your e-commerce site.
Once you identify a few software providers that either won’t interrupt your current systems or integrate well with them, you can further narrow down providers with these criteria as well:
- How easy the program is to use.
- How much security the system comes with.
- How well it supports your global offices if you have them.
- How the pricing works within your budget.
- How robust the reporting and analytics are.
Considering these points along with how much access to your data you’ll have can help you identify the right law firm time and billing software.
Albatross is here to help you with migration, integration, and law firm billing software management from start to finish. We take a personal approach to each account we acquire to prepare the right solution for your needs. Our program includes turn-key cloud packages and incredible savings.
Learn more about our services and request a quote today to get started.