Optimizing your law firm for the new year is integral to the overall health of your business, and it’s never too early to start planning.
Let’s face it: remote work is here to stay. It doesn’t matter if you’re going into an office every day or meeting in-person with colleagues a few days a week; remote work will always be a fallback for many industries, especially the legal industry. With this thought in mind, optimizing your law firm for the new year is integral to the overall health of your business, and it’s never too early to start planning. That’s why it’s more important than ever to have a cloud-based legal practice management (LPM) system at your disposal.
Find An All-In-One Solution
There are many benefits to using a legal practice management system; however, investing in one that caters to all of your firm’s needs is even more important. Those who have prior experience using a cloud-based practice management system are used to having access to information remotely. The ease of having all of your files, events, and contacts accessible and at your fingertips from any location is a convenience that many people are reluctant to get rid of. However, many legal professionals who use practice management tools either aren’t using their LPM to their full potential or are using disparate systems and/or third-party integrations to manage their workload. This solution is no longer feasible! Having everything in one end-to-end platform that handles all of your practice’s needs is the only way to keep your business running smoothly and stay relevant to the industry today.
Communicate with Clients
Keeping in touch with your clients is an integral part of running your law firm, but sometimes relying on your email isn’t enough. That’s why CARET Legal developed a secure client portal to make communicating both internally and externally easier. Not only can you exchange documents securely with your colleagues and clients, but your firm will also have a secure way to bill your clients and receive payments faster.
Keep Your Accounts (and Bills) in Order
Speaking of payments, what lawyer doesn’t want to get paid on time?
Relying on outside accounting services, like QuickBooks, puts your law firm at higher risk for non-compliance with the many rules and regulations that come with holding funds for clients. This is why legal professionals are better off investing in a legal practice management system with built-in billing and accounting capabilities that cater to a law firm’s needs, such as trust accounting, timekeeping, managing different types of billing rates (flat-fee, contingency, and hourly), LEDES budgeting, and more.
Additionally, reporting is a key factor that must be considered when investing in a legal practice management system. Finding legal practice management software that can generate and schedule comprehensive reports and key analytics not only keeps your accounts in order but will help give firm administrators a better understanding of the business side of the practice. CARET Legal has a full range of reports to help your law firm track productivity, compensation, clients, trust, and vendors.
While it may seem far off, the new year will be here before you know it! Sign up for a free demo today to see our robust features in action and how CARET Legal can kick start 2023 for your law firm.