202216 Mar

Tips for better billing: Why practice management software is critical to business success

Summary

The best legal practice management software offers automatic time-tracking tools to help stay on top of your time by capturing how long you spend working. Practice management software helps law firms sharpen their accounting and reporting skills, improving their capability to analyze where they spend time and how productivity affects the bottom line. A 2019 study conducted by Thomson Reuters Legal Executive Institute found 61% of small law firms reported getting paid by clients as a significant challenge. The best legal practice management software automates a process that shouldn’t depend on guesswork and hunches, spur-of-the-moment recollections, handwritten notes or manual spreadsheets. Your modern law practice confronts various challenges—data security, compliance requirements, infrastructure, evolving technology, changing digital usage and the COVID-19-related impact of remote work.

Source: Abajournal

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