Manual bill creation is a long, tedious, and time-consuming process for any law firm. It also poses a considerable risk of errors which can be lethal, especially to larger firms. To effectively manage and streamline your firm, legal timekeeping and billing software such as Aderant has become a critical tool. In the ever-increasingly demanding and complex world of the legal industry, you need to make sure you are getting the most out of your systems. This article will outline the major benefits of optimizing your automated billing, as well as the right time to implement billing automation.
The Benefits of Legal Timekeeping and Billing Software
Improves Accuracy in Bill Recording and Tracking
One of the primary benefits of billing automation is the ability to track and record billable hours in real-time and with tremendous accuracy. It also allows for easier tracking and reporting of time spent on specific cases and tasks, which can be invaluable for both you and your clients.
Improves Efficiency
With the right legal timekeeping and billing software, firms can set up recurring invoices and automatically send them to clients regularly, saving time and improving efficiency.
Saves on Cost and Resources
Automated billing:
- Cushions the firm from the direct and indirect costs of a broken process
- Improves revenue collections
- Reduces the time to receive payment
When Is the Right Time for a Law Firm To Implement Billing Automation?
There are a few key inflection points to consider.
- Growth – If your firm is experiencing rapid growth, it may be time to consider automating the billing process to keep up with the increased workload.
- Overflow – If a firm is struggling to keep up with billing and collections, billing automation can help streamline this important process and improve efficiency.
Regardless of the size or focus of the firm, the benefits of billing automation are clear: improved accuracy, efficiency, and cash flow.
At Simplex BI, our team of experts can help you find the right legal timekeeping and billing software and help you implement it effectively, ensuring a smooth transition and the maximum benefit to your firm. Refrain from letting the demands of billing and timekeeping hold you back. Contact us for more information.
