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Having Problems Collecting From Clients? ConsiderTurning To Attorney Billing    Software For Help              Presented b...
Increase Payment Rates With  Attorney Billing Softwaren   While the primary job of any law firm is practicing law,     man...
Effective Billing Policies         Are The First Stepn   If your invoices are confusing, clients won’t know what to     p...
Audits Help Ensure              Accuracyn   You should audit random attorney billing software     invoices frequently to ...
Stay On Top          Of Unpaid Invoicesn   If the client has an outstanding     balance, follow up with monthly     invoi...
Communication Is Keyn   If months have gone by and the     client still hasn’t paid their     invoice or contacted the fir...
Remain Flexible               With Paymentsn   Debt collection isn’t black and white. There are a lot of     options betw...
Passing Debt To Credit               Agenciesn   Some firms prefer to partner with a credit agency to     assume the debt....
Attorney Billing SoftwareSimplifies The Payment Processn   Attorney billing software     simplifies the entire process.n  ...
About LexisNexisn   LexisNexis is a leading provider of content-     enabled workflow solutions designed specifically     f...
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Having Problems Collecting From Clients? Consider Turning To Attorney Billing Software For Help

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While the primary job of any law firm is practicing law, many firms are finding they also need to allocate resources to debt collection. Rather than turning to a debt collection agency or wasting a lot of firm resources with debt collection, use attorney billing software. A few smart accounting policies to increase payment rates can reduce the number of clients in a collection status.

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Transcript of "Having Problems Collecting From Clients? Consider Turning To Attorney Billing Software For Help"

  1. 1. Having Problems Collecting From Clients? ConsiderTurning To Attorney Billing Software For Help Presented by: LexisNexis http://www.lexisnexis.com
  2. 2. Increase Payment Rates With Attorney Billing Softwaren While the primary job of any law firm is practicing law, many firms are finding they also need to allocate resources to debt collection.n Rather than turning to a debt collection agency or wasting a lot of firm resources with debt collection, use attorney billing software.n A few smart accounting policies to increase payment rates can reduce the number of clients in a collection status.
  3. 3. Effective Billing Policies Are The First Stepn If your invoices are confusing, clients won’t know what to pay.n Invoices from your law firm billing software should be clean, without legal jargon and uniform, regardless of which attorney worked on the case.n Services should be itemized, even those that were performed for free. This helps remind the client of the value they’ve received.
  4. 4. Audits Help Ensure Accuracyn You should audit random attorney billing software invoices frequently to ensure that they’re correct.n Clients will have little patience for incorrect invoices and likely will ignore them rather than calling to correct your mistake.n When you audit the invoices, check numbers, but also be on lookout for typos or other mistakes that can make the invoice appear unprofessional.
  5. 5. Stay On Top Of Unpaid Invoicesn If the client has an outstanding balance, follow up with monthly invoices to remind them until it is paid.n If a client hasn’t paid an invoice, it’s likely that the invoice simply got buried in a stack of paperwork.n Polite, firm and timely reminders will usually take care of any billing issues.
  6. 6. Communication Is Keyn If months have gone by and the client still hasn’t paid their invoice or contacted the firm, don’t just continue to send them.n The client may be upset about something or having money problems.n Calling to understand why the invoice hasn’t been paid can help work with the client to come up with a payment schedule that works for you both.
  7. 7. Remain Flexible With Paymentsn Debt collection isn’t black and white. There are a lot of options between constantly harassing a client and writing the debt off at a loss.n Some firms are uneasy about providing clients with credit since the liability can be too high.n Rather than offering a payment plan, propose automatic credit card payments through the attorney billing software.n These payments are applied automatically so the client doesn’t have to do anything to ensure the payment is made.
  8. 8. Passing Debt To Credit Agenciesn Some firms prefer to partner with a credit agency to assume the debt.n This partnership can be easily administered through the law firm billing software.n Whenever you do send out an invoice, don’t forget to include a short note thanking them for the business.
  9. 9. Attorney Billing SoftwareSimplifies The Payment Processn Attorney billing software simplifies the entire process.n Professionally created invoices, combined with collection polices that make sense can help improve payment rates and maintain positive client relationships.
  10. 10. About LexisNexisn LexisNexis is a leading provider of content- enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets.n The company can customize its products to the needs of the modern law firm and offers unique features that generic software solutions cannot.
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