1. Clients portfolio
The law firm is generally heavily used, which results in a substantial client portfolio. Having a clear view of the customer list, easily finding their information and current files is imperative.
2. Time tracking
With invoicing often on a per-time basis, tracking the time spent on projects for different clients must work perfectly for smooth management.
Between time spent on a client and invoicing, the law firm must continually ensure that accounts receivable remain profitable.
Multiplication of acts, documents to be drafted, procedures, questions to be settled and interventions: there are many instances of invoicing in a legal firm. Checking that billing is up to date at all times is a must-have.
5. Manage cash flow
Between official acts, costs of proceedings, salaries and the time it takes to pay clients, cash flow is a key element in the health of a law firm. Having a clear view of cash flow is essential.