Many firms are currently facing slower collection timeframes due to client’s prolonging payment as much as possible. What’s more, clients are demanding better communication and greater transparency from their lawyers, but only 40% of firms currently provide their associates with billing information related to matters they work on. When the internal billing process is streamlined, it means bills are sent out sooner and cash comes into your firm faster.
How you can facilitate profitable growth by collecting your bills faster:
Create efficiency within your billing department: Manual work, ongoing editing cycles and input from various departments slows down the billing process, with ongoing editing cycles and input from various departments, getting a bill out the door takes time slowing down profits. Implementing digital processes reduces manual work required, digitizing your bills allows for easy collation within teams with efficient turnaround times.
Reduce costs and have increased capacity to handle more bills: Digitizing your billing process helps your teams to process bills faster and eliminate editing errors caused by paper billing. This translates to less time and resources used, reducing the need to hire additional personnel to handle billing, even as your firm grows.
Accurate invoices to get paid faster: Manual processes can result in human error, resulting in poorer client service, more back-and-forth and a higher risk of write-offs for valuable legal work.
So how can you digitize your billing process within your firm?
BigHand PrebillManager is an attorney-facing prebill viewer and editor designed to make the prebill editing process fast and easy. The viewer is also designed for the billing department to quickly see the changed information and process those changes into the accounting system. The tool is customizable to your existing prebill format and has a high attorney adoption rate because it mimics how they work on paper.
Streamlined legal billing processes
High attorney adoption rate
Mobile application for attorneys on the go
Customizable to your existing Prebill format
Easy install, no other 3rd-party software required
Leveraging new technology has made a huge impact on our day-to-day processes and made it much easier during the pandemic. Now, 95% of our attorneys use paperless prebills. Clients also like it because we can close matters faster and subsequently bill and collect faster