All-inclusive, legal project management
software from CosmoLex
CosmoLex has revolutionized practice management at Kraemer LLP in several ways. Most notably, it has greatly reduced the amount of time spent on invoicing and increased efficiency.
“We're not wasting time, and we're not using five people to generate a bunch of invoices at the end of the month,” Kraemer says. “[And] I have a high level of confidence when we generate it. It [only takes] like three clicks to go into that matter, invoice, and click generate. Then I can see it [and] review it, and it's pretty much done."
Furthermore, the time tracking feature’s description function has increased transparency with clients, boosting Kraemer’s reputation and increasing client trust. Says Kraemer, “It's transparent that I actually spent the time that I said I spent because I used the little timer feature, that timesheet, and that description [that] tells the client, this is what Kraemer was doing when he was working on the file. I hardly get any questions about my invoices when I send them out to clients.”
With CosmoLex, the law firm was also able to reduce delinquent accounts through two features.
First, the built-in payment processing feature increased the amount of same-day payments. “They can be on their device, and they'll see [the invoice], and they'll click on it. And then there's another little feature, right on the invoice [called] ‘Pay Invoice.’ You'd be amazed at the number of people who click pay right away. It is day and night.”
The second feature is the built-in trust accounting tools. "Whatever we anticipate is going to the work that's going to happen that month, they've actually paid it in advance. It's sitting in our trust account. So at the end of the month, when I send that invoice out... It just transfers automatically over from [the] trust and pays the account.”
With these features, Kraemer can focus on what he loves doing most: practicing law. “I actually like the business side, but on the other hand, that's not what I want to do, and I don't want to be having so many staff people sort of chasing down the accounts and making sure the money's coming in. [CosmoLex] makes it easy.”
Client Relationship Management (CRM)
Timekeeping
Document management and creation
Calendar management and matter workflows
Built-in trust accounting
tools
Legal-specific
accounting
Built-in end-to-end payment processing
Ready To Get Started? Try Free For 10 Days!
CosmoLex All-in-one Practice Management, Legal Billing, & Accounting
No QuickBooks® Required!