Are you looking for ways to keep your website clicks high and your phone ringing off the hook with potential leads in 2024? The secret might be simpler than you think. It’s all about speed to lead, or how quickly you respond to potential clients’ inquiries. This critical sales metric can significantly impact the likelihood of converting prospects into clients, … Read More
Four Signs Your Data Isn’t Ready to Migrate (And How to Get it Ready)
Isn’t it nice to make a fresh start? The opportunity is fast approaching as we move into the fourth quarter of 2023 and contemplate how to wrap up the year and make some changes for the next one. What’s on the list for some law firms? Adopting a new accounting software to kickstart 2024. The new year is an optimal … Read More
Convenience and Security for All: Keeping Law Firm Client Payment Methods on File
Running a successful law firm is a delicate balancing act. Like an acrobat holding multiple spinning plates aloft, you must balance your legal work with various business tasks, including managing client payments, legal accounting, and trust funds. Adopting best practices for these tasks allows you to maintain regulatory compliance and enhance client satisfaction. It can also improve your firm’s overall … Read More
Common Compliance Challenges for Law Firms and How to Overcome Them
Let’s face it, most legal professionals don’t wake up in the morning excited to run to the office and tackle their accounting. Instead, you probably studied law so that you could help people and make a difference in the world, resolving problems and delivering results for your clients. Tracking transactions and crunching numbers? Not so much. On top of that, … Read More
Deter Cyber Threats with a Secure Website by CosmoLex
A great website is an essential component of any law firm’s marketing success, but your firm’s website doesn’t just need to look polished and professional. It also needs to be secure, for the sake of both your clients and your practice. Cyber-attacks are expected to increase in 2023. According to a poll, 34.5% of executives reported that their accounting and … Read More
Why Law Firms with Payment Options on Their Websites Have Higher Liquidity
We don’t want to ruffle any feathers, but we have to say it: there’s more to operating a successful law firm than practicing law. Sure, it’s a pretty big prerequisite, but at the end of the day, a law firm is also a business. And as businesses, law firms do need to consider things like online reviews, payment processing, utility … Read More
Avoid These Common Billing and Collection Inefficiencies (and Increase Your Cash Flow)
Money makes the world go ‘round—and that includes law firms. And that’s why billing and collection processes are a critical aspect of running a law firm of any size. Yet many small law firms and solo practices struggle with billing and payments because they operate with fewer resources than their larger counterparts. The result? Inefficient workflows and cash flow problems. … Read More
Back to Basics: Trust Accounting for Small Law Firms
Trust accounts are among the most complex aspects of running a law firm—and they can be especially intimidating for small firms because there are fewer people to bear the fiduciary responsibility. To add to the stress, compliance mistakes with trust or IOLTA accounts can lead to serious consequences, ranging from fines to disbarment. But you don’t have to let the … Read More
4 Tips for Great Client Service
There’s no question that delivering great results for clients draws more business to your firm. But results aren’t the only factor that influences client behavior. Providing excellent client service helps your firm build client loyalty, win more referrals, and improve your reputation—all of which have a direct impact on profits. The best way to improve your client service is by … Read More
How an Amazing Client Experience Translates to Loyalty
When lawyers think about a client’s experience with their firm, they often think about direct interactions with clients. But the truth is that these interactions more accurately reflect the lawyer’s experience than their clients’. Many components make up the client’s experience—from the first forms they fill out to how long it takes for someone to respond to their phone call … Read More