Secure your firm's revenue and growth with regular, controlled invoicing that reflects the work carried out.
Invoicing is any law firm's crux. Over and above resulting turnover, it is the structure's sustainability and growth that depend on it. It's hard to imagine recruiting employees, accountants, lawyers, or assistants without being able to finance it. Acquiring larger or better-located premises? A structure buy-out? New associations or any investment without a healthy and solid cash flow? To achieve this, the work and diligence involved in handling client files must be invoiced at fair value and without omissions.
First of all, invoicing at fair value because several people with different roles and qualifications (employees, associates, external consultants) are likely to intervene at the various stages of processing a case (research, expertise, drafting...) and each of these interventions must be invoiced at the appropriate hourly rate.
Invoicing without omissions, because a working day never unfolds in a linear way, with one task following another without being disturbed or interrupted. Interruptions are always present. We often jump from one task to another before they are completed while answering urgent e-mails or phone calls. It then becomes easy to forget to reschedule that impromptu phone call, do a quick document search, or answer an e-mail that turned out to be more complex than expected, or to minimize the time spent for fear of “overloading the file”.
In order to optimize invoicing, implementing tools that allow you to precisely measure time spent, record it in the files and issue intelligible and transparent invoices for clients, that are therefore easier to pay.
Yes, with management software that integrates timers directly linked to files. You can then add up the time spent to edit invoices more quickly. There are also more advanced solutions that use artificial intelligence to automate recording time spent. The lawyer only has to validate.
A mobile application linked to your billing software allows real-time management of the financial elements of a file (travel expenses, restaurant expenses, tax stamps, pleadings or court fees, CARPA entries, etc.)
The LEDES standard, when supported by management software, secures invoicing clients abroad and accelerates the payment of these invoices.