Tabs3 Practice Management Blog for Law Firms

Time is money, especially in law firms. Automating functions with practice management software can not only save a lot of time, it can increase a firm’s profitability.

What Automation Is, and How It Works

Automations are sets of instructions that perform tasks. They improve productivity and reduce human error by cutting out repetitive manual work. In our practice management software, PracticeMaster, we call these automations WorkFlows. Using WorkFlows, we’ve seen firms realize substantial time savings, such as a reduction of 33% in time spent processing paperwork. They work based on a simple if/then principle: “if” a trigger event takes place, “then” actions can begin. Use automations to streamline time-consuming processes.

One popular automation in legal services is document assembly. Identify frequently used legal documents, such as fee agreements and contracts, and you can set up document templates in the software. Each template has designated fields, such as name and contact information, sometimes called variables or conditional text, which represent case data. Save your templates in the software and select them as needed. With WorkFlows, after you enter a new client into the system, document assembly can begin with client data already filled in. Templates can include additional prompts, like to enter a fee for billing or set a calendar appointment with a client.

Identify What to Automate

The best kind of tasks to automate are ones you do regularly. Think about goals you want to achieve by streamlining your firm’s processes. Meet with your office administrator or billing clerk to learn about their time-consuming or repetitive tasks, and make special note of redundancies like duplicate data entry. Review how you enter time, enter new client information, and communicate with clients. Don’t forget about billing and payment collection. Are there tasks that take a long time, or things that are done the same way every time?

Identify two or three key things to automate, then implement them. As your team becomes more comfortable with setting up and running automations, you’ll find more opportunities to automate. Not sure how your software’s automation tools work? Reach out to a consultant or your software’s support team and ask how they can help.

What Not to Automate

Not everything can or should be automated. Processes need to be predictable for automation to work. Unique documents or anything that requires individual consultation, decision-making, or collaboration are not good candidates for automation. Until we figure out a way for computers to become more human, personal engagement and conversations about your client’s situation are what make your firm different from others. Those are your personal and professional skills that can never be automated.

Take Advantage of Available Resources

Automations may seem overwhelming, but don’t fear the work involved in setting them up. Take advantage of the tools available, and your firm will reap the rewards of the higher level of efficiencies. Saving time does not mean losing billable time. Automation allows you to spend more time with your clients, find additional clients, or plan for your firm’s future.

Invest the time to review all of your processes. Find out what your software’s automation capabilities are. Implement what you can now, and set up a plan for future automations. Although you’ll spend more time early on with automation research and setup, you will never regret the time you will save.

For more information on automations in PracticeMaster, check out our WorkFlows Guide. To learn more about how document assembly works in PracticeMaster, watch this video: Intro to Document Assembly

It turns out that not all trends are cyclical. Cash? Check? Like it or not, these forms of payment are going the way of the abacus and the typewriter.

Although there are good reasons to be cautious about adopting new technology, payment processing is one area where it pays to be ahead of the curve. After all, anything a firm can do to increase billable hours, reduce administrative work, and accelerate accounts receivable is good for the bottom line.

It isn’t only about improving internal workflows, either. Accepting credit cards also improves client satisfaction at the same time that it increases profit margins.

That’s why Tabs3 Software is excited to announce we’re now offering a built-in credit card processing feature, Tabs3Pay.

A valuable tool for law firms

Credit card processing, when implemented correctly, can add enough of a lift to key areas of a law firm’s success to create a competitive advantage.

Cash flow and processing time

Having an online payment option reduces the number of steps needed to make a payment, which increases the likelihood of clients paying quickly. In fact, the legal industry has become increasingly aware that accepting credit cards improves cash flow by 30 to 40%.

A few other benefits: credit card deposits often hit your bank account faster than a check, and you’ll save on the administrative time it takes to process other payment methods.

Client satisfaction and growing expectations

The legal industry is no exception to the growing customer expectation for convenience in making payments, including for business transactions. Providing the ability to make payments by credit card helps meet that demand while also creating a simple payment experience that can be completed from any device.

Overall, accepting credit cards offers greater predictability and stability, opening up opportunities to proactively plan for your firm’s future based on more accurate financial projections.

Getting legal-specific

When selecting a credit card processing service, it’s important to select a software specifically designed for legal clients.

Running your payments through a certain processor puts the pressure on them to make sure the transactions are secure, but you still have an ethical responsibility to verify what that process is. Check if the processor is certified as PCI compliant. Your firm should also vet how information is being stored to ensure privacy compliance.

Don’t forget to ask about how trust accounting is handled. Most credit card processors deposit funds into the same account from which they withdraw the transaction fee, which can land a law firm in serious trouble.

Although this practice isn’t a big deal for non-legal companies, if the account in question is a legal client’s trust account, then the transaction fee has just been paid by the client, not the lawyer. Even if you act quickly to transfer the amount from your operating account, you’ve technically already accessed client funds.

To avoid these issues, legal-specific processors like Tabs3Pay are set up to deposit charge funds into the trust account and withdraw transaction fees from the operating account. We also protect you from similar issues with voids and chargebacks.

Likewise, we can handle your firm having more than one client trust account. After all, we’ve designed our software specifically for lawyers!

Craft your own approach

Tabs3Pay is part of Tabs3 Software, which means that if you want to sidestep double data entry by having your accounting seamlessly update with new payments, you can. With flat rate options and more, you can find an approach that works for your firm.

Visit our site to learn more about the benefits of Tabs3Pay.