Lawyers spend their days prioritizing and juggling competing demands from clients, deadlines, and an assortment of unavoidable administrative tasks.
With so many critical to-dos on the docket every day, the last thing a lawyer needs is to have to chase down payment after their work is done.
Legal teams are all too familiar with the challenges associated with payments, yet many law firms still rely on traditional payment methods. Manually sending out invoices and then waiting for checks to come in can lead to decreased cash flow and frustration in client relationships. It also requires unnecessarily complicated workflows, adding more time to what should be a simple process of collecting payment.
However, there is a way to create ease, transparency, and rapid payments for client invoices. A legal software solution like Tabs3Pay can help you take credit for all the work you do and get your firm compensated without a hassle.
7 ways Tabs3Pay makes it easy to take credit for your work
In the legal world, time is of the essence. The faster you receive payment for your services, the better you can allocate resources and plan for the future.
With Tabs3Pay, you can easily accept credit card payments from your clients. This accelerates the payment process, eliminates manual errors, minimizes write-offs, and ensures PCI compliance.
In short, Tabs3 gives your firm an advantage at every stage of the billing process.
1. Get paid faster
Because online payments are more convenient, clients are more likely to pay on time and in full when you offer this option.
With Tabs3Pay’s mobile-friendly options, your clients can pay any invoice upon receipt through an emailed link or from the Tabs3 Client Portal, no matter where they are. Clients can easily view their bills, make payments, and receive instant confirmation of their transactions, all from their mobile devices.
For clients on retainer or with other appropriate payment structures, automated payments can take the guesswork out of the client payment process. Schedule payments to process one time or on a specific day every month.
With automated payments, clients don’t have to spend time each month paying off invoices, and you can focus on your client’s case matters instead of their outstanding bills.
Nor will your clients have to run to the post office; you can request trust account replenishments directly from the Tabs3 Matter Manager and send them their secure payment link via email.
Finally, but most crucially, funds sent through Tabs3Pay are available in as little as 24 hours. That means when you “get paid,” you actually get paid.
2. Automate payments to prevent manual error
Say goodbye to manual data entry and hello to a more efficient, error-free financial workflow.
Manual errors in payment processing can be costly and time-consuming. When errors occur, they not only disrupt your financial operations but also damage your firm’s reputation.
Tabs3Pay eliminates these manual errors thanks to a range of automated processes. From batch billing to automatically withdrawing processing fees from operating accounts, you can ensure payments are processed accurately and save your firm time that could be better spent serving clients.
3. Manage collections and reduce write-offs
No one wants to chase down clients to collect outstanding payments. It’s tiresome, strains client relationships, and can lead to avoidable write-offs.
With Tabs3Pay, you can:
- Proactively monitor the status of invoices
- Create flexible payment schedules for clients with large outstanding balances
- Send convenient reminders to clients with approaching due dates
- Accept a broad range of credit cards, including Visa®, MasterCard®, Discover®, American Express®, Diner’s Club®, and JCB credit cards, as well as Visa and MasterCard debit cards
4. Reduce processing fees
High or unpredictable processing fees have historically been a barrier to accepting credit card payments for law firms. Tabs3Pay helps mitigate this issue by offering:
- Zero initial setup fees
- Transparent and predictable pass-through fees
- Optional client surcharging
5. Secure and PCI-compliant transactions guaranteed
Security is essential when it comes to handling financial transactions, especially in the legal industry, where client confidentiality is paramount. Tabs3Pay is designed to ensure PCI compliance, meaning that all payment information is handled securely and in accordance with industry standards.
Your clients can trust that their financial data is safe, and you can rest easy knowing that you are in compliance with legal and regulatory requirements.
6. More accurate financial reporting
Running a healthy practice requires comprehensive insight into your firm’s financial data. To achieve that, you need access to robust reporting software.
Tabs3Pay is fully integrated with Tabs3 Billing, providing firms access to customizable financial reports. With Tabs3 Billing’s dashboards, you can use graphs to quickly assess Accounts Receivable, Work-in-Process, Cash Receipts, and Billing History historical data.
Use detailed reports to understand which clients are struggling and which clients consistently pay their invoices on time. This reporting can give your law firm the information it needs to make strategic decisions for profitability and growth.
7. Greater client satisfaction
Using Tabs3Pay benefits law firms, but it can also improve the overall client experience. The flexibility and convenience of credit card payments with a legal-specific payment processor make it easy for you to stay focused on your matters.
Clients appreciate the convenience of credit card payments. By providing a transparent system with built-in consistency and security, Tabs3Pay fosters client trust and a more positive relationship with your firm.
In turn, this benefits your firm’s reputation and can lead to more business in the form of referrals because happy clients are more likely to recommend your services to others.
Improve your payment processing with Tabs3Pay
In the legal industry, every advantage for your law firm can serve as a competitive edge.
Tabs3Pay improves all aspects of the payment process, both for your team and your clients. It lets you streamline non-billable tasks, improve client satisfaction, and take credit for all your work. It also works seamlessly with Tabs3 Billing and PracticeMaster, helping law firms create a customizable system for managing and growing their practices.