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Tag Archives: law firm billing

Law Firms that Discount have more Past Due Clients 

The Connection between Law Firm Discounts and Past Due Clients

Law firms that discount or write off legal fees prior to invoicing clients, also tend to also have more past due clients. That was one of the most interesting findings from a cross-tab analysis stemming from a law firm billing survey published late last week.  The chart published nearby compares the percentage of past due accounts between law firms that ... Read More »

Law Firm Billing Survey: Collections Conversations Leave Lawyers Uncomfortable

law firm billing survey

For most law firms, past due client accounts are a fact of business.  A new LexisNexis survey of 309 U.S.-based law firms found that more than 73% experience past due accounts.  Yet for many lawyers, asking a client for money they earned is embarrassing, uncomfortable and for some, even “distasteful.” Consider the following comments offered in response to open-ended questions ... Read More »

Seven Tips for Improving Law Firm Billing Efficiency

Seven Tips for Improving Law Firm Billing Efficiency

Note: This post was penned by Loretta Ruppert and originally published in GP Solo in August 2013. Geneva Yourse was a relatively new attorney when she took a big risk: she quit a secure job as an attorney with a family friendly firm.  Why?  Because she wanted to pursue something bigger:  to hang her own shingle.  Hanging up a shingle, ... Read More »

Discounting Legal Fees Sends the Wrong Message

Discounting Legal Fees Sends the Wrong Message

Note:  The following is a guest post by Ann Guinn. If you are one of the many attorneys who regularly discount fees, you are causing yourself to underearn –and sending the wrong message to your clients. Sure, there are times when a discount is the right thing to do; but chronic discounting is a different story entirely. Let’s consider an attorney ... Read More »

The 4 Strategic Options in Software for Law Firm Accounting

The 4 Strategic Options in Software for Law Firm Accounting

For new law firms, processes, procedures and infrastructure are important decisions.   These are important for future plans – choosing systems that can support a firm as it grows. Accounting systems are a good example, because a law firm that outgrows it existing accounting tool will force a change precisely during a growth spurt.  In the worst cases, making a dramatic ... Read More »

Infographic Friday: Billing Rates Up 4%, But So Are Discounts

law-firm-differentiation-means-rate-pressure

Note:  The following is a guest post by Larry Bodine; the infographic, as customary with our Friday Share series, follows below.  Law firm billing rates are up in all firm sizes – especially at “top of the market” megafirms – but then, so are discounts, according to a pair of influential surveys of the legal profession. Fees at megafims have ... Read More »

10 Authentic Tips for implementing AFAs in Legal Billing

10 Legitimate Tips for implementing AFAs in Legal Billing

The alternative fee arrangement or AFA, is one of those recurring trending topics in the legal industry.  It ebbs and flows with arguments on all sides – for, against and undecided. Just ahead of the American Lawyer big law rankings, an article in the Washington Post, which is cited below, made the rounds in news, blogs and social media. We ... Read More »

5 Questions with a Law Firm CFO

5 Questions with a Law Firm CFO

Law firm clients today are in the driver’s seat – asking law firms to provide more value at a reduced cost. Technology is one way law firms can provide improved efficiency and reduced costs, but what it does not provide is the client-centric focus and attention to value that is now expected by clients when providing legal services. These ideas ... Read More »

Power Interview: Tips and Techniques for Law Firm Billing Software

Tips and Techniques for Law Firm Billing Software

The biggest challenges facing law firms today may well be ensuring everything works well together.  That’s according to Gail Thomas, a billing supervisor with English, Lucas, Priest & Owsley, LLP. The Bowling Green, KY-based law firm practices a wide range of practice areas from personal injury and business litigation – to real estate, immigration and employment law.  It is the ... Read More »

Session: 5 Effective Law Firm Billing Techniques #ABATECHSHOW

5 Effective Law Firm Billing Techniques

Steven Best and Peggy Gruenke presented an excellent session titled Bills in – Money out. The speakers opened by pointing out that calling up a client that’s late on bill is an unpleasant task.  From the speakers’ vantage point the best way to avoid that scenario is to manage expectations from the outset.  Here are five tips from their presentation ... Read More »