Benefits of a Legal Practice Management Software Change

Many reasons exist for a midsize law firm to consider adding practice management technology to its legal tech stack. This software helps you manage your firm’s finances, matter management, and business development. Practice management software can be compared to an electronic toolbox where all your digital tools are kept in one location or a Swiss Army knife which combines many functions into one unit.

You may be hesitant to accept it, even though you think it’s a good idea. This is because you would have to change the way your firm runs. You and your colleagues have likely spent many months or even years establishing and improving business processes to focus on the bigger picture, which is your cases and clients’ concerns. You have enough to do as a lawyer without your life being completely turned upside down.

This is a valid concern. Indeed, improving processes will also improve your work. To achieve this, everyone must do things differently. In a new white paper by Thomson Reuters entitled “How to Get What You Need (and Want) Out of Legal Practice Management Software,” the authors detail how practice management software can help law firms save time and produce high-quality work.

We’ll look at two ways integrating legal practice management software with your firm’s tech mix can improve your business processes. All firms must perform these functions.

Client requests for electronic billing

Clients increasingly request electronic billing because it provides clear guidelines on how to bill for their legal representation’s work. This technology can give firms an advantage when competing to win jobs from clients of this type.

If you want to increase the use of e-billing in your firm or add it, your legal billing software must integrate with other digital tools. A well-designed solution for practice management can help you achieve this.

Legal document management is made more accessible.

Document management is one of the biggest headaches for a business. It’s challenging to keep up with the latest versions and ensure everyone’s edits are included in the final document. Correct documents are essential for legal practice.

Many firms choose a practice management system that can handle all their client and document matters. These firms integrate document management with the practice management platform to ensure clean, accurate documents. This allows everyone to edit a document from either platform (documentation and practice management). Changes made on one platform are synchronized across both platforms. This eliminates the need for multiple versions.

What could all of this mean for your firm and you? It’s as simple as this: Being willing to change your business processes driven by technology can help you and your firm reach their full potential.

Download the latest white paper from Thomson Reuters to learn more about practice-management software and how it can help your firm succeed.

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