What if there was a more efficient way for your law firm to manage matters and up-to-date legal documents and information? Faced with the challenge of managing thousands of legal matters every year, manual processing can never be the only option. The right Matter Management Software provides you with a technology to manage and deal with matters like never before.
Be it logging billable service hours to contract generation, logging expenses to registering Attorneys, the Law Firm CRM is unique in its own way when it comes to matter management. The CRM solution is built on the award-winning Zoho CRM platform tailored for unique business processes. It makes Matter Management look relatively easy and simple.
The use of Law Firm CRM for Matter Management is growing rapidly around the world. Statistics show that the US law industry has a projected growth rate of 5.6% (2014-2024). Increased growth means increased competition. As such to remain in this competition, most of the Attorneys and Law Firms across the globe are steadily moving towards adopting Matter Management Software.
So let us move ahead to see how Matter Management can be made easy with Law Firm CRM.
To deal with different matters properly, you will need a robust solution who can look after all the aspects while dealing with matters. The Matter Management Software helps to store all the crucial information related to the various types of matters and saves you from disorganized cabinets and papers.
The Matter Management software lets you deal with the three types of matters, namely Hourly Rate Matter, Flat Fee Matter and Contingency Matter. Hourly Rate Matter lets you bill Attorneys bill on an hourly basis. Flat Fee Matter lets Attorneys charge a fixed amount for the matter. Contingency Matter lets Attorneys fight a matter and take a certain percentage of the financial statement.
Often a law firm could be dealing with any of these three matters or all of them at the same time. This can get quite confusing if done manually. As such, the Matter Management Software helps to manage all the three types of matters in an efficient fashion.
Once you are done with acceptance of a particular matter and decide to proceed with it, the Matter Management Software provides you the option to generate contracts for approval. You can prepare three types of contracts with the Matter Management Software: Hourly Contract, Flat Rate Contract and Contingency Contract. Depending on the billing preference, you can generate the contract easily right from the Matter Management Software itself.
Contract generation is crucial as Contracts serve as a record of commitments for both the parties. Contracts are binding legal agreements between law firms and the customers. With the Matter Management Software, law firms are freed from tedious and repetitive work of manual contract generation as the CRM solution automates the entire process and prepares the contract with an already pre-defined template.
The form information gets automatically populated in the chosen template, at the right place. This generates a contract which can be easily signed by the clients and sent back to you. As such, you will no longer have to spend hours manually completing information in the template. This way your law firm can focus on more critical business processes.
When it comes to billable service hours, the failure to properly track the attorney work hours can result in wasted time and loss in revenue. Fortunately, with the Matter Management Software, your attorneys can keep track of the time spent on the matter and how much of that time is billable hours.
When you use the Matter Management Software, you can easily track the attorney work hours and log the same as you work. The system automatically generates the invoices with the information provided. You can only log billable service hours if you are working with Hourly Rate Matters. For Fixed Fee Matters, your Law Firm will charge a fixed amount and for Contingency Matters, they will take a part of the financial statement when the matter is won.
Surveys have shown that the average hourly billing rate for attorneys is close to $300 per hour. Thus, with the help of the Matter Management Software, your attorneys can manage these hourly billing rates, update them accordingly and log billable service hours for the clients.
It is crucial to produce and submit invoices on a regular basis as you progress with the matter. The ability to generate invoices is crucial to maintain the service hours logged on a day-to-day basis. Generating and creating invoices manually can seem to be quite daunting and takes up a lot of time. As such, the Matter Management Software solution has been tailored in such a fashion that you can generate invoices for your clients with just a single click. All you need to do is click on the “Generate Current Month Invoice” option and you will have the information laid out in the invoice template.
To generate the invoice, you must have a complete and accurate itemized accounting of all the service hours logged. With the Matter Management Software, you do not have to shift through the billing records, check and calculate them thoroughly. Once you log the billable service hours, the solution does the calculation itself and you can generate the correct invoice without much hassle. After all, what is the use of the billable service hours without a proper invoice? But always remember, this is only applicable for hourly billing contracts.
Managing your expenses is an essential part of any business because you need to track the profitability of your business. No less important for law firms, expense management is crucial in the case of Contingency matters. The Matter Management Software allows the attorneys to log expenses for a matter and submit expenses in a timely fashion. Logging expenses are mainly done for internal tracking. This helps to show how much you have spent on a matter out of pocket vs how much you have earned from the same.
With the Matter Management Software, Attorneys and Legal Aids can log their expenses for a particular matter and attach any receipt or supporting document against the same. They can do it via mobile device too
In this process, you can enter and check for all the expenses that took place during the matter engagement. At the end, you can check the total expenses. The whole process of logging expenses is extremely intuitive and extremely easy to use. This does not slow down the legal operations.
Along with the details of every matter, there are other tasks which need to be taken care of such as forms need to be filled out, legal documents need to be sent, attorneys need to be managed and so on. Often these tasks seem to be repetitive if done manually which becomes way too time consuming.
Matter Management Software automates tasks uniquely that it takes the burden off the shoulders of the employees of your firm. You can enter details of the matter, generate contracts and generate invoices all with simple navigation and a single click.
Usually business processes consist of repetitive and manual tasks. Automation helps to automate these workflows. The right Software allows to automate several tasks such as sending emails, updating required information, generating contracts and so on. This helps to save time and reduce human errors. Your attorneys will also be able to focus and close more matters easily due to automated operations.
Law Firms deal with a huge number of matters and tasks on an everyday basis. It is not possible to handle everything properly without a robust task management system. The Matter Management Software has been developed keeping in minds of the tasks and matters handled by the Law Firms.
This Matter Management Software is one place to manage your entire firm’s tasks, reminders along with document workflows. You can easily manage your Dashboards, Matters, Attorneys, Billings and Invoices using one single software. With this robust task management system, you can save time, reduce errors, and streamline your business in the best fashion.
Matter Management is crucial. The right Matter Management Software works as a comprehensive application and lets you take care of your matters properly. It also helps you deal with several other tasks related to them. Almost 67% of law firms use the Matter Management Software for their business proceedings and to help you get better, we have got the best one for you.
The Law Firm CRM is the ideal solution which serves as the right tool and offers all these 7 essential features. Click the video below to learn more about the solution.
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