Considering the Switch to LeanLaw: Processes and Questions
At LeanLaw, we like to get our clients thinking about their workflows, reporting and how they use their software. We want them to consider how to optimize LeanLaw so that they can save time, money and hassle.
If you’re considering switching to LeanLaw, here are some questions you can ask yourself or your law firm office manager:
- What tools are you currently using? Is it a practice management tool or a standalone invoicing tool?
If you’re using a PM tool, do you use it for more than invoicing? Where do you excel when using the software and where is it problematic? If you’re using a practice management tool mostly for invoicing, you are paying too much for software.
- What is the lifecycle of an invoice? Do you have some sort of workflow that includes: time tracking, invoicing review, expense reimbursement, invoice production, client payment and finally reporting?
What we’re getting at: who touches what, where and when in the timekeeping and invoicing workflow? Your answer to this question will offer you a glimpse of where there is inefficiency.
- How do you calculate compensation for the partner(s)? What is the process to generate those reports? How frequently are those reports run?
If you’re not sure on this answer or if it’s not memorialized and scheduled, the combination of LeanLaw and QuickBooks Online can capture and automate the reporting.
- Does the firm receive funds held in trust? If so, what is the lifecycle of asking, receiving, applying and reporting trust payment? How is this tracked and managed? How is this reconciled and with what frequency?
LeanLaw has made a difficult 12 step process of Trust Management in QuickBooks Online into a one click operation. Law firms need to be audit-ready at a moment’s notice. Are you? We’ve created a true integration with QuickBooks instead of a sync somebody in your law firm has to straighten out later.
- How does the firm define a good client from a bad one? Are you clear on who pays their bills and in what time frame?
LeanLaw’s reporting can show you in a click how often and what percentage of the bill your clients pay. If you identify who are your good clients in a fiscal sense, you can better manage the operations of your law firm and dedicate resources where they will yield results. Understanding the profitability of your law firm is a crucial step in becoming lean.
We would be happy to explain and extrapolate on what we’ve posted above. Give us a call or schedule a demo. We can’t wait to help your law firm get lean.
Not ready to commit to a demo? No worries: we have a video demo here.
