The best choice for e-invoicing software should have, at the bare minimum, these features:
- A mobile-friendly interface for on-the-go work
- Helpful analytics to better inform decision-making
- A platform for safe, secure transactions
- The ability to streamline billing for both the client and service provider
For any business, these four traits define a quality e-invoicing software. But for some industries, there are a few other key qualities — namely, flexibility and confidentiality.
The practice of law, for example, needs legal billing software that tracks billable time and maintains compliance with specific standards. Law firms need their billing methods to be convenient, speedy, and secure to maintain an ethical practice.
Legal e-billing software sets a great precedent for what the top end of e-invoicing software can look like. Keep reading to learn more about what makes e-invoicing software worth its salt and what you should look for when deciding on your software.
Which Software Is Best for Business Billing?
A law firm’s business billing software, like the business itself, needs to be:
- Scalable as the firm grows or shifts directions.
- Customizable as billing needs and workflows change.
- Secure in all of its dealings — especially with sensitive client information.
- Convenient to use for both the firm and the clients.
- Profitable to use by saving time (and money).
While much of a software’s quality comes from its features and functionality, some also boils down to integration: how well the software “talks” with other parts of your firm and how easy it is to use. Ultimately, the software needs to not only fulfill billing functions, but work alongside your firm rather than against it. In other words, the software should easily integrate with how your firm operates and work with industry-specific practices.
Additionally, practicing law requires complex time tracking while on the move, meaning mobile-friendliness and customization are essential. And because legal professionals must meticulously track billable time for client transparency, it’s best to use billing software that integrates with the firm’s case management program.
This is what makes a solution like PracticePanther so valuable: it is the only all-in-one case management software. From time tracking to practice management, PracticePanther helps attorneys handle their entire caseload from start to finish.
Click here to check out the various packages PracticePanther offers.
Which Billing Software Is the Best for Accounting in a Law Firm?
For accounting in a law firm, the best billing software simplifies complex financial workflows while ensuring accuracy and compliance. It should also provide detailed financial reporting and analytics for better decision-making, among other things.
Law firms bear a critical responsibility in managing IOLTA accounts, as these funds, though in the attorney’s custody, remain the client’s property. While standard billing software may offer broad accounting features, only specialized legal software for law firms is explicitly designed to handle the nuances of law practice, including the ethical management of IOLTA funds.
When choosing accounting software for your law firm, you should consider a comprehensive set of features to ensure the software meets the unique needs of legal practice. Here’s a checklist of features to look for to guide your evaluation:
- Compliance with legal accounting standards
- IOLTA account management
- Time and expense tracking
- Billing and invoicing
- Law firm payment processing
- Financial reporting analytics
- Trust accounting features
- Integration with legal practice management software
- User access controls
- Data security and protection
- Mobility and cloud access
- Customer support and training
- Cost-effectiveness and scalability
How Much Does Legal Billing Software Cost Per Month?
The price of legal billing software varies depending on your needs as a law firm and the pricing structure of each vendor. Many companies will price per user, and most will price on a monthly or annual basis. Vendors may also offer one-time purchases or even scalable “tiers” of subscription, where paying more means gaining access to more features or functionality.
Quality software like PracticePanther offers several pricing plans to best suit what each firm needs. As you can imagine, a higher price comes with a higher count of features, but even the most affordable plan can still come with a whole suite of functions. PracticePanther’s Solo Plan, for example, starts at $49/month per user and includes the following:
- Secure client portals
- Unlimited data storage
- Mobile-friendly companion apps
- Daily agenda emails
- Real-time notifications
- Fast and friendly technical support
- And much more!
Being on a budget doesn’t have to mean sacrificing quality. With a platform like PracticePanther, you’ll have access to the best simple invoice software, trust accounting software, and practice management software all rolled into one. And once you start using effective billing software, you’ll likely find that it saves you more money than it costs in the first place.
What Is the Best Program To Create Invoices?
For law firms, an intuitive, simple legal billing software makes the invoicing process run all the more smoothly. And if that’s what you’re looking for, look no further than PracticePanther.
PracticePanther is the only all-in-one solution for legal case management. E-invoicing is just a fraction of what PracticePanther can do; it also provides a host of related functions to streamline the entire billing process from start to finish. These include (but are not limited to):
- Customizable, on-the-go tracking for billable hours
- Intuitive settings to maintain compliance with IOLTA
- Detailed reports to drive better business outcomes
- Native payment processing — no third party required!
With PracticePanther, you will have a much easier time…well, with time — tracking it, that is. And because all your tracked time feeds straight into invoice creation, you’ll generate bills so detailed and meticulous that your client may even express gratitude, enhancing the attorney-client bond.
Ready to see what a robust solution like PracticePanther can do for your firm? Sign up for a free trial or demo today, or check out our pricing page to see which plan works best for you. We look forward to meeting you and empowering your practice!
