Here are five ways to improve them:
1. Make it easy for clients to pay promptly.
By enhancing billing workflows, firms are able to bill clients accurately and in a timely manner. Inefficient workflows typically delay the payment process as the services provided have the tendency to lessen over a given time period. The
ability to audit activities to help keep track of and bill for services can help ensure that firms are not absorbing costs that should be paid by clients. A prompt, accurate invoice makes it easier for a client to process payment quicker.
2. Keep attorneys involved in the process.
It may seem like a no-brainer, but because they have the relationship with the client, attorneys should be involved in the collection process. At most firms, the collection process is managed by accounts payable (AP), and in some cases legal assistants, administrative assistants or clerical staff. Typically, AP manages the
billing workflow, tracks the amounts owed by each client and sends a monthly bill. When payments are late, additional notices are sent. At some point, an admin may start calling the client to “remind” them payment is due. But it’s the attorney(s) and associates working on the client’s matter that have the key relationship(s) with the client. They are trusted advisers whose services the client is buying. Because of this valuable relationship and the frequent communication between attorney and client, attorneys may need to become involved and reach out to the client regarding outstanding invoices.
