Choose the right legal accounting software

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How to choose the right legal accounting
software for your firm
So you never lose touch with your money
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• In todays competitive environment
• profitability is paramount

The Golden Age of easily achievable double
digit organic growth is over... Pressure on
profitability has become not just a temporary
area of concern for law firm management, but is
now one of the top priorities.
Tony Williams and Richard Tromans of Jomati
Consultants LLP
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• But do you monitor it accurately?

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• Delayed (or incorrect)
• bill production and credit control
• could compromise the health of
• your cash flow
• and consequently the profitability of your
  practice.

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• For profitability to be managed efficiently the
  right systems must be put in place

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Legal accounting software is one of these
systems and arguably, one of the most
important ones that a law firm should use.
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Its the window towards your firms
financial health.
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The implications of this choice will last for a
number of years, so make sure that you select the
legal accounting software that corresponds to
your firms needs.
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But how do you select the right product?
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Here are a few guidelines
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Can the software be integrated into a case
management system? The answer to this question
should be Yes All the financial information
recorded in your accounts software will be
automatically matched against the right cases and
matters in your case management software.
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• This integration will result in
• less admin work
• less errors
• a faster billing process

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• Can you get all the information you need?
• Your accounting system should provide you with
  all the reports you require in order to be able
  to
• track the performance of fee earners and
• the profitability of the practice
• in real-time.
• The financial reports should be easy to extract
  and
• share with other interested parties.

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• Is the legal accounts software compliant with
  current legislation?
• The product should comply with
• The SRA accounts rules and code of
• Conduct
• The Legal Services Commission (LSC)
• requirements
• LEXCEL

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Can it join up your Fee Earning and Accounts
departments? It should. The integration between
your legal accounts and case management software
should give way to a tighter collaboration
between the two functions of your firm.
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The systems should enable you
to
establish a transparent
way of


working and
encourage

staff to
collaborate. Involve the fee earners in the
financial side of the legal work they are
carrying out day to day.
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The money equation
Increased collaboration between accountants and
fee earners
A quicker billing process
Healthier cash flow and profits
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Looking for a product that ticks all the boxes?

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• Learn more about Financial Director- our legal
  accounting software
• Full integration with market-leading case
  management software from DPS
• Allows fee earners to send payment requests,
  cheques, e-chits and invoices electronically.
• Granular security model
• Ad Hoc Reporting of all the management
  information you need
• Lightning fast and user-friendly

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Dont let technology hold you back Use it to
fulfill your firms potential Let us
help. www.dpssoftware.co.uk
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Start by downloading our free white paper.
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