The integration comes at a time when more firms are searching for streamlined payment methods to overcome cash flow challenges. According to research[1], 59 per cent of lawyers report regularly dealing with late payments, while only 86 per cent of what is billed is actually being paid. The combined result continues to put pressure on both cash flow and profitability for law firms across the UK.
Legl's platform for modern law firm operations helps drive flexible, workflow-driven payments alongside compliance and onboarding, enabling law firms to better manage cash flow and mitigate risk.
It gives law firms the ability to automate legacy business processes - moving away from paper invoices and manually chasing up payments. The partnership between Legl and Access Legal ensures that the entire end-to-end payment process is written back to the law firm's case management system, so all records are up-to-date and compliant.
Speaking on the new integration with Legl, Access Legal’s Head of Product, Lauren Colbeck, says the law technology specialist understands just how important payment solutions are for law firms today: “From conversations with our customers we know that payment solutions are at the top of their wish list to help with faster and more reliable payments. Ultimately, if firms aren’t getting paid on time or at all for the services they provide, then it has a huge impact on cash flow and profitability.”
The Legl integration follows the recent launch of Access Workspace for Legal, Access Legal’s new digital solution that tackles one of the biggest pain points legal firms face when managing multiple fragmented systems: platform consolidation.
The new product offers firms the ability to bring all Access Legal’s solutions across case and practice management, legal compliance, learning and business solutions including CRM, HR and financial software into a single platform.
Lauren continues: “This is essentially a big part of why we have partnered with Legl - it’s a key solution to support a law firm’s operations. We also know that our customers want choice, they want to be able to use third party systems outside of our own software.
“On the other side, Legl makes paying easier for clients too. The modern client expects a technology-first experience when it comes to legal services, and being able to quickly access invoices online or on a smart device, is crucial to encouraging faster and more reliable payments.”
Legl’s VP of Engineering, Matt Jared, added: “Inconvenient payment methods and inefficient billing processes mean law firms have less control over their incoming funds. Digital payment methods, beautifully integrated with case and practice management systems, allow law firms to get paid faster, receive payments securely and reduce administrative time.”
For more information on Access Legal, please visit: https://www.theaccessgroup.com/en-gb/legal/.
[1] https://www.timesolv.com/blog/whats-your-collection-rate/