eCOS – TA Forms – Webinar by InfoTrack, 16 October 11am

While much is made (not least by us) of the importance of slick verification of Identity and Funds during the onboarding process, one of the features of eCOS that gets the most praise from users is how we’ve made Protocol Forms easier to complete for your customers, and easier for you to manage.

The game-changer: Find out how legal technology is transforming the legal sector with Perfect Portal

The legal sector is no exception to the transformative power of technology. Gone are the days of painstakingly sifting through mountains of paperwork and manually managing client interactions.

LexisNexis Enterprise Solutions launches Lexis Everyfile, to meet the demands of the modern law firm

LexisNexis Enterprise Solutions today announces the launch and general availability of Lexis Everyfile, a new, powerful, web-based application, available on Microsoft Azure.

See how to craft exceptional client onboarding experiences with Advanced

As a law firm, your clients are the lifeblood of your business. And like any business, it’s important to create an exceptional client experience that sets the tone for the rest of the relationship.

See why investing in software training is good for business with Jayva Global

At the end of summer and beginning of the autumn school term, it’s timely to talk about training. After all, training is just as beneficial in workplaces as it is in schools, right? The focus here is practice management software (PMS) training.

Xperate appoint new chief commercial officer for North America

We are pleased to welcome Mark Bilson as Xperate’s new Chief Commercial Officer for North America.

Digital data layers – Webinar by InfoTrack, 13 October 11am

When it comes to identifying and mitigating risk, you can never have too much data. Knowing what to do with it is sometimes the challenge.

Integrity matters: exploring transparency in modern legal practice with Advanced

Integrity is important to law firms, and clients are often sceptical to trust firms as well. As such, the importance of transparency in legal proceedings and client relationships is vital with financial dealings of law firms the most critical area for scrutiny. In this article, we delve into the significance of transparency in finances within law firms, and explore methods for enhancing transparency, and weigh the benefits against the potential drawbacks of not adhering to these principles.

Transparency serves as a cornerstone of trust in any professional relationship, and this holds particularly true in the legal industry. As clients place their legal matters and financial resources in the hands of law firms, they expect a high level of clarity and openness in all financial transactions. However, the legal industry has historically been criticised for its opacity in billing practices, making it difficult for clients to understand the value they receive for the fees they pay.

This is despite steps firms take to outline their position. Engagement letters will outline costs to clients, but potentially only hourly rates and projections, with a guide estimate potentially the only thing that clients can go to set their expectations. Something that can come crashing down if the matter is complex.

Law firms can take proactive steps to enhance transparency in their financial dealings and client interactions, ultimately bolstering trust and integrity. Regular updates on fees and expenses should be communicated to clients as well. By providing itemised invoices that clearly outline the services rendered, time spent, and expenses incurred, you are empowering your clients to understand the value of the legal services they receive and minimises the chances of surprises.

Embracing technology can streamline communication and transparency. Client portals can offer real-time access to case updates, billable hours, and expenses. Regular communication through emails, phone calls, or virtual meetings keeps clients informed about the progress of their cases.

While hourly billing remains common, law firms can explore alternative fee arrangements such as flat fees, contingent fees, or hybrid models. These arrangements can increase transparency by aligning the firm’s interests with the client’s goals.

The importance of transparency

Transparent billing practices foster trust and client satisfaction. When clients understand what they’re paying for, they are more likely to appreciate the value of the services rendered. Detailed invoices and open communication minimise the potential for billing disputes, leading to a smoother attorney-client relationship and improved overall experience.

Law firms that prioritise transparency can distinguish themselves in the market. Clients are more likely to choose firms that offer clear, transparent billing practices over those that don’t.

Conversely, a lack of transparency in billing processes can have several negative repercussions. Clients who feel deceived or surprised by unexpected charges are likely to lose trust in the law firm, leading to dissatisfaction and potentially creating brand detractors. In today’s digital age, a single dissatisfied client can share their negative experience online that is seen by anyone searching for more information on your firm, tarnishing the law firm’s reputation and potentially affecting future client acquisition.

Operating with non-transparent billing practices may also raise ethical concerns, damaging the law firm’s professional credibility. The loss of client trust can lead to delays with payments, disputes raised, and invoice actualisation reduced. Ultimately, a lack of transparency could lead to less customers and less revenue.

Transparency in financial matters is a vital component of modern legal practice that underscores integrity, trust, and ethical conduct. Law firms that embrace transparent billing practices and open communication stand to gain not only in terms of client relationships but also in terms of their reputation and competitiveness.

Xperate achieves full (FSQS) accreditation

Xperate has been awarded full certification through the Financial Services Sector Qualification System (FSQS). The FSQS accreditation is highly valued by the financial industry as it indicates a successful audit process and demonstrates Xperate’s commitment and capabilities to the sector.

Documents generation, contract of sale, TA13, TR1 – Webinar by InfoTrack, 12 October 11am

You will be familiar with much of the core functionality of the InfoTrack platform such as managing your onboarding or managing your post completion tasks.