Why improving cashflow and speeding up billing with integrated requisitions is important
Improving cash flow and accelerating billing with integrated requisitions is vital for a law firm to enhance financial performance, maintain client satisfaction, and optimise operational efficiency.
By integrating requisitions, your firm can streamline processes, ensuring prompt and accurate billing aligned with client needs. It can facilitate a more efficient and transparent workflow, reducing invoicing and payment collection delays. This results in better visibility into financial transactions, enabling your firm to make informed decisions and allocate resources effectively.
Ultimately, improving cash flow and billing speed through integrated requisitions allows the firm to enhance its financial stability, strengthen client relationships, and operate more effectively in the legal practice.
What you can do to improve cashflow and speed up billing with integrated requisitions
Financial Director is integrated in Access Legal Case Management. This is crucial for streamlining processes, automating admin, tracking billable time quickly and easily, creating quotes, and improving data sharing between case management and accounts, while ensuring optimum compliance with Making Tax Digital for VAT.
Having Financial Director integrated within Access Legal Case Management provides a seamless, user-friendly experience that enhances financial oversight and operational efficiency.
Accounts operations have traditionally been a paper-heavy department, but using Financial Director linked to Access Legal Case Management can drastically reduce the paper you use and save money. Send electronic payment and receipt requests (e-chits) and draft bills (bill requests) to accounts directly from case files making both processes faster, more effective, and more accurate.
Bank account verification plays a crucial role in ensuring the security, accuracy, and integrity of financial transactions. By validating bank account details before processing payments, businesses and individuals can mitigate risks, prevent errors, and enhance overall transaction security. You can record bank information for clients, suppliers and other regular payees. These are verified and can then be selected on e-Chits. Once requested the bank info can be seen in Admin Tasks where accounts can clearly see if a verified account has been selected.
How to improve cashflow and speed up billing with integrated requisitions
Access our resources before for guidance on improving cashflow and speeding up billing with integrated requisitions:
Control your finances and remain compliant with a complete audit trail of transactions with our integrated financial management.