Cloud-based law practice management software provider Rocket Matter will later today (10 January) announce a software upgrade that will enable lawyers to automate client payment plans and recurring bills.
Within Rocket Matter Payments, lawyers will be able to automatically bill and collect money from clients on a monthly basis, with founding partner and CEO Larry Port (pictured) commenting: “On average, small law firms collect only 71% of what they bill, so a frictionless, effortless automated billing system can dramatically drive up cash collections for a law firm.”
Payment plans will enable lawyers to set an amount for an invoice and charge clients on a monthly basis until the balance is paid off. With recurring billing, lawyers can charge a recurring monthly fee for the service – a popular option for attorneys offering alternative fee arrangements.
Rocket Matter, which is headquartered in Florida and typically focused on the smaller law firm end of the market, was launched in February 2008 as the first legal practice management system in the cloud.
In June last year, it rolled out gamification for law firms that are new to its time and billing program, with new users earning coins as they complete new training tasks.