With technology taking the leading role in many business endeavors, law firms face copious issues. Whether that be the insecurity of data or potential cyber-attacks, there is no doubt that appropriate practice management is essential. At Circle Management Group, we advise on and implement practice management solutions. Get in contact with us today for a tailored solution for your firm.
What is Practice Management?
Practice management is the study and practice related to business administration. It is the process by which nitty gritty business aspects are managed, such as workloads, finances, and software implementation. Businesses deploy independent practice management to manage these aspects through one simplified and efficient workflow.
Law practice management operates similarly, with a practice manager taking on administrative tasks such as billing time, lawyer and client management, and legal software implementation. Practice management can be undertaken by a firm partner, another internal body, or an independent advisor.
Debate continues over the law as a profession versus a business, with many erring on the side of profession. When lawyers take on business tasks themselves, the line between law and business becomes blurred. Lawyers often find themselves with extensive workloads incorporating both legal and business aspects, leading to difficult decision-making and a lack of specialist advice and expertise.
We believe that an independent and impartial advisor best approaches legal practice management. By implementing practice management, you will know that your firm’s business aspects are in good hands, leaving you more time to focus on the legal details.
Get in Contact with Circle Management Group
At Circle Management Group, we are an independent consulting firm that can take hold of your firm’s practice management. Based on your unique workflow, we can offer a focused solution. We advise on and implement legal software guaranteed to drive innovation, efficiency, and success in your firm.
Get in contact with us today for your legal practice management solution!
How do Law Firms Benefit from Practice Management?
Having an all-in-one solution is one of the best ways to heighten your firm’s efficiency, innovation, and profitability. Read on as we break down five benefits of practice management in law firms:
Holistically Improved Workflow
Practice management systems equip your firm with the tools needed to streamline and automate business administration, driving efficiency and productivity in other areas. Your team of lawyers can achieve more throughout the day without having to allocate time to cumbersome business tasks. With a streamlined approach management system, your administrative tasks can all be completed in one place and left to the business experts.
Integration is the critical feature of any practice management system. Gone are the days of piecemeal software implementation, where lawyers would locate data and technologies from many different places. With an integrated approach, your firm can save time and money by having everything easily locatable and accessible.
More Billable Time
Implementing practice management means that business decisions are left to the experts, while client-focused matters are enriched. This increases billable time, by maximizing the amount of time you can spend on your clients.
Here are a few ways by which practice management systems can increase billable time:
- Streamline administrative tasks: Practice management systems can store your firm’s important information in one easily accessible place. This minimizes time spent on locating data and having to enter it repetitively. Additionally, clients can electronically enter data themselves, limiting the time lawyers spend on these tasks.
- Automated processes: Automation tools can speed up specific administrative processes. For example, it can rapidly reproduce standard templates or automatically track time and expenses.
Improved Client Experience
Improving your clients’ experience is the key to success in the legal world.
Here are two ways that practice management systems can enhance the client experience:
- Intake process speed and security: Practice management software can securely store client information with access control and tracking. Having the client directly enter data minimizes time spent on manual data entry by lawyers.
- Increased client time: With business decisions left to practice management, lawyers can spend more time with their clients. Clients will then have a more valuable experience with the firm.
Cybersecurity risks are ever present in the modern world, with law firms no exception. Hackers can access a broad range of valuable information through lawyers, clients, and businesses, making firms of all sizes an easy target.
How practice management can improve cybersecurity risks:
- Security features: Practice management software has data encryption to ensure maximum security. The parties that can obtain documents and information from the software are limited. Additionally, cloud-based systems offer protection in saving and backing up data in case of an external event.
- Secure client information and communication: Practice management systems are well-equipped to securely store essential data and fuel confidential communication and collaboration.
- Secure payments: Practice management systems can safely store transaction and payment information.
What Circle Management Group Can Do for You
At Circle Management Group, we believe lawyers and their firms are better placed to reach their maximum potential with an appropriate practice management solution. As independent partners, we have a broad range of functions. By implementing a customized practice management system for your firm, we can:
- Capture more billable time
- Increase revenue
- Reduce risk to your firm
- Streamline documents and workflows
Contact Circle Management Group today for your focused practice management solution!