LegalXGen Addressing Revenue Leakage For Law Firms

by Irayya M
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The lawyers working on hourly rate often leak significant revenue in absence of an efficient system. Fractional time spent on calls and other activities, largely go unaccounted, which when compounded together can increase a firm’s revenue by at least one third as per studies.

This happens because firms often don’t track time or if they do use spreadsheets, a process that becomes inefficient as the business grows and which often leads to incomplete time data, as well as delayed invoicing or invoicing that, is lower than it should be.

For instance, a Law firm of 50 practitioners fails to record an hour each of an associate every day. The monthly hours lost cumulates to 1000 hours, which could have been billed otherwise. An average practitioner charges INR 2000 per hour. Hence the loss amounts to INR 20,00,000.

LegalXgen helps seal such leakage can be tapped at negligible cost. With our system, Legal Practitioners not only bill more hours but also receive the revenue quicker.

Listed below are few of the areas of your day to day practice where LegalXGen helps in saving time and sealing revenue leakage:

  • Increased number of billable time.
  • Saving time in task delegation.
  • Easy search and storage of documents and knowledge.
  • Easy tracking of matter related information.
  • Easy and fast creation of invoices.
  • customized reminders and system generated emails for payment follow-ups.
  • easy management, record and reimbursement of expenses,

      and much more.

To summarize it all, we at LegalXGen do not do the different things, but we address the same and common problems differently to ease their practice.