by profitsolv | Aug 15, 2024 | Time and billing, TimeSolv
Whether you’re a fan or not, generative AI is now a major presence in many industries and is likely here to stay. Leading this charge is ChatGPT, an advanced chatbot developed by OpenAI with capabilities of processing human language to produce relevant, generally...
by profitsolv | Aug 14, 2024 | Time and billing, TimeSolv
Traditional payment methods—e.g., check or bank transfers—have long been seen as reliable, no-fail strategies for law firms to get paid. Most law firms want to do more than get paid, though: they want to grow. To grow, your firm needs payment solutions that: Meet...
by profitsolv | Jul 29, 2024 | Time and billing, TimeSolv
Understanding the financial health of a law firm is crucial, and a key aspect of this is grasping the concept of accounts payable. So, what is accounts payable (AP)? It refers to the money a firm owes to its vendors or suppliers for goods and services acquired on...
by profitsolv | Jul 25, 2024 | Time and billing, TimeSolv
Achieving financial stability is crucial for any law firm, and this often involves effectively managing two key types of transactions: accounts payable (AP) and accounts receivable (AR). Understanding the nuances of accounts payable vs. accounts receivable is...
by profitsolv | Jul 22, 2024 | Time and billing, TimeSolv
Invoice management might appear to be a minor detail in the grand scheme of business operations, but its impact on a firm’s financial health is significant. A well-structured invoicing system not only ensures a steady cash flow but also supports the seamless...
by profitsolv | Jul 17, 2024 | Time and billing, TimeSolv
Receiving an unexpected or confusing bill after a successful case can quickly diminish your client’s satisfaction with the outcome. Legal fees are often perceived as opaque, and errors or delays in billing can exacerbate this perception. To avoid leaving your clients...
