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The Importance of Practice Management Software For Solo Firms

Today it’s more important than ever for solos to learn how to leverage technology to get an edge on their competition and deliver superior client service. Surprisingly, according to the ABA Tech Report 2015, only 30% of solo practitioners reported actually using a practice management software currently. That’s unfortunate, because utilizing the right software can help level the playing field for solo practitioners, giving them access to the same type of professional technology that powers larger firms.

Possible reasons for the low adoption rate amongst solo firms could potentially include concerns over the expense, a general lack of awareness of some of the most important benefits, and/or concerns about trying a new way of doing things. Fortunately, all of these concerns can be dismissed by diving a little deeper into what the software can actually do for your firm.

The Expense

As a solo practitioner, you’re in business for yourself, and as such, every expense matters. There are only a few expenses the firm is likely to incur that can actually help it make more money in the end. A good practice management platform will do exactly that, offering continual ROI in the form of increased revenue and a decrease in administrative time and expenses.

According to Blue Hill Research, a technology consultancy, firms that employ practice management software averaged 40% fewer support staff than those that did not. Imagine the savings implications of spending 40% less time to capture the same amount of billable time and accomplish the same amount of tasks.

The Benefits For Solos

In addition to the reduction in administrative costs, a good cloud based practice management platform will likely help boost your monthly revenue and give you instant access to all of your important case files from any device. This is especially important when you’re on the go or in communication with a client or another attorney and need to answer questions quickly. Time and expenses can literally be captured as you work, without having to go back later and retrace your steps.

Solos who collaborate extensively, or participate in a lot of court-related activity, will find the ability to share important files securely and the ability to view their daily, weekly and monthly schedule at a glance to be invaluable.

Finally, centralizing all of your important information will help keep you more organized and enable you to scale your business in a much more reliable fashion, should you choose to bring on other staff members or attorneys.

A New Way Of Doing Things

Motivational speaker Tony Robbins once said “By changing nothing, nothing changes.” This is certainly true within your practice. When it comes to practice management software, it’s all about taking that important first step.

With convenient features like document assembly, matter templates that help shape your workflows, and comprehensive reporting to track and analyze all of your firm’s data, a reputable practice management software can help boost your productivity and can literally change the way you practice law. You’ll also be helping to secure your data and improve your client service.