Industry Insight: Legal

Automation – a Winning Case

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According to a 2018 study, 23% of a lawyer’s workload is automatable – now imagine what that statistic must be for a legal firm’s finance team.

No matter the scale of your business, you have both office money and client money to take care of. Between payroll, supplier payments, and managing payments for clients, chances are you have plenty on your plate.

Thankfully, there’s an easier way to handle your payments and cash position. With AccessPay, you can wave goodbye to tiresome and risk-laden manual processes for good, providing you with extra time, resources, and reduced risk.

We help both local and international legal firms automate their workflows, providing easy wins across the board for you and your clients.

Right now, we’re willing to bet the following rings true for you…

Manual Processes are Getting You Down

 

Handling both internal and external payments can be a chore.

You’re faced with banking portal logins and the manual typing-in of payment details.

When cloud-based payments such as AccessPay’s are around to trim the fat from this process, there’s simply no need for the faff.

You’re Facing PMS
Issues

 

Often, the Practice Management Systems (also known as ERPs) used by law firms present a series of difficulties.

While they don’t need to be as complex as those used by other industries, they still risk putting a splinter in your banking operations.

For example, some systems don’t generate payment files, and others like Elite and Aderant have a reputation for complexity.

And, ultimately, the core problem still remains: they don’t natively connect to banks, meaning you’re stuck using cumbersome banking portal logins.

Automation Seems Like a Pipe Dream

 

For larger firms, automation is a must.

Firms with dedicated treasury teams will understand plainly the issues with manual processes, as processing both payroll and clients’/supplier payments become increasingly critical as a business scales up.

A system that offers payment and cash management automation often seems out of reach, but this isn’t the case. Given that you likely spend a considerable amount of time paying the same clients and checking your cash positions for incoming or outgoing funds, the thought of this being possible with as little work as possible brings obvious appeal.

Case Study

Law and legal industry image featuring wooden gavel

This multinational law firm has embraced payment automation to improve efficiency, security, and reduce the risk of manual errors among their busy global finance teams.

Making more than 20,000 transactions a month, the firm process several payment types through AccessPay, including payroll and supplier payments via Bacs, large pay-outs via CHAPS and SEPA transactions to European clients.

The ability to speed-up operational processes – accurately and securely – has been paramount to the global top 10 law practice as transactional volumes continue to grow.

Read More

Chat to Our Legal Expert Tom Livock

Having been with AccessPay since near its inception, there’s no one more qualified to discuss your banking modernisation needs than Tom.

Whether you’re a local law business looking to expand or a recognised multinational firm, he understands both the problems you’re facing and the solutions you’re after.

Tom-Livock-headshot



Why AccessPay?

Regardless of the nature of your firm, there’s never been a more vital time to modernise your banking operations.

Thankfully, AccessPay is here to help.

For smaller firms, we can help eliminate the manual processes bogging your operations down. Larger businesses with dedicated treasury teams will benefit from a fully automated, cloud-based solution that brings order to your operations. No matter your size, we’re the glue between your banks and back-office systems.

Not only this, but firms with multiple banks will reap the rewards of our Cash Management solution, which provides total transparency of your business’s funds by compiling your balances from across the world.

With AccessPay, you can see your total cash position, regain control of your banking operations through risk mitigation, and optimise your spending with the availability of richer data.

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