Law firms thrive on efficiency, and a well-chosen tech stack is essential to streamlining day-to-day operations. But with countless options to choose from, where do you begin?
For starters, every firm should take these key considerations into account:
● Do your software solutions integrate with one another?
● Will your software support business growth and scale with you?
● Are your software solutions ideal for outsourcing to vendors or including team members?
Focus on building a solid foundation.
At Main Accounting Services, we work with law firms to prioritize software tools that simplify workflows, enhance communication, and ultimately, drive growth. It is important to keep in mind that the “ideal” tech stack is unique to your firm’s specific needs, with tools that are easy for your team to learn and use. Here are some basic guidelines and recommendations.
- Accounting
○ There are many accounting software programs available for small businesses. The most commonly used and most supported by accountants is QuickBooks Online – and it is the program we recommend most often. Be aware that a lot of law firm CRMs are now including accounting modules in their software. We have reviewed many of these options and not all are “ready for primetime,” so don’t hesitate to ask us for recommendations. - Payroll
○ With any payroll software, you’ll want to make sure you can perform many payroll related functions such as time tracking, PTO tracking, performance reviews, expense reports, and the ability to integrate employee benefits.
○ For law firms that bill their clients by the hour, it is critical to have a solid time-tracking system in place so you don’t lose billable hours. Most law firm billing software offers time tracking.
○ Even if you don’t bill by the hour, it is important to keep track of hours for your employees – especially those who are paid by the hour or are salary non-exempt. Selecting a full-service payroll solution that can be mapped and synchronized to your accounting software is ideal.
○ We highly recommend Gusto. - Case Management
○ No two law firms are exactly the same, and the good news is there are many law firm case management software packages to choose from. However, while they all claim to be the best, choosing the best option depends on the type and size of the firm. For instance, Clio and MyCase are popular choices, but they are not always the best solutions for Immigration or Estate Law.
○ We recommend discussing the firm’s needs and coming up with the best software to fit those needs. There are legal consultants and some law firm accounting companies like Main Accounting Services who can help law firm owners make this decision. - Additional Software Solutions
○ When building out your tech stack, be sure to consider essential software solutions, including document management, password storage, merchant services, procedure management, email, calendars, internal and external communications, and office products (MS, Google, etc.).
○ Focus on cloud-based solutions that eliminate the need to be in the office and attached to a computer.
Don’t be afraid to experiment and find what works best for your firm, and remember to review your tech stack regularly to ensure it aligns with your evolving business needs. At Main Accounting Services, we love helping law firm owners identify and select the ideal software solutions to support their unique accounting and business functions. Schedule a free consultation here.