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Law firms see increase in business growth when they offer multiple payment options like online payments and payment plans. American Bar Association ABA affirms flexible payment plans can boost law firm profitability by 10%, increase payment collection rates by 32%.
Between growing client demands and the need to stay competitive law firms are increasingly adopting alternative payment arrangements to provide better client service like evergreen retainers. Learn more about benefits of evergreen retainers, when you should consider them.
As legal industry adopts modern practices due to client demand, law firms can introduce new, creative ways to offer legal services. With legal billing software and online payment processing, firms can offer clients different payment methods outside of traditional retainer.