ATLANTA – May 13, 2019 –– Orion Law Management Systems, Inc. (“Orion”) (www.orionlaw.com), a leading provider of Financial and Practice Management software for law firms, recently conducted the inaugural 2019 Orion Collections Survey among 3000+ of its U.S. customers. The goal of the survey was to benchmark the top challenges that legal administrators and billing professionals faced with billing collections.
Respondents were asked what the #1 challenge their law firm faced with collections, and were given 4 choices: Timing, Tone, Policy and Enforcement. The survey results were as follows:
- 57% of respondents named Policy, defined as setting a universal payment and collections policy that applied to all clients.
- 29% of respondents chose Enforcement, namely approaching clients about late payments once they become overdue.
- 14% of respondents selected the Tone used when contacting clients to get payment, realizing the risk of offending them in the process.
- Zero respondents chose Timing, showing that law firm professionals were quite confident gauging how long to wait until asking clients to remit owed money.
Kevin Harris, Project Manager at Orion, remarked: “The process of accounts receivable ‘AR’ collections is both an art and a science. Collections are absolutely essential to fully realizing accounts receivable at a law firm. When analyzing the 2019 Orion Collections Survey results, we were surprised that Policy was the most vexing collections challenge that law firms reported. This shows how difficult it is for firms to create rules amid a sea of exceptions for legal clients. The Enforcement and Tone statistics were more in-line with the equally distributed numbers that we expected. The fact that no one chose Timing is promising, though, representing perhaps that law firms have already developed strategic schedules for collections that serve their interests effectively.”
For more information about the 2019 Orion Collections Survey or Orion’s AR Collection Manager software module, email info@orionlaw.com.
About Orion Law Management Systems, Inc.
Founded in 1985, Orion Law Management Systems, Inc. is dedicated to providing law firms with proven law practice management software. Utilizing a complete practice management approach, Orion is a fully integrated law management system employing the very latest in reliable technology. Orion centralizes your Financial Management, Firm Management and Practice Management delivering the competitive advantage that law firms need to succeed. Orion’s AR Collection Manager Module effectively manages Accounts Receivable at law firms, increasing cash flow and decreasing time and cost. Orion Law Management Systems, Inc. is headquartered in Atlanta. For information visit www.orionlaw.com, call 1.800.305.5867, email info@orionlaw.com or follow us on Twitter @Orion_Law.