This blog deals with how a law firm can benefit from online check printing and how they can send check through mail.
Efficient payment is the lifeblood of law firms. It acts as a financial pulse that helps the firms to run smoothly, ensure profitability, and improve relationships with clients. Whether you are running a small firm or a large firm dealing with high caseloads, efficient payment management is essential to improve your financial health.
Before looking at how a law firm can efficiently manage their payments, let’s see what are the common payment challenges faced by them.
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Cash Flow Issues
Law firms, whether small or large, often face delays in receiving payments from clients. In a situation like this, it would be hard for them to pay high transaction fees on top of making payments.
Diverse Payment Preferences
A law firm may have multiple clients, and each client may prefer different options to receive money. There may be clients who still prefer getting settlements via checks due to the paper trail it offers.
Payment Delays
Law firms often deal with sensitive matters like settlements, retainers, etc. Timely payments are crucial to build trust with clients. It shows that the firm is reliable and accountable and also encourages the clients to return to the firm for future legal services.
Document Attachment
Legal professionals are required to keep transparency in financial transactions. Attaching relevant documents, such as invoices, settlement breakdowns, or explanations of legal fees, helps the clients understand the purpose of the payment.
Payment Record
Law firms must record each of their payments for future audits or disputes. Payment records help to understand what has been paid and what is still to be paid. It minimizes errors and makes sure that clients are billed accurately.
Security Issues
Around four in ten law firms reported being victims of security breaches last year. 56% of them experienced a loss of financial data. So, having a payment platform that guarantees security is essential for a law firm to maintain its reputation.
How Can You Overcome These Payment Challenges?
Cloud-based platforms are the most effective solution. Studies show that 31% of law firms are using cloud-based solutions for document storage and automated workflows. Around 95% of law firms agree that implementing technology has improved their ability to fulfill their client’s needs. Moreover, 84% of firms confirm that technology has helped them in minimizing the delivery time of services. Zil Money is a cloud-based platform that can help a law firm to solve all their payment-related issues.
Now, let’s see how Zil Money can help a law firm to solve their payment issues.
Get Checks Easily and Quickly
As mentioned earlier, many law firms face cash flow issues because of late payments from clients. So, for them, a payment solution that is affordable and convenient is necessary. Zil Money offers a check printing feature that allows users to print checks on demand. Unlike pre-printed checks, these checks are easily available and cost-effective. You can print checks on blank stock papers using the check printing software. This allows you to save 80% of your check printing costs compared to ordering pre-printed checks.
Customize Your Checks Effectively
Customization is a mark of professionalism. Customizing checks with law firm logos, names, and other branding elements reinforces professionalism and trust. You can customize your checks easily with Zil Money. Firms can use the drag-and-drop feature on the platform to create checks that showcase their brand. They can easily add background images, unique font styles, and more on their checks with the platform.
Send Checks Swiftly
Zil Money helps a law firm to send checks quickly. With the platform you can send checks digitally as well as physically. While sending physical checks, law firms do not have to worry about the manual processes that are usually involved. The platform will do everything from printing, labeling, and enveloping your checks to sending them via USPS/FedEx.
Using the platform, the law firm can decide when their client should receive funds. The platform offers an overnight check mailing feature that ensures the next-day delivery of checks. Then, there is a first-class mailing feature that delivers your check within 1-5 business days. After that, you have priority mail and express mail feature that delivers your checks within 1-3 business days and two business days.
The check-by-mail feature offered by the platform lets a law firm send even the most traditional method of payment, like a check, with digital convenience. With this feature, law firms can send their checks without any delay.
Using Zil Money, firms can send eChecks. eChecks are digital versions of physical checks and can be sent instantly. The cloud-based platform lets you send eChecks as one-time printable PDFs via email or SMS.
Attach Your Documents Easily
For a law firm, attaching documents along with payments is crucial to ensure transparency. Zil Money allows you to send documents with any number of pages easily, along with your checks. All you have to do is attach your document as a PDF file. The platform will print them along with your checks and will send them to your respective payee at an affordable cost on your behalf. This allows a law firm to ensure that all necessary information is provided in one package.
Efficient Security Measures
With Zil Money, a law firm can be certain that its checks are safe. The platform allows you to monitor your transactions in real-time. This allows you to make sure that your payments are headed in the right direction. Moreover, the platform helps you to have records of all your payments, which are necessary for auditing and tax purposes. It also helps to clear any disputes with clients.
Another security feature offered by the platform is positive pay. The feature pre-notifies your bank about the arrival of checks by providing a list of approved checks. Consequently, the bank will only process those checks. Any other checks presented for payments will be sent for further verification.
Multiple Payment Options for Your Multiple Clients
With Zil Money, a law firm does not have to worry about the multiple payment needs of their clients. A single subscription to the platform gives you access to multiple payment options. You can send payments to your client via ACH, wire, credit cards, and more. All these payments can be made at an affordable cost. This makes Zil Money an all-in-one platform that can fulfill all your payment demands.
Conclusion
Using Zil Money, a law firm can overcome all the payment challenges that they typically face. The platform’s ability to send checks through mail quickly allows firms to make payments on time without any delay. Moreover, the flexibility to attach documents along with checks helps them to maintain transparency.
