The legal industry is often lenient when collecting aging client balances in order to foster good client relationships and ultimately referrals. But now, firms that previously never experienced cash flow issues are feeling the effects of the current economy where clients are slower to pay and a higher percentage of balances are written off. Follow the steps below to help your firm develop an effective debt collection process.
The Juris Suite Collections module was created to help firms manage delinquent accounts and reduce time spent on collections activities. Your firm can identify past due balances, customize collection letters, track and document communications, exclude special arrangement clients and simultaneously produce communications for all past due clients. For additional information on adding the Collections module to your Juris system, contact your Juris representative or visit www.juris.com. For training on how to utilize the Collections module effectively, visit www.lexisnexis.com/university.