No area of the law is known for being particularly “simple,” but mass torts litigation is in a league all its own.
With multiple plaintiffs, defendants, and varying local laws to keep track of, law firms that manage mass tort cases are under a tremendous amount of pressure to complete their work quickly, efficiently, and on budget. And with the stakes so high, even a simple mistake can be costly.
That’s where legal technology comes in. With the right tools in your pocket, you can serve your clients with the highest possible degree of efficiency—saving everyone time and money along the way.
1. Legal billing software
Many mass tort firms rely on contingency fee structures to bill clients. But you shouldn’t wait until a case is closed to start thinking about billing. With so many clients to invoice and collect payments from, it pays to plan ahead (literally).
Without the right strategy and tools on your side, billing for mass tort cases can be tedious. If your firm has any hopes of being paid promptly and in full, you’ll need an organized approach.
Before you can bill for your time, you need to know how much time you’ve dedicated to your clients’ cases—and waiting until the end of the day, week, or month will result in lost time. In fact, according to the ABA, attorneys can lose up to 10% of their billable time if they wait until the end of the day to log their hours. For those who wait until the end of the week? That number can creep up to a shocking 25% loss of billable time.
But with legal time-tracking software, attorneys can avoid this problem—time-tracking software allows them automatically log their time while they work, from any device, so they never have to miss out on another billable minute.
With a large number of mass tort clients comes the need for a large number of invoices. Legal invoicing software allows attorneys to automatically populate their invoices with customizable templates, which can then be scheduled and sent out automatically. Better yet, you can also create batch invoices for multiple clients with similar line items.
No one wants to spend valuable time chasing down late or missing payments. With legal-specific payment solutions, attorneys can accept online credit card payments, increasing client convenience—and satisfaction. Law firms that accept online payments also have the added benefit of lowering accounts receivable and improving their cash flow.
Worried about security? Don’t be. TimeSolvPay uses the latest security and compliance measures.
FREE Legal Billing Terms Cheat Sheet
Legal billing terms can be confusing.
TimeSolv has prepared a list of the most commonly used legal billing terms that lawyers use in routine. It's a must to have it in your pinned files, sticky notes, or however you carry your essentials while practicing.
Download our cheat sheet and get all the information you need!
2. Digital document management
We don’t have to tell you that mass tort cases tend to involve a dizzying volume of medical records, depositions, and expert reports. As a result, staying organized can be a challenge, even for seasoned attorneys.
To avoid misplacing clients’ paperwork, digital document management is a must . Don’t expect a series of standard Google Drive or Dropbox folders to cut it, though.
Look for a legal document management solution that offers secure document sharing, advanced search capabilities, and the ability to link documents to specific cases or clients. Integrations for obtaining simple, secure eSignatures are also a plus!
Not only will this tool make attorneys’ lives easier, but it will also increase the speed with which client information can be managed and accessed by all team members.
3. Attorney-friendly project management tools
Due to the sheer size of each case, mass tort litigation is truly a team sport. But keeping track of multiple attorneys’ tasks and deadlines can be a challenge, to say the least.
Standard project management software tools aren’t intended for legal work. So instead of trying to fit your workflows into a generic project management software, consider seeking out one that’s designed for an attorney’s workday.
Legal-specific project management software helps your firm:
- Customize project templates
- Set and adjust matter budgets
- Limit billable hours for clients or projects
- Set milestones for automatic billing
- And more
As an added bonus, legal-specific solutions are more likely to uphold ABA standards for keeping sensitive client information private—meaning you can attach client phone numbers, emails, and other useful information to tasks for greater efficiency.
4. Mass tort-friendly trust accounting
Most clients join mass torts in the hope of a settlement payout. And while attorneys also appreciate a nice payday, managing payouts to dozens upon dozens of clients can be a trust accounting nightmare.
Simply put, manually managing bank reconciliations and ledger management for so many clients is out of the question—especially if you’re hoping to preserve billable hours at your firm.
Fortunately, legal trust accounting software makes it possible to secure online payments, conduct automatic reports such as three-way reconciliations, and handle client ledger management for all of your clients with ease and accuracy. Automated trust reports and audit trails add an extra layer of peace of mind, so you can focus your time and energy on offering the best client service possible.
5. Reporting features you’ll really use
You’ve got data to manage—and time, too! Drawing up complicated reports in Excel isn’t feasible for your firm. Still, reports are essential, whether you’re collaborating with co-counsel or making efforts to improve your law firm’s productivity and profitability.
Look for legal software that includes automated reports with customizable date ranges and flexible formatting. You’ll save the reader’s time as much as your own by eliminating distractions and communicating only the most crucial information.
Remember, though, that even the most visually appealing report is only as good as the information used to create it.
Choose a legal software that provides detailed reporting features, so you can visualize and share data about:
- Billable hours
- Accounts receivable
- Trust accounting
- And so much more
This information can be extremely useful when calculating the profitability of each mass tort case and planning whether to accept additional mass tort cases in the future.
Mass tort litigation is more efficient with TimeSolv on your side
Do you want to improve the outcomes of your mass tort cases (and client satisfaction along with them)? Eliminating redundancies and maximizing opportunities to focus on legal work, rather than administrative tasks, is a great place to start.
But you don’t have to be an expert on legal technology to do so. Let TimeSolv help you get there!
For two decades, TimeSolv has provided thousands of attorneys with web-based solutions that simplify their workloads and boost their productivity. As a result, we understand the roadblocks your firm may be facing. We’re committed to developing accessible, easy-to-use solutions that improve law firms’ financial well-being while enhancing client service along the way.
Start your free trial of TimeSolv today.