Accounting/Finance

What is Accounting/Finance?

Accounting and finance software applies accounting principles to law firm operating accounts, client trust accounts, and Interest on Lawyers’ Trust Accounts (IOLTA) — a method of raising money for charitable purposes, primarily providing civil legal services to indigent persons.

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Top Products in Accounting/Finance

firmTRAK Solutions

Maryland State Bar Members Now Get Free Trust Accounting Software in Deal with Smokeball

Lawyers who are members of the Maryland State Bar Association can now get free access to trust accounting and billing software, through a partnership between the bar and the law practice management company Smokeball. Under the partnership, all 18,000 members of the MSBA, which is a voluntary state bar, can sign up for free access...

How It Works: A Demonstration of MyCase Accounting Software

This week on How it Works, we have a walkthrough of MyCase Accounting software, presented to me by Sales Engineering Manager Lindsay Bushong. MyCase Legal Accounting, in their words, “is easy-to-use accounting software built seamlessly into the MyCase practice management platform to meet the unique business needs of law firms. An end-to-end solution, MyCase’s legal...

Above the Law Tech News

MyCase Announces New AI, Accounting, And Immigration Features, Plus Update on Smart Spend

Earlier this week, the law practice management platform MyCase rolled out three exciting product updates. The post MyCase Announces New AI, Accounting, And Immigration Features, Plus Update on Smart Spend appeared first on Above the Law.

MyCase Announces New AI, Accounting and Immigration Features, Plus Update on Smart Spend

The law practice management platform MyCase rolled out three product updates today that include MyCaseIQ, an AI conversational interface; enhancements to its accounting module; and an immigration add-on. It also announced the beta release of Smart Spend, a product that marries a business credit card to expense tracking within MyCase. Generative AI Enhancements Last January,...

Legal IT Insider

Elite Vantage: The key takeaways as Elite’s message hits home

Elite’s first proper London/Europe conference since it split from Thomson Reuters was a fairly packed affair last week, with its product updates, roadmap and client briefings well received by industry [...] The post Elite Vantage: The key takeaways as Elite’s message hits home appeared first on Legal IT Insider.

Caroline Hill - Editor-in-Chief

Legal IT Insider

London law firm Forsters set to go live with 3E Cloud and eBillingHub

London law firm Forsters is about to go live with 3E Cloud from Elite in the final major step of its cloud journey. The 300-lawyer firm has also selected e-billing [...] The post London law firm Forsters set to go live with 3E Cloud and eBillingHub appeared first on Legal IT Insider.

LawNext: Oddr CEO Milan Bobde On How AI Can Help Law Firms Stem Revenue Leakage and Turn Invoices into Cash

Can AI help law firms stem revenue leakage and more efficiently turn their invoices into collected cash? That is the premise behind Oddr, a legal tech startup that recently launched what it says is the legal industry’s first AI-powered invoice to cash platform, centralizing law firm billing, collections, payments and reconciliation in a single product. At...

Legal IT Insider

Oddr expands into APAC with Pickering Pearce as implementation partner

Silicon Valley-founded ‘invoice-to-cash’ startup Oddr is expanding into the APAC region with law firm consultancy firm Pickering Pearce as its implementation partner in the region. Oddr was founded in 2022 by three [...] The post Oddr expands into APAC with Pickering Pearce as implementation partner appeared first on Legal IT Insider.

Legal IT Insider

Aderant announces it has 170 Expert Sierra clients

Aderant announced today (5 March) that the company now has 170 Expert Sierra clients. Expert Sierra is Aderant’s Amazon Web Service-hosted practice management system. Practice management has been one of [...] The post Aderant announces it has 170 Expert Sierra clients appeared first on Legal IT Insider.

In A Law Practice Management Deal, MyCase Sells Off Accounting Software Soluno to Actionstep

AffiniPay, the parent company of law practice management company MyCase, has sold off the legal accounting software Soluno to another law practice management company, Actionstep, in what the New Zealand-based Actionstep says is an important milestone for its expansion into the U.S. and Canadian markets. MyCase acquired the cloud-based Soluno in 2021, saying at the...

Law.com's Legaltech News

Actionstep Acquires Legal Accounting Software Soluno From AffiniPay

Actionstep’s acquisition of Soluno is its third M&A deal in the past year and its second in the past month.

Law.com's Legal Tech News

Law.com's Legaltech News

Generative AI Legal Research Startup Paxton AI Secures $6 Million in Seed Funding

Despite investment in legal tech slowing down for much of the year, generative AI-powered platforms are bucking the trend.

Law.com's Legal Tech News

LawNext Podcast: The Florida Bar’s Precedent-Setting Decision To Give Every Lawyer Access To Trust Accounting Software

In a first for a state bar, The Florida Bar is providing its entire membership of more than 111,000 lawyers with access to legal trust accounting software – a move designed to both help lawyers better comply with trust accounting rules and help protect members of the public from trust accounting errors. The initiative was spearheaded by F. Scott Westheimer,...

Legal IT Insider

Guest post: Why Elite and ProLaw didn’t work at TR

By Bill Bice, CEO of nQ Zebraworks; former founder and CEO of ProLaw Software and then at TR, West km. The vision was there. The execution wasn’t. West’s acquisition of ... Guest post: Why Elite and ProLaw didn’t work at TR Read More » The post Guest post: Why Elite and ProLaw didn’t work at...

Caroline Hill - Editor-in-Chief

Thomson Reuters Spins Off Elite As Independent Company Now Owned By Asset Manager TPG

It is a day of major legal tech deals. Following news earlier today of the merger of Fastcase and vLex, now comes news from Thomson Reuters that it is selling off a majority stake in Elite, its suite of law practice management and financial products for larger law firms, to TPG, a global asset management...

Law.com's Legaltech News

Thomson Reuters Sells Majority Stake in Elite Product Business to TPG

As part of the sale, Thomson Reuters will maintain a minority stake in Elite , which includes 3E, ProLaw, eBillingHib and Mattersphere, and actively support its ongoing development.

Law.com's Legal Tech News

Legal IT Insider

Breaking news: TPG to acquire majority stake in Thomson Reuters Elite

European late stage private equity firm TPG has agreed to buy a majority stake in Thomson Reuters Elite at a valuation of $500 million. The announcement was made internally at ... Breaking news: TPG to acquire majority stake in Thomson Reuters Elite Read More » The post Breaking news: TPG to acquire majority stake in...

Caroline Hill - Editor-in-Chief

New CEO at SurePoint, Eric Thurston, Says His Focus Will Be On Customer Service And Company Growth

SurePoint, a company that provides practice management, financial and client relationship products for mid-sized law firms, today announced the appointment of a new CEO, Eric Thurston, a veteran business-transformation leader with more than two decades of experience scaling and leading high-growth software and services companies across several verticals, including legal. Venture investor Mike Suchsland, a...

LeanLaw, Cloud-Based Legal Financial System for Law Firms, Raises $4M Series A Round

LeanLaw, a company that provides a financial operating system for small and mid-sized law firms, said today it has raised $4 million in a Series A financing round led by FINTOP Capital. Based in Boise, Id., LeanLaw’s cloud-based product provides IOLTA trust accounting, time and expense tracking, billing, matter management, electronic payments, and reporting. LeanLaw...

Filevine Unveils AI-Driven Immigration Forms, Accounting Integration with Oracle NetSuite, and A Broad Vision for AI

At its LEX Summit user conference this week, the law practice management company Filevine made two major product announcements, and its CEO outlined a broad vision for incorporating AI throughout the company’s products. The first of the two product announcements is a feature that uses artificial intelligence to translate client documents and then extract and...

New Tool from Helm360 Automates Firms’ Testing of Elite 3E Implementations to Save Time and Cost

The folks at Helm360 have been putting their knowledge as a full-service IT company to another use of late, developing products that build on their experience implementing technology solutions for legal and professional services firms. I wrote about one of these products in May, Termi, an AI-enabled chatbot that aims to solve the problems of slow tech...

MyCase Rolls Out Built-In Accounting and Integrated Document Automation

It has been a notable year for the practice management company MyCase, one in which it made four notable acquisitions of other practice management products, and then itself was acquired by AffiniPay, the parent company of the electronic payments platform LawPay. Today, we are seeing the fruits of two of those acquisitions, as MyCase rolls out...