It’s no secret that legal services can be expensive, and not all clients can afford to pay upfront. Some may desire more flexibility and transparency in what and when they have to pay. Law firms also shouldn’t have to turn potential clients away due to the lack of flexible payment options.
To provide a convenient way for law firms to accept payments and address this financial challenge for clients, Bill4Time is excited to announce our launch of fully customizable payment plans. Payment plans give your clients the flexibility and transparency they need to make payments in a way that works best for them, whether it be weekly, monthly, or some other frequency, while allowing law firms to better project incoming cashflow. Let’s explore how it works.
Give Your Clients the Financial Flexibility They Need and Take Control of Your Law Firm’s Collection Rate
With Bill4Time Payments, law firms can accept online payments via credit card, ACH, and eCheck, and create customize payment links all within one platform. Now, with the addition of payment plans, law firms can offer clients payment flexibility by allowing them to pay in smaller increments over a given time frame.
Payment plans in Bill4Time are fully automated, meaning that once you have set it up with your clients, there are no additional steps you need to take — making it easier for law firms to collect recurring weekly or monthly payments from clients. Payment plans allow you to completely customize the way your client pays down their invoice. You can alter the installment amount, the number of installments, and even the frequency of payment.
Full Transparency Every Step Of The Way
Both law firms and clients are notified of transactions and payment statuses via email every time a payment has been processed to maintain transparency. In the unfortunate event that a payment fails, Bill4Time will send an automated email reminder to your client’s email to update their card information. This way, you can ensure your law firm is not missing out on any missed payments due to card errors.
Each installment made by your clients will be visible in the History Tab to allow easy access and payment status tracking for your staff. This payment tracking can help law firms to gain a detailed understanding of their financials and identify problem areas as needed.
Ease Your Clients’ Financial Burden with Payment Plans
With payment plans, law firms can now minimize the need to chase after missing payments from clients. Payment plans ensure law firms stay on top of their collection rate while giving their clients the flexibility to pay for their legal services in smaller increments.
By providing payment plan options to your clients, you can position your law firm competitively in the market, boost client satisfaction, increase your firm’s reputation, and ultimately attract more businesses.
If you’d like to learn more about payment plans in Bill4Time, start your free trial today or speak with our team.