The accounting department of a legal business plays a pivotal role in the delivery of legal services and the smooth running of the firm. As money is the lifeblood of any organisation, the correct and efficient management of finances is of utmost importance to both partners and practice managers.
Access to data, ease of use, compliance and data security are the main concerns of legal cashiers and cloud-based legal accounting software ticks all the boxes. The system removes the costs and limitations associated with the traditional model (where the software is installed on the firm’s own servers), namely:
- The costs of maintaining servers
- The costs and complications of backing up data and updating the software
- Limitations on the amount of computers running the software
- Limitations on the amount of people able to access the software
A web-based system, like Financial Director offers the following indisputable benefits:
- automatic updates. Your legal cashiers will always be using the best and latest version of the product you bought
- access from any device, be it a laptop or a desktop. This also means that outsourcing becomes a more feasible, accessible option for your firm as the user can work from anywhere (a remote office or home).
- cyber security. Even though it’s hosted ‘in the cloud’ (in our secure, ISO accredited data centre), access to your financial package is very well controlled. Each user needs a username and password to log in and will be able to see different information based on its status (fee earner or legal cashier).
- the state of your office will not affect the state of your data. Fires, floods and other disasters will not compromise the accuracy and integrity of your information.
- Cloud-based legal accounting software also opens up the other hours of the clock. Because it is accessible online, the system will allow managing partners to track the financial situation of their firm at any time, even when away on holiday. Our system offers comprehensive reports that can be viewed per branch or per system as a whole, and can be scheduled to be delivered periodically or downloaded on an ad-hoc basis. This can be done from any location with Internet access.