Like other professional service sectors, there is little margin for error in the legal industry. In order to remain compliant, law firms must keep case and client records securely confidential as well as robustly track billing and bookkeeping. Without a top-notch law practice management software package, these tasks, among others, are near impossible in the digital era. Two of the most popular law practice management software programs, especially for small to medium size firms are CosmoLex and Clio.
Clio
Clio was launched in 2008 and has been widely adopted in the intervening years. It is arguably the most comprehensive cloud-based management software for the legal industry. To showcase their product, Clio offers firms a free trial with no credit card information required. The company offers three different product plans depending on the needs and budget of a firm.
Product Plans & Pricing
Starter Plan – $39/user/month (billed annually) or $49 (month-to-month)
- Basic package loaded with essential tools including:
- Performance dashboard
- Responsive, multi-channel support
- Custom invoices and templates
- Time tracking
- Secure client portal: Clio Connect
Boutique Plan – $59/user/month (billed annually) or $69 (month-to-month)
Next-level package that carries all Starter plan features plus:
- Accounting integrations
- Custom fields
- UTBMS coding
- Zapier integration
- API access
- Data escrow
- Sortable custom fields
- Alternative free billing
- Payments
Elite Plan – $99/user/month (billed annually) or $109 (month-to-month)
Includes all Boutique plan features plus:
- Priority Support
- Originating Attorney Revenue report
- Court calendaring rules
- Matter Budgets
- Campaign Tracker
Features Lacking
Notable features that Clio does not offer that include:
- Conflict of Interest Checking
- Ability to track Retainers
- 128 Bit Encryption
- Financial Reports
- Trust Account Reports
- General Ledger
- Check Requests
However, some of the aforementioned features can be fulfilled via integrations Clio offers. Clio integrates with well over a dozen applications, including favorites like the popular file management program, Dropbox, and the accounting program, Quickbooks.
CosmoLex
CosmoLex came relatively late to the cloud-based law practice management software space. However, since their arrival in 2013 they have been gaining traction and market share. As a newer software, CosmoLex is more intuitive than its competitors and boasts particularly robust accounting features. Like Clio, CosmoLex offers a free trial with no credit card information required. The company offers two different pricing plans depending on whether a firm pays annually or monthly.
Pricing
- $49/month/user (billed annually)
- $59/month/user (billed monthly)
Product Features
- Law Office Accounting
- User Management
- Document Management
- Secure Client Portal
- Email Management
- Practice Dashboards
- Bank-Grade Security
- Electronic Billing
- Billing and Payments
- Calendar Management
- Task Management
- Time and Expense Tracking
- Credit Card Tracking
Features Lacking
Notable features that ComoLex does not offer include:
- Accounts Payable
- Accounts Receivable
- Online Bill Payments
- Client Portal
- Document Assembly
- Email Integration
ComoLex does not offer as many features as Clio, for example CosmoLex cannot integrate with the professional standard, Microsoft Office. Another shortcoming, is that unlike Clio, CosmoLex does not offer a native mobile app. The true redeeming quality of the software is CosmoLex’s accounting capabilities, which render the need for a separate Quickbooks, or other accounting software package, unnecessary.