Legaltrek provides a cloud-based, Software as a Service (SaaS) Practice Management Solution for medium to large size law firms. With Legaltrek’s platform law firms can
- model their billing structures in a simple and easy way. Each person’s work can be priced in a different way, depending on a variety of different pricing per hour, day or flat rate structures
- implement alternative pricing schemes based on success fee, fixed fee, fee cap or other
- enable their principals to easily and intuitively collect the time spent on each task or matter and report on a projects progress along the way
- handle upfront payments by creating flexible retainer accounts for each client, to be used when needed
- standardize their invoicing procedure, customize the look and feel with own company logo, corporate header, footer, signature and more
- individualize their invoices by adding personal message, reflect client specific discounts, flat fees and special promotions
- automatically generate cash flow reports to keep an eye on the firm’s cash flow and performance in real time. The cash flow reports will help to analyze financials and predict overdue invoices, overall expenses, and firm’s current and expected income.
- create and manage escrow account in order to simplify the billing process with their customers
July 16: Legaltrek registers its new legal entity Legalrek GmbH, opens its office in Berlin and starts hiring sales and marketing people.
Dec 15: We got an initial funding (Seed I) from Bulgarian Seed and Venture Capital investors.
July 15: I met the two founders Ivan Rasic and Aleksander Gvozden for the first time in Berlin.