Maximising Revenue in Revenue-Sharing Firms: Tech-Enabled Tips for Billing and Payments

The rise of consultant lawyers and platform firms has transformed the legal industry, offering greater flexibility and autonomy. But with this shift comes a major challenge—managing billing and payments efficiently. Unlike traditional law firms, where salaries and fixed fees provide financial predictability, revenue-sharing law firm models require independent lawyers and firms to stay on top of cash flow, invoicing, and collections.

The good news? Technology can simplify the process. By leveraging legal billing and payments software, both consultant lawyers and platform firms can reduce admin, speed up payments, and ensure financial stability. In this blog, we’ll explore how the right tech—like Clio—can help both parties streamline legal billing, automate payments, and maximise revenue.

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Understanding the revenue-sharing model

Revenue-sharing law firms operate on a model where consultant lawyers work independently but share a portion of their earnings with the platform firm. This arrangement provides lawyers with greater autonomy and the potential for higher profits, while platform firms benefit from a diverse talent pool without the overhead of traditional employment structures.

However, this model comes with its own set of financial challenges:

• Delayed payments: Consultant lawyers may face inconsistent cash flow due to varying client payment schedules.
• Cash flow uncertainty: Both lawyers and firms must manage fluctuating income streams.
• Invoicing inefficiencies: Manual billing processes can be time-consuming and error-prone.

The power of tech-enabled billing and payments

Implementing legal technology solutions can address these challenges head-on, offering benefits to both consultant lawyers and platform firms:

Reducing administrative burden

Automated invoicing and reminders significantly reduce non-billable hours spent on administrative tasks. Legal billing software can generate and send invoices automatically, freeing up valuable time for legal work.

Ensuring faster payments

Online payment options make it easier for clients to pay promptly. Electronic payment systems allow clients to settle invoices instantly, improving cash flow for both lawyers and firms.

Maintaining financial clarity

Real-time tracking and reporting features provide a clear overview of financial performance. This transparency is crucial for making informed decisions and managing revenue effectively.

How Clio supports consultant lawyers

Clio offers a comprehensive suite of tools designed to streamline billing and payments for independent lawyers:

Time recording and automated billing

Clio’s integrated time recording feature allows lawyers to effortlessly record billable hours. The software then generates invoices based on this data, with automated billing and online payments in one platform, ensuring accuracy and saving time.

Customised invoice templates

Lawyers can create professional, branded invoices that reflect their practice. Clio’s customised invoice templates make maintaining a consistent and professional image easy.

Easy expense tracking

Clio simplifies expense management by allowing lawyers to record and categorise expenses directly within the platform. This ensures all billable expenses are captured and included in client invoices.

Accounting software integration

Seamless integration with accounting software like Xero and QuickBooks eliminates the need for manual data entry and ensures that financial records are always up to date.

How Clio benefits platform firms

Platform firms can leverage Clio to manage their unique operational needs:

Centralised invoicing

Clio enables firms to manage billing for multiple consultants from a single platform. This centralised approach simplifies financial management and ensures consistency across the firm.

Transparent revenue tracking

Real-time revenue tracking features allow firms to monitor revenue streams from each consultant, facilitating accurate and timely commission payments.

Compliance-friendly financial reporting

Clio’s robust reporting tools help firms maintain compliance with financial regulations. Detailed reports can be generated quickly, supporting audits and financial reviews.

Real-world impact

The benefits of tech-enabled billing and payments are not just theoretical. Sterling Law, a UK-based firm, has experienced significant improvements in its operations by adopting Clio. They note, 

“Practical things like payments, sharing documents, requesting signatures, integration with emails—all those practical, everyday things, they’re all there in Clio. And they’re so easy to use, everything is automated. You basically don’t need anything else.”

Maximising revenue with Clio

By leveraging Clio’s comprehensive billing and payment features, revenue-sharing law firms can:

Increase revenue

Clio’s electronic payment options make it more convenient for clients to pay, leading to faster payments and improved cash flow. The flexibility of payment methods and the option for automated payment plans can significantly boost revenue collection.

According to the Legal Trends Report, firms that offer online payments get paid more than twice as fast. Offering online payments significantly reduces the friction involved for clients in paying their legal bills. When looking at the number of days it takes to get bills paid, those using online payments have a median waiting period of seven days compared to 15 days for those not using online payments.

Reduce non-billable hours

With Clio, lawyers can generate electronic invoices, accept instant payments, and manage payments online. This automation reduces time spent on administrative tasks, allowing lawyers to focus more on billable work.

Improve client satisfaction

Offering flexible, electronic payment options enhances the client experience. Clients appreciate the convenience of paying online and the ability to choose payment methods that work best for them.

Enhance financial visibility

Clio’s real-time tracking and reporting features provide consultant lawyers and platform firms with clear insights into their financial performance. This visibility is crucial for making informed decisions and optimising revenue.

Embracing the future of legal billing for revenue-sharing law firms

As the legal industry continues to evolve, embracing technology-driven billing and payment solutions is no longer optional—it’s essential for success in revenue-sharing models. Clio offers a comprehensive platform that addresses consultant lawyers’ and platform firms’ unique needs, enabling them to streamline operations, improve cash flow, and focus on what matters most: providing excellent legal services.

By leveraging Clio’s powerful features, revenue-sharing law firms can overcome the challenges of traditional billing methods and unlock new levels of efficiency and profitability. From automated invoicing to flexible payment options and real-time financial insights, Clio provides the tools necessary to thrive in the modern legal landscape.

Ready to revolutionise your billing and payment processes? Book a demo with Clio today and discover how our technology can support your firm’s growth and success in the revenue-sharing model.

We published this blog post in March 2025. Last updated: March 12, 2025.

Categorized in: Business