‘Accounting innovation’ is not a new concept for DTBusiness though. The company has been at the helm of the industry’s modernization since 1981. As one of the first companies to realize the importance of a robust and enhanced accounting process for corporations, DTBusiness sparked a pivotal moment for accounting evolution through L.A.W.S, a first-of-its-kind time, billing, and accounting package designed to operate on mid-range IBM computer systems. In 2003, during the dawn of cloud computing, DTBusiness went one step further and rolled out an all new cloud-based solution, LAWS/Pro, which further boosted the accounting capabilities for any service based business, specifically law firms from 1 to more than a hundred attorneys.
“Since the beginning, we have been dealing exclusively with law firms, and we understand the ins and outs of their accounting process,” says Peter Konetchy, the president of DTBusiness. The cloud-based LAWS/Pro solution is the synthesis of all successful processes that make legal accounting simple and seamless. Powered by two decades of upgrades and advancements, the solution has evolved to handle data and report generation, complex split billing scenarios, and customized LEDES files generation. By incorporating LAWS/Pro, insurance defence firms are able to easily handle their client’s billing requirements and invoice submission system.
Unlike local networks that are limited to specific systems, the cloud-based LAWS/Pro can be accessed through any connected systems, irrespective of their location, which makes this solution especially timely right now for business to conduct their accounting processes remotely. LAWS/Pro can be directly accessed through browsers like Chrome, Internet Explorer, Firefox, or Safari, without the need for constant updates. The solution offers hassle-free upgrades, complete data security, and backup capabilities, irrespective of the computer hardware. Its cloud-based function allows users to back up their data on demand. Unlike many other cloud-based accounting systems that could hold your data hostage, LAWS/Pro provides full control and access.
At the core of all these functionalities is DTBusiness’s client-centric approach. DTBusiness understands that firms want to devote their attention to billable hours over non-billable administration. To make that possible, DTBusiness has developed its Virtual Administration offering. This solution provides professionals with cost-effective means to offload time-consuming administrative or billing tasks to a trained LAWS/Pro professional.
DTBusiness will work with your firm to determine which tasks are best handled internally by your firm’s staff verses which tasks are best offloaded to the Virtual Administrators providing the most efficient solution to your billing and accounting needs.
In addition to time, billing, and accounting, DTBusiness also helps law firms maintain trust funds for their customers. The trust management process is fully integrated with the LAWS/Pro system. Thus, the clients can easily reconcile and apply the funds from trust against invoices when they are posted. Since the entire processes can be streamlined with the all-in-one LAWS/ Pro, piecemeal software packages and spreadsheets can be eliminated.
The virtual administrators at DTBusiness are thoroughly familiar with the clients’ operation procedures
Owing to these capabilities, DTBusiness’s clients have witnessed significant improvements in their accounting operations. Elaborating on this, Konetchy presents an instance when the company partnered with a law firm sparked by an incident involving the misappropriation of funds. When this came to light, the firm decided to offload its accounting process to DTBusiness through the LAWS/Pro Virtual Administration solution. Though DTBusiness never physically handles or disburses any funds it’s virtual administrators worked directly with the firm’s staff and senior partners, taking full responsibility for their financial tasks including the posting receipts, overseeing client trust activity, preparing disbursement checks, requesting wire transfers, posting needed journal entries, and reconciling multiple bank accounts. As a result, the client was successfully able to eliminate all loopholes in their accounting and billing processes.
Such favorable outcomes have been the selling point for DTBusiness for the last 30 years. The trail of innovation blazed by the company only proves its visionary foresight. Moving ahead on this trail, the company now seeks to further augment its LAWS/ Pro Virtual Administration and pivot its functionalities toward more firms with remote workforces. Its exclusive partnerships with law firms have made DTBusiness one of the leading legal accounting solutions providers that is well-versed in the inner workings of the industry. “Moving ahead, we look forward to serving our clients with the best products that modern technology has to offer,” concludes Konetchy.