Cashroom’s Purpose
For the past 14 years, Cashroom has been a trusted partner for law firms of all sizes and types, providing reliable, accurate, and specialized legal accounting support. Our mission at Cashroom is to simplify legal accounting for lawyers, allowing them to focus on what they do best – practicing law.
We are revolutionizing the field of legal accounting by offering law firms access to highly skilled, qualified, and experienced legal cashiers at a fraction of the cost of hiring their own staff. This not only helps firms save money but also unlocks a wide range of additional benefits.
Our commitment to accuracy, efficiency, and compliance in legal accounting has earned the trust of over 280 clients across the UK. Since the pandemic, there has been a remarkable 35.3% increase in the adoption of our outsourcing solutions within the legal market. Every month, we transfer over £2 billion of client funds and have processed an impressive 387,403 cashiering requests for our clients from January to June 2023. Our client portal, which boasts over 7,000 law firm users, is designed to deliver a unique, secure, and exceptional service through its 400 request types, automated tasks, workflows, and authorization processes tailored to each specific request.
To address the insecurities and rising threat of fraudulent payments associated with email, we have developed a revolutionary web-based portal that provides our clients with unparalleled security and protection. Our portal utilizes unique authorization workflows, mandatory fields for request submission, and compliance with the Solicitors Accounts Rules. Not only does this ensure the provision of necessary information, but it also facilitates encrypted communication between Cashroom and our clients, while offering excellent task management capabilities.
Our client portal is a testament to our commitment to innovation. Tailored specifically for legal accounting, it is robust, secure, and efficient. By continuously developing and enhancing our portal based on client feedback, we ensure that it provides the best possible service to law firms. Clients can securely communicate with Cashroom, access their financial information, and benefit from a clear audit trail. Our in-house development team is always available to listen to ideas for further improvements and implement them promptly, fostering a culture of innovation.
At Cashroom, our focus is on delivering excellence in service, and that includes having a dedicated Cashroom team specifically assigned to each client firm. Despite having a large team of over 150 staff, we pride ourselves on providing a personalized and human touch to our service. We believe that the interaction and rapport we build with our clients contribute to the high-quality service we provide.
In addition to safeguarding our clients from cybercrime, Cashroom also places paramount importance on client success. From the very beginning, we take the time to understand our clients’ businesses, ensuring a seamless transition to Cashroom. Our dedicated onboarding team follows a well-tested process, and our client care team maintains regular contact to deliver excellent customer service and add value to our clients’ businesses. With our expertise in dealing with a wide variety of firms and systems, we work closely with clients to optimize processes and enhance efficiency, while providing enhanced security and compliance.
At Cashroom, we take pride in our team of experts, including ILFM and SOLAS qualified Cashiers, Solicitors, and Chartered Accountants. This unique support network ensures that our clients receive comprehensive assistance in managing their accounts department. We invest in our staff through our in-house academy, providing ongoing training and development opportunities. This commitment to excellence is what sets our cashiers apart, ensuring that they are qualified or in the process of obtaining qualifications. This academy enables us to better support our teams, ensuring the delivery of crucial and exceptional service.
As we continue to develop new products and services, we rely on client feedback to shape our offerings. Our in-house IT and development team enables us to respond quickly to client demands and deliver an ever-improving client experience through our integrated portal.
By choosing Cashroom, law firms can confidently use our services alongside their preferred case management system, harnessing the industry’s best processes and efficiencies. This unique combination of expertise, security, and flexibility sets us apart from any in-house solution.
Our system expertise means that we can help firms optimise their processes for their own system use, helping with data flow, accuracy of data and efficiency, all as part of our standard way of working with our clients. Allowing law firms to use Cashroom services alongside the system of their choice gives firms the benefit of our industry best processes and efficiencies, along with using the best system for their firm. All these factors contribute to a service for our clients that simply could not be replicated inhouse.
The portal also protects us as a business, and our clients, from the risk of cyber-crime of which the legal sector is a main target. Cashroom are also cyber essentials plus accredited to ensure maximum security for our clients.
Keeping Clients at the heart of everything we do
At Cashroom, we work with our clients to ensure they are achieving their goals through using our products and services. From the first point of contact our team get to know the client’s business, meaning moving across to Cashroom can be as pain free as possible for the client. We created a specific team for onboarding of firms and new clients are taken through a well worked and tested process to bring them into service. We have a dedicated client care team who are in regular contact with clients ensuring we are delivering excellent customer service and adding value to our clients’ businesses. We have employed senior people from outside the legal sector who have expertise in client success and resource management, adding to the unique nature of our support.
A key focus is efficiency, and agreeing processes with clients that are optimal, calling upon our extensive experience of dealing with a wide variety of firms and systems. We know what works well!
Cashroom’s dedicated service team is committed to providing essential support, ensuring that clients receive accurate data and timely delivery of vital information. We assist clients with billing queries, promptly addressing any questions they may have about invoices through our secure portal. Our service team also offers invaluable financial information, enabling us to deliver the best possible financial service to the industry.
Our integrated portal provides a seamless and secure communication channel for our clients. Through carefully designed processes, we ensure that the interaction between fee earners and cashiers is even more efficient than in-house finance functions. This not only enhances security and compliance but also adds value to our services.
At Cashroom, our focus is on delivering excellence in service. We ensure that each client firm’s Cashroom team consists of a small number of dedicated individuals, providing a personalized touch and fostering strong client relationships.
Continuously striving to improve, we develop new products and services based on client feedback. With our in-house IT and development team, we can quickly respond to client demands and create a continuously improved client experience through our integrated portal.
If you are interested in finding out how Cashroom can support your firm, get in touch with our team. E: info@thecashroom.co.uk
P: 01695 550950
This article was submitted to be published by Cashroom as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
