The cloud practice management company Rocket Matter today rolls out a new “Evergreen Retainer” feature. The feature automatically invoices clients to replenish their retainers when their accounts fall below specified amounts.
Using this feature, the lawyer and client would agree on a minimum retainer and a replenishment point. After the client pays the initial retainer, then when the retainer falls below the agreed amount, the client is invoiced to replenish the retainer to the minimum amount.
For example, the lawyer and client may agree to a minimum retainer of $1,000 and to replenish the account when the remaining amount of the retainer drops below $500. These numbers can be set in the user’s dashboard, where the feature can also be toggled on or off.
Rocket Matter also said today that it has made improvements to its hardware and software that increase the speed of its platform by over 60 percent.
Also included in this latest system upgrade are two new analytics reports, several bug fixes and minor user interface improvements, Rocket Matter said.
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