How Bankruptcy Firms Can Save Money With Noodle

The Modern Law Firm series delves into how AI can streamline your law firm — whether it’s by saving you time and money, eliminating mistakes and redundancies or making your workflow more efficient. 

Businesses strive to save money to operate as efficiently as possible. Your money-saving decisions should consider the long term and not make it harder to run your business. This is especially true for bankruptcy firms, which should find solutions that do not interfere with meeting deadlines or serving their clients.

Learn more about how bankruptcy lawyers can save money without sacrificing quality service. 

Benefits of Saving Money for Your Bankruptcy Firm

Saving money can make a noticeable difference for your firm. It can:

Help You Build an Emergency Fund

An emergency fund, or cash reserve, can be useful if any unexpected issues arise. Even if you are a meticulous planner, there are situations that you may not be able to avoid. Funneling some of your savings into an emergency fund can protect your business in the long term.

According to the Quickbooks blog, you should build a fund of operating expenses: “As a general rule of thumb, small business owners should have three to six months of operating expenses to help prepare for any emergencies. That way, you have funds to weather the storm if unforeseen circumstances affect your business.” 

Allow You to Invest in Other Areas

If you save money, you will have more funds to invest in other areas of your business—for example, hiring new talent or implementing new tools. Saving money can give you more flexibility in how you run your business. 

Ensure Your Business Is as Efficient as Possible

To save money, you need to do an audit of your business to learn where you can cut expenses without affecting how you operate. The end result is that you can have a more streamlined system.

4 Ways Bankruptcy Firms Can Save Money

Bankruptcy firms can turn to Noodle to save their businesses money through a mix of AI and custom features. Here are four ways bankruptcy firms can save money: 

Find a Platform That Lets You Add More Cases 

Noodle allows bankruptcy lawyers to handle hundreds of cases without additional costs. This enables firms to scale their businesses without having to add this extra cost. 

Ensure Your Collaboration Tools Do Not Add Extra Expenses

Whether you have a small or large team, it’s paramount you find a collaboration tool that does not eat up costs when you need more seats. Noodle, for example, allows you to add as many collaborators as you need. Whenever you’re ready to expand your team, this is one less expense you have to take into consideration. 

Eliminate Administrative Tasks

Instead of hiring people to complete certain administrative tasks, like following up with clients or scheduling appointments, let Noodle take care of these tasks. This can free you up to have your staff handle other duties that they may not be able to complete otherwise. Noodle’s AI tools make your team stronger. 

Skip a Website or a Redesign

If managing a website eats too much into your budget, consider skipping a website. This doesn’t mean you are ignoring the importance of an online presence. The internet can be one of your biggest tools to getting new clients. Instead, you can use the Noodle platform to give you a professional website.

If you do have a website, you may choose to forego a redesign by using the Noodle widget, which has a sleek appearance than will a good impression on your clients.