The Cashroom team have been out and about at various events over the past few months and last week we attended the Bold Legal Group summer conference & Soiree. This was a fantastic event with numerous insightful takeaways. It was great to catch up with some of our Cashroom friends and meet lots of new ones.

 

If you don’t know already, Bold Legal Group was set up by Rob Hailstone, an ex-residential property conveyancer with over 45 years’ experience. With the implementation of the Legal Services Act 2007, a new SRA handbook and many other issues to deal with in conveyancing, Rob realised that law firms needed an extra ‘pair of eyes’ to make sure they were kept fully informed and up to date with issues such as AML/ID, SRA fraud and scam alerts, Law Society practice notes, GDPR and much more.  Find out more about BLG here: https://www.boldgroup.co.uk/

The Bold Legal Group network members work together, share experiences, problems, solutions, and successes. Bold Legal Group’s aim is to embrace new opportunities that the changing legal landscape creates and ensure that clients have continued access to good efficient legal advice and help throughout England & Wales.

We spoke to a lot of conveyancers at the event, and it became clear that many of these firms cashiering departments need additional support – something that Cashroom can help with. For conveyancers and their clients, an efficient accounting department with tight controls is crucial. Our team of cashiers transfer almost £3 Billion of clients’ money, and we are confident that your transactions are in the best hands with us. Unlike any other outsourced provider and many in-house teams Cashroom offer efficiency through our unique and secure client portal, which has been built in its entirety in-house, removing the need for email communications and reducing the risk of fraud and scams, of which the conveyancing sector is a prime target for by criminals.

Our portal includes workflows for best practice and a clear audit trail for your own peace of mind. With over 140 legal cashiers and accountants your firm has access to a wealth of experience and each task is completed by the correct person with the right skillset – not even the largest firms in the UK have access to this size of resource. We work with whatever practice management system your firm choses and are completely system agnostic.

Firms we work with enjoy peace of mind that their compliance is covered. Our cashiering teams have up to date knowledge of the SRA Accounts Rules and the CLC code of conduct. Our in-house academy ensures we are on top of the latest rules and regulations and can share our in-depth knowledge with our clients.

We know that completion days require additional resource. Lawyers and in-house accounting teams can be overwhelmed on these busy days and transferring high volumes of client money is high-risk for firms and requires correct compliance and attention to detail. If cashiering teams are overworked, stressed, and feeling as though their heads are only just above water, mistakes can happen, and this brings an added risk to firms and clients.

At Cashroom, we provide flexible resource meaning you can account for busy days and relieve the stress from your in-house teams, this feature of our service is something our conveyancing clients gain full advantage of.

You can find out more about our services here: https://www.thecashroom.co.uk/services/

Conveyancing is stressful, but the rewards are worth it. Your clients depend on you, and we know how many conveyancers go above and beyond day in day out for their clients. Cashroom can help relieve some of the stresses for your firm, meaning you can dedicate more time to your clients whilst our experienced and dedicated cashiers provide additional support for your finance function. The result = happier clients, happier regulators, happier staff, and a happier firm.

If you are a conveyancing firm and want to find out more about how Cashroom can work with you to ensure compliance and reduce risk in your firm, contact our team for a confidential chat.

Email: info@thecashroom.co.uk

Phone: 01695 550950

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About Cashroom

Cashroom provides expert outsourced accounting services for Law Firms including Legal Cashiering, Management Accounts and Payroll services. Our mission is to free lawyers from the complexities of legal accounting by supporting the industry with accurate management information and allowing lawyers to do what they do best – practice law.

Outsourcing to The Cashroom has been painless. So easy to deal with accommodating everything that we need to do, when we need to do it, whilst keeping us on the right side of the vast array of regulations. We have complete trust in them to ensure our compliance, and have a Law Society Inspection Report which proves what a great job they are doing for us. We will never have a cashier in our office again.”

Kate Anderson
Director, Masson Cairns
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