CosmoLex is a cloud-based practice management software with a robust feature set that includes a full law-firm accounting package. It's accounting features mean you don't have to deal with migrating information to-and-from a general-purpose accounting software package like QuickBooks or Xero. And with the single-tier pricing, users get a lot of bank for their buck. If you're looking for a true all-in-one platform, you'll definitely want to learn more about CosmoLex through this review.
For Law Practice Management Software, the following are essential features, and you should therefore expect to see a check in every box in this section.
Based on 3 Reviews
As an online application, CosmoLex can be used in any modern browser that has an internet connection.
CosmoLex has a single pricing plan, which includes all of their features for every user. For users who are billed annually, they charge $79.00 per-month-per-user, while monthly accounts will pay $89.00 per-user-per-month. It is worth noting that firms with 10+ users may get “tiered pricing.”
As of this review, CosmoLex protects all data traveling between your computer and CosmoLex's servers using 256-bit SSL encryption, which is often referred to as "bank-grade" security. All CosmoLex servers are located in the United States, or Canada. And, as CosmoLex notes, they are subject to those jurisdictions. This may be a plus or a minus depending on your viewpoint.
CosmoLex has McAfee run a third-party security audit every 24 hours, and a third-party penetration test from May 2016 found "no exploitable vulnerabilities … that could compromise customer data."
To its credit, CosmoLex is quite transparent about its security features.
Yes. And No.
Integrating OneDrive (or OneDrive for Business) is relatively easy, has two-way sync, and can completely replace your native CosmoLex document storage.
Further, CosmoLex offers Office 365 Calendar sync that you can turn on. This will allow you to create an Office 365 Calendar for your CosmoLex events. You’ll be able to create events either app.
For email, however, the platform offers an Outlook Desktop and Outlook 365 (online) plugin. Although it does not support Two-factor authentication (2FA) at this time, so we suggest not to use it. Alternatively, though, users can easily forward email from their Outlook account into CosmoLex. Once the email is routed to the platform, users can set-up auto-tagging, and track billing with ease.
Yes. And No.CosmoLex's Google Drive integration is a two-way sync, where Google Drive can completely replace the native CosmoLex document storage.
Additionally, a firm’s CosmoLex calendar can easily be added to their Google Calendar. This sync allows for two-way communication so the firm users can create events in either CosmoLex, or the Microsoft app.
As for email, though, Gmail users can turn on email Routing to get firm emails into their account. This will route inbound and outbound emails directly from Gmail to CosmoLex. Once the email is routed into the account, users can set-up auto-tagging, and track billing with ease.
CosmoLex ships with comprehensive business and trust accounting features. This includes Bank transaction feeds (through Plaid), and credit card processing backed by LawPay. Additionally, it comes with a standard chart of accounts that law firms need. So, it has the potential to be much less confusing than QuickBooks.
For our Canadian readers, the platform is well versed in Canadian trust accounting obligations. They offer features like internal three-way reconciliation that may be helpful during an audit.
Yes. CosmoLex is strong in the billing and payment department. They offer a native acceptance of online payments through CosmoLexPay, or users can integrate their existing LawPay account.
No, as of this review, it does not appear that CosmoLex integrates with Zapier.
Yes. Document assembly, as with most LPMS systems, is accomplished by connecting your client information to the “mail merge” function of Microsoft Word. Essentially, you design templates in MS Word using merge fields that you download directly from your database. You then upload these templates to the CosmoLex system. Here, they can be accessed by other users in your firm. Although this is not as robust as a system that stores your templates locally, most users will find that it does everything they need, and more. Additionally, it is much easier to share these templates.
Since CosmoLex is accessed through your browser, it is compatible with both PC and Apple products.
CosmoLex is an excellent choice for firms that want robust accounting. Having emerged from the same people who brought you Tabs3, they offer many features that are hard to find in a cloud-based LPMS. Attorneys who rely on complex fee-splitting will likely be happy with this offering. As will firms who want to reward attorneys in their firm who bring in business. Firms who are looking to migrate from Needles, PC Law, or other on-premises platforms, will likely want to review CosmoLex further.
On the other hand, it’s probably not a great fit for firms that need to link a number of software and services together. Or for those who are looking to integrate their potential client intake into their LPMS.
Workflows. Using CosmoLex’s Workflows feature, you can add a series of tasks that are triggered by the completion of the previous task or another time frame you set. Importantly, you can store these workflows as templates for later use.
Client Portal. CosmoLex offers a secure client portal so you can communicate with your clients without worrying about your attorney-client privilege. This portal not only allows you to share documents back-and-forth, but you can limit specific permissions your client users have, and send and receive payments on client billing.
Email. With the in-app email features, you can automatically match a communication with a particular matter, and get an alert only if a match cannot be found. Additionally, as you categorize emails, you can keep track of your billing of each of these communications.
Time & Expense Tracking. In addition to Trust & Law Firm Accounting, CosmoLex includes thorough legal billing components, including a mobile app to help you track your time and expenses on-the-go. You can also email invoices to your clients, and easily track retainer expenses.
Include your accountant. If you intend to do your accounting in CosmoLex, it’s a good idea to get your bookkeeper and accountant on board before you switch. They shouldn’t have any objection—trust accounting, in particular, will be much easier in CosmoLex—but they will need to work with it, too. So, have them review the features before you jump in.
Migration. CosmoLex can help you migrate data from your existing law practice management and accounting software. Plan ahead, though; data migration takes longer than simply signing up for an account. For non-financial data (i.e., contacts, matters, and associated information), you will have to work with their software technicians. Depending on the complexity of the data migration job, it could even take days or weeks to complete.
CosmoLex provides instructions for migrating financial data yourself, but you do have to wait until your non-financial data has been migrated. Which makes sense, as it gives your invoices and billing something to connect to. CosmoLex technicians or certified partners can also take care of migrating your financial data for a fee, or a minimum-term commitment.