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# Clio Payments I Collection Calculator

#### What is the Clio Payments Collection Calculator?

The Clio Payments Collection Calculator calculates the additional revenue firms collect when they accept credit card payments from clients online--compared to accepting manual payment methods such as check and cash.

#### How to use theClio Payments Collection Calculator

Users are asked to input the total average amount their firm bills clients during a given month. Based on this number, the calculator will determine the additional revenue the firm would collect if they accepted credit card payments.

Here’s an applied example:

Law firm X is Clio Payments enabled and has 10 bills with a total value of \$10,000. Based on our data, Law Firm X, could expect to collect \$8,160 within a 90 day period, and have \$1,841.48 in accounts receivable.

Law firm Y is not Clio Payments enabled, and has 10 bills with a total value of \$10,000. Based on our data, Law Firm Y, could expect to collect \$7,430 within a 90 day period, and have \$2,570 in accounts receivable.

#### How are these numbers calculated?

Based on our data:

• Clio Manage accounts that have Clio Payments enabled, have an 80.1% probability of being paid at 90 days, compared to accounts that do not have Clio Payments enabled that have a 77.9% probability of being paid at 90 days
• Clio Manage accounts with Clio Payments enabled also observe a 28% decrease in accounts receivable (Clio Payments enabled: 18.4% vs. not Clio Payments enabled: 25.7%)

In conclusion, despite paying credit card and transaction fees, firms that use Clio Payments still collect more revenue overall.

#### Where did we source the data?

We sourced these metrics from a pool of representative anonymized customer data, which included over 1,000,000 bills from both Clio Payments enabled and non-enabled Clio Manage accounts.