How To Capture Every Billable Minute in the Law Company

  • 852 views
Uploaded on

Second TimeCamp (https://www.timecamp.com/) presentation shows the most useful practices for law companies to capture every billable minute. …

Second TimeCamp (https://www.timecamp.com/) presentation shows the most useful practices for law companies to capture every billable minute.

Providing appropriate tools for better time tracking within law companies is a step to the revenues increase. Making this process easier for attorneys helps them to stay focused on their work and bill their clients more accurately for the time spent on each case.

It is not a secret that for law companies and attorneys themselves time means money. Every single minute spent on a particular case, whether it is a client’s visit in the office, paperwork done or court appearance it all accounts for the sum of their further salary. At the same time keeping an eye on the clock ticking while entering those hours to the timesheets is a real sore point.

The attorney’s job is the one that requires being mobile all the time. Office work including files, e-mails, phone calls is important but singular activity this type doesn’t demand hours. However, those little ones are the easiest to forget when it comes to fill blanks in your timesheets at the end of the day.

It is estimated that 10 to 30 per cent of attorneys’ work time is not recorded. In the scale of time units that are considered as billable ones it generates high losses in company’s funds flow.

Accurate time keeping enables being more precise in billing and invoicing. This makes company more reliable for its clients and lets to build better long-term relationship.

The sooner attorneys start to track their time accurately and efficiently, the sooner company’s revenues will increase. The cash flow will be quicker as right tools enable faster payments. This brings mutual benefits as clients are more satisfied with the service provided, the company is happy with the results given and nobody needs to work longer to earn the appropriate.

Tags: attorneys, interactive directory, time tracking, time management, billable time, time capture, accurately track billable time, timekeeping product, computer-based, billable activity, accurate timesheets, accurate invoices, invoice automatically, tracking computer based time, time tracking by document, email time tracking, Mac time tracking, PC time tracking, PC time tracking, computer-based billable time, automatic time collector, managing law practice, invoicing software, billing software, legal practice management software, time tracking for lawyers, time tracking for attorneys, lawyers' time tracking, attorneys' time tracking, recording all billable time, time recording, time capturing, legal time tracking software

More in: Technology , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
852
On Slideshare
0
From Embeds
0
Number of Embeds
3

Actions

Shares
Downloads
1
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. #2 HOW TO CAPTURE EVERY BILLABLE MINUTE IN THE LAW COMPANY
  • 2. ATTORNEYS’ CHALLENGES: - being mobile most of the time - lots of meetings - e-mails, phone calls, paperwork
  • 3. TIME MEANS MONEY!!!
  • 4. MEANTIME LAW FIRMS LOOSE… 10% 1.920 billable hours/year * 10% * $150 =$28.800 TO 30% 1.920 billable hours/year * 30% * $150 =$86.400
  • 5. MOST COMMON REASONS THE TIME GOES UNRECORDED ARE: - forgetting to fill your timesheets - recording the time another day/week/month - multitasking - not recording every activity - not recording inefficiency
  • 6. USE 5 PRACTICES TO SOLVE IT… # 1 working on the time tracking manner #2 working on projects and tasks #3 detailed reports #4 accurate invoicing #5 optimizing 1-4 actions with the appropriate software
  • 7. #1 WORKING ON THE TIME TRACKING MANNER: - keeping everyone involved in the process employees feel responsible for results practice makes perfect – later on individuals will track the time more willingly
  • 8. #2 WORKING ON PROJECTS AND TASKS: - higher business transparency easier time tracking more relevant data
  • 9. #3 DETAILED REPORTS: - more detailed information about the project better business relations strong basics to accurately bill your clients
  • 10. #4 ACCURATELY INVOICING: - - billing clients adequately to the time spent on each case revenues increase
  • 11. #5 OPTIMIZING 1-4 ACTIONS WITH THE APPROPRIATE SOFTWARE: - keeping everything in one place easy access from everywhere automatic time tracking, reports, invoicing
  • 12. CAPTURE EVERY BILLABLE MINUTE – GETTING STARTED WITH TIMECAMP! ww.timecamp.com/blog