Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Timekeeper Behavior Analysis<br />Todd Gerstein<br />Founder & CEO<br />San Francisco<br />David Gallagher General Manager...
How Does it Work?<br /><ul><li>Script Data Mines Time Entries</li></ul>-  Aderant, Elite, LexisNexis, Rainmaker & other ma...
Determine the Time Duration of the Entry</li></ul>    -  Small (< 30 minutes) / Large (>30 minutes)<br /><ul><li>Analyze t...
Sample Analysis for the ABC Law Firm<br /><ul><li>U.S. Multi-Office
200+ Timekeepers
Sampled two years of data</li></li></ul><li>Velocity of Time<br />Percent of Total Time Entries<br />Days Elapsed Since Wo...
Velocity of Time Identifies Behavior<br />Percent of Total Time Entries<br />Contemporaneous (31%)<br />Reconstructionist ...
Velocity of Time: Compliance <br />Percent of Total Time Entries<br />In Compliance (64%)<br />Late Timesheets (36%)<br />...
Compliance by Timekeeper Type<br />Percent of Timekeepers in Compliance (Time due on Friday or Max Velocity = 4)<br />70% ...
The Quality of Late Timesheets<br />Small Increments of time recorded (30 minutes or less)<br /><ul><li>Small increments r...
Late Timekeepers enter significant less small increments of time
Biggest Offenders: Associates and Partners</li></ul>PotentialLeaked Time<br />Days Elapsed Since Work Done<br />
The Value of Late Time: $2.4 - $3.6 Million<br />Methodology:  Late timekeeper’s recall a lower percentage of small time i...
Upcoming SlideShare
Loading in …5
×

Your Timekeeper's Behavior Revealed

394 views

Published on

Published in: Technology, Business
  • Be the first to comment

  • Be the first to like this

Your Timekeeper's Behavior Revealed

  1. 1. Timekeeper Behavior Analysis<br />Todd Gerstein<br />Founder & CEO<br />San Francisco<br />David Gallagher General Manager, UK<br />London<br />
  2. 2. How Does it Work?<br /><ul><li>Script Data Mines Time Entries</li></ul>- Aderant, Elite, LexisNexis, Rainmaker & other major systems<br /><ul><li>Calculate Velocity
  3. 3. Determine the Time Duration of the Entry</li></ul> - Small (< 30 minutes) / Large (>30 minutes)<br /><ul><li>Analyze the Results</li></li></ul><li>What Does Velocity Tell You?<br /><ul><li>Velocity Calculation</li></ul> - How fast does time get into the system?<br /> - Velocity = (Post Date - Work Date)<br /><ul><li>Behavior</li></ul> - Contemporaneous – records same or next day (Velocity 0-1)<br /> - Reconstructionists - records later by reference to diary & files(Velocity >1)<br /><ul><li>Compliance</li></ul> - Who is in compliance with the firm’s due date policy?<br />
  4. 4. Sample Analysis for the ABC Law Firm<br /><ul><li>U.S. Multi-Office
  5. 5. 200+ Timekeepers
  6. 6. Sampled two years of data</li></li></ul><li>Velocity of Time<br />Percent of Total Time Entries<br />Days Elapsed Since Work Done<br />
  7. 7. Velocity of Time Identifies Behavior<br />Percent of Total Time Entries<br />Contemporaneous (31%)<br />Reconstructionist (69%)<br />Days Elapsed Since Work Done<br />
  8. 8. Velocity of Time: Compliance <br />Percent of Total Time Entries<br />In Compliance (64%)<br />Late Timesheets (36%)<br />Days Elapsed Since Work Done<br />Firm Policy: Time Due Every Friday or Maximum Velocity = 4<br />
  9. 9. Compliance by Timekeeper Type<br />Percent of Timekeepers in Compliance (Time due on Friday or Max Velocity = 4)<br />70% of the Partners do not take time entry deadlines seriously<br />
  10. 10. The Quality of Late Timesheets<br />Small Increments of time recorded (30 minutes or less)<br /><ul><li>Small increments represent about 40% of time entries for the Compliant Timekeeper
  11. 11. Late Timekeepers enter significant less small increments of time
  12. 12. Biggest Offenders: Associates and Partners</li></ul>PotentialLeaked Time<br />Days Elapsed Since Work Done<br />
  13. 13. The Value of Late Time: $2.4 - $3.6 Million<br />Methodology: Late timekeeper’s recall a lower percentage of small time increments. We calculate the cost of this memory failure to the firm by comparing it to the behavior of the compliant timekeeper and value the leak at an average hourly rate.<br />Our proposition is that by facilitating the capture of small time increments for timekeepers who have a velocity of greater than 2, we estimate $2.4 - $3.6 million in additional time could be booked into the accounting system year over year.<br />
  14. 14. Key Takeaways<br /><ul><li>36% of time entries are late
  15. 15. 45% of Associates are not in compliance
  16. 16. 70% of the Partners are not in compliance
  17. 17. Late timekeepers forget to submit small increments of time because of failed memory
  18. 18. The value of leaked time to the firm is equal to $2.4 million over the course of a year</li></li></ul><li>Our Pitch to You<br /><ul><li>Free Offer: Timekeeper Behavior Analysis Find out how your firms behaves!
  19. 19. Schedule a Smart Time demo.See how Smart Time:</li></ul>- Provides your timekeepers with total recall when they prepare their timesheets to close time entry leaks.<br />- Provides different time entry tools for different types of timekeepers to improve velocity.<br />- Improves the timekeeping experience with our imaginative interface.<br />
  20. 20. Contact Us For Your Free Analysis or Smart Time Demo<br />Smart WebParts LLC<br />www.smart-webparts.com<br />info@smart-webparts.com<br />Todd Gerstein<br />(US) +1-877-776-7505<br />tgerstein@smart-webparts.com<br />David Gallagher<br />(UK) +44 (0) 800 048 8571<br />dgallagher@smart-webparts.com<br />

×