Salary increases have been a major topic of discussion lately, with established law practices trying to keep pace with larger practices. Numerous firms participated in what an Above the Law article refers to as “raise-a-palooza”, offering their associates increased salaries.
However, in the immediate wake of these financial changes, firms are already looking for ways to fund these increases and protect their profitability. As explained in the article, steeper billing requirements have become the choice de jure for many of these firms. Associates are being told to increase their billable hours, which can be a scary thought more than midway through the year. But, a legal billing software platform that promotes increased billing and overall profitability can make these changes easier to implement.
TimeSolv’s automated time tracking and billing solution places law firms on a comprehensive platform. It greatly minimizes administrative burdens and user inconsistency from the task of legal billing. This arms your practice with an invaluable tool to bill more completely and accurately, while collecting payments in a more efficient manner.
Time Tracking
TimeSolv’s time tracking platform provides an easy-to-use method of accurately keeping up with all billable hours, without leaving money on the table.
- Employees have the convenience of tracking time regardless of where they are located, whether working online or offline. From computers to tablets to cell phones, your attorneys are always connected and able to track their efforts. This prevents hours and tasks from going unbilled. Even if an employee takes a client call in the middle of a beach vacation, they can use their cell phone to immediately track the time, instead of relying on an unreliable memory or easily lost piece of paper.
- TimeSolv also has a unique monthly calendar view for attorneys to quickly and easily see how much time they’ve billed each day, each week and for the whole month. This feature proves to be motivational for an employee to see exactly where they stand on their billable hours.
- Save time on the time tracking process with automated and customized processes. This means less time spent on the billing process and more time for working on the actual tasks that increase your overall practice billing.
Client Billing
- Billing organization is made simple, with available tracking by client, matter, activity or employee. You can also categorize entries with ABA billing codes and easily sync all of your platforms for consistency.
- Promote increased productivity by budgeting matters ahead of time. With the TimeSync desktop application, your staff members have a constant reminder of budgetary limits and how they are progressing on individual matters. This level of awareness works to prevent nonproductive behaviors.
Learn profitable benefits of Legal Project Management
Legal Project Management
The trend of project management among law firms has spread because it promotes profitability within practices. It allows you to effectively plan projects and bill flat fees that adequately account for the entirety of work completed on each matter. TimeSolv is a perfect fit for legal project management, with its budgeting capabilities, reporting tools and oversight capabilities.
If you are seeking to increase billing within your practice, TimeSolv legal billing software is a comprehensive system that can help your associates and support staff meet your billing requirements. Click here for a free trial period, so you can discover all of the ways TimeSolv can promote profitability within your firm.
About Erika Winston:
Erika Winston is a Virginia based writer with a passion for all things legal. As a former domestic relations attorney, she understands the challenge of determining the best fee structure for your practice. Erika is a regular contributor to TimeSolv and a variety of other publications.