Posted byGaby Isturiz on September 25, 2014 at 10:54 AM
Of the many functions that attorneys carry out on a daily basis to win clients and cases, timekeeping doesn’t get any of the glitz and glamour. After all, when young law students daydream about their futures as attorneys, they don’t typically conjure up images of rockstar timekeeping. However, that doesn’t make timekeeping any less important to the firm.
Although timekeeping has earned a reputation for being a painful task that attorneys and staff dread, it doesn’t have to be - thanks to these two truths of modern timekeeping:
Mobile Timekeeping Apps now allow attorneys to enter their time in real-time, preventing the need for hours of reconstructive time estimating.
Mobile time entry, by design, is meant to work the way attorneys work. This means that the time entry process fits into the attorney’s current workstyle of being mobile and on the go.
At Bellefield, we want to polish timekeeping’s tarnished reputation, which has long been viewed as painful and inconvenient. We think the best place to start is with the big picture. In other words, beyond the simple fact that timekeeping is necessary to get paid, here are a few key points about timekeeping and its role in the success (or lack there of) of the firm.
#1: It may seem menial, but it is meaningful.
“Timesheets are due.” Cue collective sighs and eye rolls. Yes, time entry is necessary in order to bill clients and collect receivables, but the data contained in timesheets and the efficiency of the time entry process is so much more. The ability of a firm to accurately collect data on time contributes to billing accuracy and efficiency, which helps the firm’s administrators better understand and project financial performance.
#2: The true metric of success is accuracy.
It seems like timekeeping success means getting time entered on time, which, simply put, means that attorneys are on the right path toward timekeeping accuracy. Timekeeping accuracy prevents under/over-billing the client and helps create accurate financial forecasts. The sooner that time is entered after a completed task, the more accurate it is. When it comes to timekeeping, finished is great, but accuracy is better!
#3: In the future of Legal, winning in timekeeping will mean winning in business.
In this era of big data analytics, timekeeping data can offer vast insights, not only to the individual firm, but to the legal industry as a whole. Timekeeping data is allowing firms and clients to establish norms based on various types of legal work. These norms, when adhered to or exceeded, can help your firm establish competitive advantages against other firms. That’s right, timekeeping accuracy and the data that it yields can help you win and keep more clients.
Are you interested in diving further into how timekeeping can help your firm achieve the next level of success? Download our new eBook here: