Busy attorneys and law firm administrators usually have enough going on to fill the hours of their working day. Taking the time to try out and potentially switch to new, cutting-edge billing software can feel like time spent not tending to the billable work of the firm. Simply put, the costs of shopping around for new solutions for your law firm can feel too high given your day-to-day work demands. But the question you really need to be asking is exactly how much using outdated billing software is costing your firm? Below, we go through a few of the costs you’ll want to consider in deciding whether it makes sense to stay with the same billing software you’ve been using.
How Many Billable Hours Are Lost to Hard-to-Use Time Tracking Systems?
The traditional way of billing time is for an attorney to write his or her hours down (or remember them at the end of the day or week). Even when billing systems are in place, attorneys often avoid using them because of the challenge in opening the application at their desk. As a result, hours may not get input as the attorneys go, and may be forgotten or underestimated in an attempt to be prudent. Even if every attorney is only missing an hour or two a month (a very conservative estimate), this adds up to many thousands of dollars in lost billables over a year.
TimeSolv offers an extremely easy-to-use input system available from every attorney’s desktop, tablet, or smartphone, so hours can be input as they go from every location, meaning no hours ever need be lost again. Some of TimeSolv’s customers have seen up to a 25% increase in their billable time after switching.
Are Your Attorneys Going Over Budget on Flat-Fee Projects?
Flat fee attorney services are increasingly becoming the norm, meaning every attorney hour over the projected budget is billable time that cannot be spent elsewhere. If your billing software does not provide project management features to help keep projects on time and on budget, then those overtime and over-budget hours due to lack of management abilities are dollars coming out of your firm’s bottom line.
How Much Time is Spent on the Billing Approval Process?
A common complaint of managing attorneys is the immense amount of time they spend approving specific items on bills, getting other necessary approvals, changing bills, getting re-approvals, and so on. With TimeSolv, your firm will get a streamlined approval process lowering the amount of time spent by managing attorneys on non-billable work.
Are All of Your Expenses Being Properly Tracked?
Without a streamlined process for tracking expenses and incorporating them into the bill, your firm runs the risk of losing track of expenses or of submitting delayed and/or incomplete expenses that your client won’t approve. If your billing software does not include integrated expense tracking, then you may be losing out on full expense reimbursement.
How Much Will Trying New Billing Software Cost You?
With TimeSolv, the cost of trying new billing software is nothing. You’ll get the ability to try out TimeSolv free for 30 days, with one-on-one training throughout to bring you fully up to speed on all of TimeSolv’s features and how they can help you and your firm increase profitability. Additionally, part of our one-on-one training includes helping to migrate your existing data into TimeSolv After your 30 days are up, TimeSolv offers pricing plans as low as $39.95 per month per timekeeper.
