Ensuring your law firm has an accurate policy and process to track billable hours is crucial to a law firm’s existence both for justifying billing and, understanding and predicting WIP and profitability. Most firms have time recording systems in place, and detailed policies to ensure the fee earner and the firm meet their targets. However, if strict procedures are not in place, relying on fee earners to record accurately and at the right time can be time-consuming. Moreover, if the fee earner is not completing and submitting time recording at the correct times, manual “catch-up” methods are liable for human error, with many potential hours being lost to inaccurate or missed recording, and delayed closing of valuable billable time. Revenue teams are then relied upon to identify and chase individuals manually for their time recording.
By automating the time capture policy, your firm is capturing billable time more promptly and accurately and Revenue Manager will pay for itself quickly - and many times over.
The beauty of RevenueManager is that it does not ask fee earners to do anything that the firm’s policy is not already requiring them to do anyway i.e. time record the specified number of hours each day for the work they have done and post the time to the PMS.
RevenueManager automates the policy process; encouraging fee earners to record activity promptly and accurately even after the event, alleviating the need for revenue teams to be continually chasing individuals manually.
Our bespoke software ensures fee earners are forced to follow the firm’s time keeping policies to keep their time recording up-to-date at all times, without wasting the time of valuable members of staff. RevenueManager continually monitors your time recording system, notifying fee earners of missing, incomplete, or open time. The software has an override application that automatically informs the fee earner that they have incomplete time entries and launches your time recording system, the system is fully customisable to match your firm’s policies regardless if the policies are different for each location, or for specific staff members.
Transforming the way your law firm time records, and has been shown improved time capture and recovery rates dramatically.
RevenueManager is an innovative software solution that drives effective time recording behaviours into firms of all sizes, ensuring all of the above benefits can be addressed.
To find out more about RevenueManager you can call us on +44 (0) 20 3743 9626, email us firstname.lastname@example.org or request a demo here.
With RevenueManager in your firm you can be assured that time recording will become easier and more accurate.