One Entry to Rule Them All: It’s Time to Ditch Your Old School Time and Billing System

Many law firms still operate with pen-and-paper time and billing systems; but, that’s like a recipe for losing money.  Of course, there’s no time like the present to change your ways, and recapture more of the money you make. 



There are two moves you can apply, in short order, to revise your time and billing practices, that will combine to change your (work) life: (1) Move to a single-entry system for billing; (2) Get a law practice management software system in place.  The first maneuver is something that lawyers are traditionally reticent to do, because it seems to place more work in their laps: rather than handwriting time capture notes and submitting them to a secretary, attorneys are instead inputting their own time capture data into a time capture software directly.  That process only happens once (not twice, like when you write down your time, and then have your secretary convert it to another system), and thereby reduces the likelihood for error and lost time.  Delegation is usually great, just not in this case -- because it’s actually inefficienct and redundant; and you’re definitely losing money, as captured time becomes lost time as it pushes down an unnecessarily long funnel. 

 

Utilizing a modern cloud-based time and billing program is the next big step you can take.  That’s where you input your time, the one time you do it.  Time and billing systems have largely morphed from single-feature structures into case management systems, which include time and billing programs -- but also much more: as relational databases that can track all of your case records and can effectively integrate with other relevant programs, like accounting softwares.  Choosing a modern case management system not only solves for the single entry time capture requirement, it also allows you to create billing workflows, review pre-bills and utilize batch billing -- to send out all outstanding invoices at once.  It’s at once a time-saver and a moneymaker. 

 

. . . 

 

If you need to revamp your billing system, we can help you to make the money you deserve. 

Through a unique partnership between the Maine Board of Overseers of the Bar and Jared Correia’s Red Cave Law Firm Consulting, Maine attorneys have access to experienced law practice management consultants at a special discounted rate. 

To get started, visit Red Cave’s landing page for Maine attorneys, and start running your law practice like a business.

Comments

Post a Comment

Popular posts from this blog

The Nice and Naughty List: How to Pick New Software

Image
Selecting new law firm software can be a daunting prospect .  There are so many options, that attorneys are often waylaid by a paralysis of analysis, and then don’t end up making any positive changes at all .  This is why a lot of law firms end up relying on old and obsolete technologies, rather than updating to modern tools .  Once again, inertia becomes the single worst enemy of law firms.   But, when lawyers do end up selecting specific softwares , they often do so in a hasty manner, just to ensure the painful process end s quickly .  In that case, the selected software is often not a good fit for the law firm, so that attorneys and staff end up wasting time building inefficient workarounds, that dress up the problem, and make the software just a little more palatable for the law firm ’ s use case.     Neither option is particularly compelling.     And, the truth of the matter is that the process of selecti ng the right software for a law firm is not an easy one , and it takes
Read more

Buried Treasure: What Software Features Are You Missing?

Image
What’s been great lately, is that lawyers are increasing their reliance on technology .  That means that law firms are adding efficiency, and revenue.     This is fantastic , absolutely .  But, there’s still more work to do.     That’s because lawyers may be overpaying for technolog y; and, it’s largely because they’re buying new stuff without looking harder at what they already have.   In fact , there are lots of instances where attorneys will purchase a new product without assessing whether they have that tool already included as a feature in another technology platform .  This often happens with productivity software and law practice management software .  The former can include tools like video conferencing and internal chat as product features (meaning you don’t have to pay any more money to use them); and, the latter can include tools like e signature and epayment as product features .  In some cases, and depending on a user’s subscription level, there may limitatio
Read more

Arrested Development: What Do Modern Law Firm Associates Want, Anyway?

Image
There’s a lot in flux around the legal industry of late .  Work roles, places and preferences seem to be changing constantly .  Yet, law firms continue to require associates to move business forward.     Managing partners often think, in these instances, about what the law firm needs .  But, even if in an employer’s market, it pays to consider what your associates ( and potential associates ) actually do want – especially if you want those associates to stick around for a while, along with all the capital you’ve invested in them.   One of the major challenges of hiring is that those doing the hiring are often a generation (or more) removed from those they are hiring .  There’s lots of barriers there to begin with; and , most of those hiring partners are not going to take the time to learn more about candidate preferences.     So, let’s do a quick crash course on what millennial ( and younger ) employees want out of an associate position:     Flexibility. Especially with the m
Read more