Time Tracker Legal Software Automation Improves Law Firm Efficiency and Success
NEW JERSEY, NY, February 25, 2019 – The 2018 Clio Industry Report asked over 70,000 legal professionals what goals define their firm’s success and 84% placed revenue at the top of the list. Improving the firm’s operational efficiency came in just below at 80%. Law firms also consistently struggle to dedicate time to billable work. In an average 8-hour workday, utilization rates (the number of billable hours worked divided by number of hours in a day) was just 30%; a mere 2.4 hours of the 8 hours worked. When you factor in the number of billable hours that don’t get reflected on an invoice and the amounts which never get paid, the average lawyer earns just 1.6 hours in billable work each day. This data suggests strongly the crucial need for improved efficiency and automation to increase revenues and prevent serious profitability issues.
eBillity’s Time Tracker Legal software enables law firms to automate their time tracking, expenses and billing. The mobile app allows the user to set up push notifications to remind them to track time, and has multi-timers that can automatically track their time by different clients with a push of a button. This automation alone can reduce administration time by up to 10+ hours per month, and by tracking time down to the second, billable hours have proven to increase by up to 20%.
Dennis Murphy from Hill Law Firm one of eBillity customer’s states, “my experience with Time Tracker over the past five years has been strongly favorable. I like that I can track my time not only by date but also across matters. The report function allows me to see how much time has been billed to each matter at any given period.”
Time Tracker’s free apps for Outlook and Windows 10 allow the user to convert emails and calendar events into time entries and work offline. The product also connects with Apps like IFTTT and Zapier to automate repetitive tasks. Law firms can also automate expense tracking by taking a photo of their receipt and attaching it to an entry and then syncing it with their accounting software for reimbursement and client invoicing.
The Industry Report also indicates that clients are wanting the ability to check online the number of hours spent on their case, with 50% saying they’re more likely to hire a lawyer who takes electronic payments, 47% more likely to hire a lawyer who accepts automated payments, and 40% saying they would never hire a lawyer who didn’t take debit or credit cards. With Time Tracker law firms can turn their time and expense entries into branded client invoices in seconds, connect their account to Stripe to have payment links automatically added to invoices for immediate online payment. Clients are also able to login to their client portal and view completed work, outstanding invoices and pay bills online.
To complete the time, expense and billing cycle there are apps that allow firms to automate their accounts receivable such as Invoice Tracker by eBillity which connects with accounting platforms and practice management software like Clio to improve cash flow by getting firms paid faster. Invoice Tracker sends automatic invoice reminders, accepts online payments and reconciles once payments are made.
eBillity is looking forward to their attendance at the ABA TECHSHOW and will be exhibiting at booth #116.
“Being able to showcase our time tracking software specifically built for law firms is exciting for our team, and we look forward to showing legal professionals how automation can improve their law firm’s bottom line, says Douglas Dweck, COO and Co-Founder.”
VP Business Development
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ABA TECHSHOW is an annual legal technology Conference and EXPO designed to bring lawyers and technology together for three days of CLE and networking. Presented by the ABA Law Practice Division, ABA TECHSHOW helps lawyers practice efficiently through the use of technology.