Best Practices for More Billable Hours ILTA Webinar
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Best Practices for More Billable Hours ILTA Webinar Ray Deck
description
Best Practices for More Billable Hours ILTA Webinar. Ray Deck. Time is Money Memory is Fallible Forgotten Time = Lost Revenue. Time Entry Is… Inefficient. Attorneys know what they did and why. Assistants couldn’t know that Therefore : Attorneys should do their own time, in real time. - PowerPoint PPT Presentation
Transcript of Best Practices for More Billable Hours ILTA Webinar
Best Practices for
More Billable Hours
ILTA Webinar
Ray Deck
Time is MoneyMemory is FallibleForgotten Time = Lost
Revenue
Time Entry Is… Inefficient
• Attorneys know what they did and why.
• Assistants couldn’t know that
• Therefore: Attorneys should do their own time, in real time
Time Entry Is… Delayed
• “No such thing as a mental note”
• Lost activity means lost time
• Lost detail means lost realization
“Stick” Approaches • Policies
• Payments
• Punishments
• Peer Pressure
Just Do It
Just Do It For Me
Time Entry is… Specialized
• AFAs
• Electronic Billing
• UTBMS
Time Entry Is… Solvable!
• Systems know what the attorney did.
• Assistants know how to code and narrate the time – at a far lower cost!
The Math: Part IAttorney billable Rate:$250 / hrHours spent per month: 4Total Cost / year $12,000
Assistant loaded rate: $35 / hrTotal Cost / year $1,680
Unit savings from ZCT: $10,320Total (100 attys) $1,032,000
The Math: Part II
6 hours / monthX 12 months / yearX $250 billable rateX 100 Timekeepers
$1.8MM Lost Profit
Freed Time$1,032,000
Additional recovery $1,800,000
Total$2,832,000
The Math: Part III
How?
Time Capture Is… Information
Not “tool”
“Read” vs “Use”
Time Capture Is… Attorney-Centric• It’s all about attention
• Multiple locations
• Multiple platforms
• Wherever the attorney works
Time Capture Is… Private and Temporary
Time Capture is… Easy• Information = No Training
• Automatic in the front, use at your pleasure
• Universal Access: My time, everywhere!
Truly Zero-Click• Assistants are trained,
directable and more specialized
• Substitution vs Adoption
Results
Six more billable hours per attorney per month
Increased detail improves realization
(Almost) no training required
Success Stories
• Latham Watkins
• Seyfarth Shaw
• Greenberg Traurig
Capture More…
AcrobatAndroidAvayaBlackberryChromeCiscoCitrixCoralCypressDesktopEDGAREmailsExcelFirefoxGmailIcoreInternet ExplorerInterwoveniPhoneIwatsuLaptopLexis NexisLotus Notes
Spend Less!
Microsoft WindowsMitelMobile ActivityNECNortelOneNoteOpentextOutlookOWAPanasonicPowerpointSafariSearch EnginesShoretelSiemensSummationText MessagingToshibaWestlawWordWorldox
$1,999/moFirmwide – price locked for 5 yearsEligibility: Firms attending Forum who start pilot 90 days from event date
