Despite much talk about alternative fee arrangements these past few years, many attorneys still bill for their time by the hour. Which means tracking your time and activity throughout the day is vitally important – timekeeping is the first step in creating invoices and getting paid. Without a good system for tracking time and billing clients, your firm’s profitability may be taking a hit.
Big law firms have a large administrative staff to handle these functions; smaller firms typically do not. Most small firm lawyers are on their own when it comes to timekeeping and they are often directly involved in billing as well. But time spent on accounting and administrative tasks are not billable hours and are almost never the best use of an attorney’s time or legal training.
Save time on timekeeping
There are already countless programs that can be used to track time and a vast array of choices when it comes to tools for billing your clients. But many of these are complicated and cumbersome, and often do not integrate well with each other, much less with your other law firm technologies. What attorneys really need is a single platform customized for the practice of law that includes timekeeping and billing, plus document management, case and matter tracking, a contact database, and even email and calendar functions. A singular tool is by far the most productive and least disruptive way to run a profitable practice.
Software as a weapon
Centerbase is that comprehensive and cohesive platform that integrates all the technology needed for a profitable, growing law firm. It levels the playing field and positions a small firm to compete with larger firms and their big pool of staff and resources.
Timekeeping in considerably smoother with the use of Centerbase, which plugs in information from a number of programs that you use every day to conduct business. With it you are able to convert appointments on your calendar to a time entry, record time as you save a document in Word, capture hours when you hit the send button in Outlook, even capture all the business activities conducted on your mobile phone if you’re working on the go. It basically does the leg work of capturing and recording billable activities as you go about your busy day as usual.
Centerbase can also help you transition to alternative fee arrangements with a powerful reporting function that allows you to decipher costs associated with any billable activity in your firm. You can view statistics on the time and expenses for any type of case or matter. This data gives you the information needed to create and offer fixed or flat rate fees to your clients. An accurate estimate based on historical data allows you to offer these alternative fee arrangements without sacrificing profitability.
Centerbase is a powerful weapon that helps your firm manage time, relationships, data and resources more effectively, efficiently and safely, with industry standard encryption methods to protect your clients’ information securely.