Embed Size (px)
Citation preview
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 1
How to Choose a Timekeeping
Solution for Your firm
Matt Yezovich, Sales Director
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 2
Something for Everyone Today
The state of time entry
Understanding your firm’s
baseline
The 3 main pillars
Top 10 must-haves
Achieving timekeeping
success
iTimeKeep in action
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 3
It’s Complicated: The Attorney-Technology Relationship
“Attorneys don’t fear technology, they fear wasting their time”
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 4
The State of Time Entry: What Your Firm Should Know
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 5
The State of Time Entry 2016 Law Firm Time Entry Survey
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 6
The State of Time Entry 2016 Law Firm Time Entry Survey
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 7
Your Time Entry Baseline4 KPIs Your Firm Should Know
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 8
The number of days between the work done and recorded. The longer the velocity is, more time leakage,
write offs and invoice rejections are expected.
Partner is 7.5 days and Associates 6 days – even when most firms time entry policy calls for same day time entry
(velocity less than 1 day).
Your Time Entry Baseline
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 9
The % time entered the same day. Why this is important? Because it is the only way to create the most accurate
records and reduce time lost.
Only 5% of attorneys or less meet the one-day policy, 15% of attorneys enter time under 3 days and the remaining 80% happens after that.
Your Time Entry Baseline
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 10
As more attorneys enter their own time, they are demanding better tools including mobile timekeeping.
About 60% of associates enter their own time as opposed to 35% of Partners that enter their own.
Your Time Entry Baseline
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 11
As more attorneys enter their own time, we see more granularity (smaller timecard size)
Average timecard size for Associates is 1.5 and Partners 1.8
Your Time Entry Baseline
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 12
Choosing a Timekeeping Solution3 Main Pillars
SIMPLICITY SECURITY CONTEMPORANEOUS
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 13
The Simplicity Pillar
“Simplicity is the ultimate sophistication”
Leonardo da Vinci
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 14
The Simplicity Pillar ChecklistInsanely easy to useVirtually no trainingTurn-key solutionSeamless integration (2-way) with T&B SystemYour rules, everywhereMaximum engagementBest customer service
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 15
The Security Pillar
“We have always assumed that data stored on mobile phones is safe. Today we use our mobile phones to send sensitive data, store important information, and
even digitally sign on major documents. There is, therefore, greater threat to data
security on mobile phones today” -
Ankit Fadia
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 16
The Security Pillar ChecklistNo data stored on mobile devicesPrivate network protectionKeep client data in your account systemTwo-factor authentication & Touch IDCode-certified solutionData encrypted in-flight and at restNo passwords stored on mobile deviceSafe to run without MDMCompatible with your MDMMinimum password requirementsAutomatic account lockout
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 17
The Contemporaneous
Pillar
“Attorneys can lose up to 25% of billable time by not entering their
time contemporaneously.Even if lawyers are billing on flat-fee basis or contingent-fee basis, real-time timekeeping is a good idea”
- Lynda Shely
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 18
The Contemporaneous Pillar ChecklistMeasurable results on monthly basisVisibility into your time entry KPIsMobile Timekeeping Manage your time entry policy
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 19
Other Top 10 Must-Haves1. Native apps as opposed to HTML52. Works on both PC and Mac3. Smart timers4. View & edit timecards created in your T&B System5. Avoid uploads/download from/to your T&B System6. Instant upgrades & updates7. Understand the difference between paying yearly and a true SaaS subscription
model8. REAL TIME9. No-nonsense pricing10. Stellar rollout and implementation
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 20
Success You Should Expect
85%Contemporaneous
5x Faster
15%More time
0.2 to 1 hour/day
With iTimeKeep, more attorneys have become
contemporaneous
With iTimeKeep, time is getting into
your system 5x faster
Attorneys using iTimeKeep enter 15% more time than those who
are not
Recover between 0.2 to 1 hour a day
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 21
Meet Kat Joyce: A True Story
“Until recently, I was notoriously the worst timekeeper in the whole firm.”
“If I am unsure about my estimate, I’m not going to over bill my client. Therefore, I would continually
under-estimate – and lose money,”
“It was very intuitive and easy to use. All the excuses that I’d come up with about why timekeeping is hard and a pain in
the neck; too many steps – were all gone.”
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 22
Let’s See it in Action!
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 23
Focus on One Thing in 2017…Timekeeping
• Paul O’Neil• Alcoa CEO, 1987 – 1999• Alcoa market value $3B in 1986, $27B in 2000
Focused on ONE thing at Alcoa…Safety!
WEBINAR: HOW TO CHOOSE A TIMEEKING SOLUTION FOR YOUR FIRM | 24
You Contact UsPhone: 1-888-333-2281Email: [email protected]
www.bellefield.com
