Capturing More Time and Billing It Too

Of all the elements everyone has to work with, none is more precious than time. Regardless of the basis upon which you bill your clients, meticulous timekeeping achieves multiple crucial goals.

For the lawyer who bills by the hour, your ability to accurately capture the quantity of your billable time directly affects the total amount of time you must spend working in order to meet your billable time goals; the greater your “capture” rate, the more time you can spend with your loved ones, on rest and relaxation, and pursuing your outside interests.

Your ability to accurately describe the quality of your billable time will allow you (or your firm) to craft timely, persuasive bills that stand the best chance of achieving every lawyer’s ultimate goal in every billable matter: a satisfied client who pays the bill promptly and in full.

For the lawyer who bills on a flat fee or contingent basis, your ability to accurately capture time will provide invaluable data regarding profitability of individual client matters, of practice areas, and even about efficiencies in the handling of matters.

In an article entitled “Capturing More Time and Billing It Too” which was recently posted to the web site of Freedman Consulting, Inc., the author provides 7 solid tips on improving timekeeping, billing and collection practices.

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