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Best Practices for More Billable Hours ILTA Webinar

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.

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Best Practices for More Billable Hours ILTA Webinar

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  1. Best Practices forMore Billable HoursILTA Webinar Ray Deck

  2. Time is Money Memory is Fallible Forgotten Time = Lost Revenue

  3. 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

  4. Time Entry Is… Delayed • “No such thing as a mental note” • Lost activity means lost time • Lost detail means lost realization

  5. “Stick” Approaches • Policies • Payments • Punishments • Peer Pressure

  6. Just Do It

  7. Just Do It For Me

  8. Time Entry is… Specialized • AFAs • Electronic Billing • UTBMS

  9. Time Entry Is… Solvable! • Systems know what the attorney did. • Assistants know how to code and narratethe time – at a far lower cost!

  10. The Math: Part I Attorney billable Rate: $250 / hr Hours spent per month: 4 Total Cost / year $12,000 Assistant loaded rate: $35 / hr Total Cost / year $1,680 Unit savings from ZCT: $10,320 Total (100 attys) $1,032,000

  11. The Math: Part II 6 hours / month X 12 months / year X $250 billable rate X 100 Timekeepers $1.8MM Lost Profit

  12. Freed Time $1,032,000Additional recovery $1,800,000Total$2,832,000 The Math: Part III

  13. How?

  14. Time Capture Is… Information Not “tool” “Read” vs “Use”

  15. Time Capture Is… Attorney-Centric • It’s all about attention • Multiple locations • Multiple platforms • Wherever the attorney works

  16. Time Capture Is… Private and Temporary

  17. Time Capture is… Easy • Information = No Training • Automatic in the front, use at your pleasure • Universal Access: My time, everywhere!

  18. Truly Zero-Click • Assistants are trained, directable and more specialized • Substitutionvs Adoption

  19. Results Six more billable hours per attorney per month Increased detail improves realization (Almost) no training required

  20. Success Stories • Latham Watkins • Seyfarth Shaw • Greenberg Traurig

  21. Thank you ray@element55.com (617) 714-5785

  22. Microsoft Windows Mitel Mobile Activity NEC Nortel OneNote Opentext Outlook OWA Panasonic Powerpoint Safari Search Engines Shoretel Siemens Summation Text Messaging Toshiba Westlaw Word Worldox Capture More… Spend Less! Acrobat Android Avaya Blackberry Chrome Cisco Citrix Coral Cypress Desktop EDGAR Emails Excel Firefox Gmail Icore Internet Explorer Interwoven iPhone Iwatsu Laptop Lexis Nexis Lotus Notes $1,999/mo Firmwide – price locked for 5 yearsEligibility: Firms attending Forum who start pilot 90 days from event date

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