“The billable hour is not dead. An alternative transaction model has emerged as part of the legal industry’s transformation, utilizing the billable hour as an input rather than an output, a cost metric as opposed to a revenue metric,” says Zver. “If anything, the term billable hour should take second stage to the trackable hour that is either billed independently or packaged within a billable project/matter. Ultimately, hours worked that are billable are part of the cost equation in matter pricing,” he says.Read more
With all the buzz around the Flaherty-Suffolk Legal Technology Audit and lawyer tech proficiencies (LTC4), it’s high time firms inventories timekeeping methods and best practices. What works? What doesn’t? How do we go about it? How are firm’s measuring timekeeping ‘success’? What technologies and end points are involved… Is best-of-breed consumer driven timekeeping part of […]Read more
Law firms have always had a reputation for conservatism, extending to their adoption of technology. But they’re not daft and, as services from the cloud become more established, the reasons to feed/water/tend machines and software start to reduceRead more
Carpe Diem Next Generation addresses attorney technology proficiency; innovative UI/UX and overall time capture innovation London and Chicago – August 24, 2016 – Tikit, a leading provider of technology solutions and services to legal, accountancy and other professional services firms globally, today announced increased demand for its Carpe Diem timekeeping solution including Carpe Diem Next […]Read more
The success and ultimately the financial health of your law firm is dependent on three simple principles:• Getting the work – Clients are key• Doing the work – This goes without saying• Getting paid for the work – It’s not always as simple as it sounds
These things are impacted fundamentally by the way your firm records time and the way you analyze and subsequently manage timekeeping. And to have a true overview of this, you need to go back!
The firm is always looking to improve service delivery, and in 2014, we were struggling with a template management solution that was falling far short of what the firm wanted.Read more