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What Is Legal Time-Tracking Software? (And Why Do Law Firms Need It?)
Have you ever found yourself drowning in a sea of sticky notes at the end of the workday, trying to piece together how you spent your time? It’s a real drag.
Lawyers don’t exactly love having to add manual time tracking to their mental load.
Maybe you’ve wondered if there’s a more efficient way to log your tasks and accurately account for every billable hour.
Well, we’ve got some good news: there is a solution, and it’s legal time-tracking software.
But what exactly is it, and how can it transform the way you manage your law practice? Let’s take a closer look at its features and benefits so you can see how it can elevate your firm’s efficiency and profitability.
What is legal time-tracking software?
Every minute counts in a legal practice. But how often have you found yourself in the middle of casework, only to realize you’ve lost track of how long you’ve been absorbed in it?
Time management is a common challenge many legal professionals face, and it can significantly affect your firm’s bottom line.
Legal time-tracking software is a tool designed specifically for law firms and legal practitioners that’s used to record, track, and bill for hours spent on various legal tasks. It’s like a personal assistant who diligently notes every minute you spend on each case to ensure you get compensated for all your effort.
This software brings numerous benefits to your practice, including:
- Saves you and your staff precious time
- Enhances accuracy and efficiency
- Reduces administrative overhead
- Decreases the chance of errors
- Eliminates manual data entry
Demystifying the Billable Hour: How to Right-Size Your Rates
With prices rising so much over the last year (global inflation is forecasted at 8.8% in 2022), it’s the right time to look at your current rates and see if you’re charging enough to remain profitable.
The benefits of time-tracking software
So what’s the secret behind this software?
It goes beyond tracking time. The real magic lies in the variety of features it offers to revolutionize your time-tracking and billing processes.
Integration with accounting software
One of the standout features of legal time-tracking software is that it seamlessly syncs expenses with your firm’s accounting software, such as QuickBooks. Integration eliminates the need for manual data entry and accurately records and categorizes every expense, reducing the risk of error.
Even better, it automatically updates the accounting records in real time with any costs associated with a case, such as court fees and travel expenses. This saves time and provides a clear and updated financial overview of each case, allowing for better budgeting and financial planning.
Easy LEDES billing code entry
Look, we get it—no one likes to spend their workday searching for billing codes and inputting them into the billing system. In the past, that’s exactly what you would have to do. But with legal time-tracking software, adding LEDES billing codes is a breeze.
The software features a dropdown menu or a search function so you can quickly select the appropriate code for each task or expense. That means that every invoice you send out adheres to the industry standard, making the billing process smoother and more transparent for both you and your clients.
Detailed time and expense reports
Legal time-tracking software often has built-in data analytics features and dashboards that can generate detailed time and expense reports with just a few clicks. You can customize them based on specific criteria, such as:
- Date range
- Client
- Case
These comprehensive reports provide insights into work patterns, profitability, and areas that need a little WD-40. This valuable data can drive informed, data-driven decision-making and enhance client trust.
Real-time automated time trackers
Who wants to spend their time manually logging every minute? We know we don’t, and we’d bet you don’t either. With legal time-tracking software, you don’t have to.
Legal time-tracking software features automatic time trackers that run in the background. They capture every task you do, from drafting documents to client consultations. They’re also designed to recognize and categorize different activities so that every billable moment is captured.
And the best part? You can easily pause and resume the timer so that you don’t mistakenly log non-billable activities like breaks or personal tasks. This real-time record enhances accuracy and frees up valuable time so you can focus on what you do best: practicing law.
A centralized database
Constantly switching between applications can be time-consuming, error-prone, and quite frankly, annoying. But those days are over.
With legal time-tracking software, everything you need is housed within a single platform, making the time-tracking process more streamlined and intuitive. It also significantly reduces administrative overhead and lets you focus on your core tasks.
Automated billing transfers
Gone are the days of manually transferring logged hours to your billing system. Legal time-tracking software does it for you automatically. This automation provides several benefits, including:
- Eliminating manual data entry
- Reducing the chance of errors
- Allowing you to account for every billable hour accurately
For medium-sized firms handling a diverse range of cases, this feature makes invoicing timely, accurate, and reflective of the actual work done. The result? Improved client trust and consistent revenue flow.
Run multiple timers seamlessly
As a legal professional, you juggle multiple cases simultaneously. Legal time-tracking software can run multiple timers so you can transition from one matter to another seamlessly, with no gaps of lost time.
You can dedicate each timer to a specific task or case for precise tracking without any disastrous mix-ups. No billable hours will slip through the cracks with this feature!
Email and mobile tracking
A lot of legal communication and tasks happen outside of traditional case management systems, especially via email. Legal professionals are also often on the move, attending court sessions, meeting clients, or working remotely.
Legal time-tracking software can track time directly from emails or other programs and even on mobile devices.
Have a last-minute emergency call with a client? It’s accounted for.
Did a quick email consultation or document review? You can track it.
This feature lets you log every minute and every interaction, no matter where it happens.
Watch your billable hours shoot up when you use Rocket Matter
Legal time-tracking software is a strategic partner that empowers you to operate with precision, efficiency, and transparency. That’s why it’s an indispensable asset for any forward-thinking law firm. Automating mundane tasks, ensuring billing accuracy, and providing real-time tracking and insights sets the stage for future success.
Rocket Matter offers a comprehensive suite of software solutions tailored to the unique needs of law firms. Our commitment goes beyond just providing time-tracking software—we aim to be a partner in your firm’s growth. Building your business, click by click, has never been so easy!
Are you ready to transform your firm’s time tracking and boost your profitability? Schedule a demo or start your free trial of Rocket Matter today.
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