Rocket Matter Soars Higher By Automatically Tracking Time Everywhere And Adding Access To ChatGPT
Rocket Matter Track automatic timekeeping logs your time in all your office applications, including email and web browsing.
Image courtesy of Rocket Matter.
Rocket Matter is a law practice management (LPM) Software-as-a-Service (SaaS) provider, part of ProfitSolv’s software suite for professional service organizations. Since ProfitSolv acquired Rocket Matter in 2020, it has enhanced and added functionality to the LPM software by leveraging its organic growth and acquisitions, including secure file-sharing, electronic signatures, and a tightly integrated customer resource management (CRM) system. Rocket Matter maintains its development group and direct sales team, offering the LPM software in feature-based, tiered pricing plans.
Timekeeping and Billing
The dashboard view in Rocket Matter features a calendar timesheet, which provides a monthly view of time records and calendar events for you to review, edit, and create new items and set reminders. Click on a day to check calendar entries and time sheets. See Figure 1.
Figure 1: The Rocket Matter dashboard features a calendar view of time records and events, user billing (hours billed), and firm billing (trust balance over pending invoicing).
You can configure the user billing widget to display the number of hours billed for the day, week, or month. When you click on the widget, Rocket Matter shows the billable activity by user report in tabular format filtered by the logged-in user. If you have permission (Rocket Matter supports over 700 granular, role-based permissions to protect client and firm data), you can filter by other users and view firm billing, drilling into trust account balances and pending invoices.
When you drill into invoices, Rocket Matter displays its batch billing interface, where you can run invoices for the entire firm in one click. Before that, you can run prebills, send them out for review, and adjust them as necessary. Then, generate invoices using four predetermined templates or use custom templates in PDF, Word, or Excel format. See Figure 2.
Figure 2: The Rocket Matter batch billing interface provides access to review, edit, and generate invoices.
You can share invoices via email and client portals, and clients can use a secure web link to pay via credit card or electronic check (ECH) with Rocket Matter Payments. Some high-end billing features include holding fees and costs from invoices and placing holds on invoices with one click. Apply fixed percentage discounts, convenience fees, and interest rules to invoices and debit trust accounts to pay current charges. Rocket Matter supports client and matter-based trust accounting. CosmoLex by ProfitSolv can manage a law firm’s bookkeeping and accounting work in a single legal accounting software program if you need a full-featured accounting package. Otherwise, you can integrate Rocket Matter with QuickBooks Online.
Time tracking remains challenging for busy timekeepers, and you may forget to record a time slip if you don’t bill time as you perform a task or other action for a client. To avoid this issue, Rocket Matter’s time tracking tools are available online and in Office 365 apps, including Outlook and Word. Rocket Matter allows you to associate a matter with a calendar event, task, note, or other action when you create it and mark it billable. After the event, or when the action is complete, Rocket Matter automatically creates a time entry for your work and bills the matter. You can also use timers on the web and mobile apps to create time entries. Still, it’s too easy to forget how you spent your day in the detail required to generate time slips. To help you out, Rocket Matter offers Rocket Matter Track. Rocket Matter Track automatic timekeeping logs your time in all your office applications, including email and web browsing. Download Track to your local computer or device, log in to Rocket Matter with your credentials, allow the app to record the computer screen, and create timers for client matters that automatically sync back to your online account. From Track, drag the appropriate activities to the timers you made for matters. See Figure 3.
Figure 3: Rocket Matter Track, an automated time tracking system, frees you from spending time on time tracking and reports on how you spend time each day.
Rocket Matter supports LEDES (Legal Electronic Data Exchange Standard) 1998 and 1998B billing and Uniform Task-Based Management System (UTBMS) codes. But if a client has specific LEDES-based billing requirements, Rocket Matter supports custom field mapping—no programming knowledge is required. It supports bundling multiple client invoices into a single document with a cover sheet. Rather than receiving multiple emails with attachments, a client gets one email with an attachment containing numerous invoices.
You can also choose how you want to handle trust balances when generating invoices: apply trust balances to invoice amounts, hold trust balances in reserve to adjust invoices later, or do nothing and manage the payments manually. Like other documents generated in Rocket Matter, such as merged documents, invoices are automatically stored in the client’s matter documents folder.
Document and Workflow Automation
Rocket Matter document automation reduces clerical errors and allows you to track the time spent in template and document production. You can upload templates, documents, or forms to use as templates in Rocket Matter. Edit merged fields and repeated content, such as client, matter, and court information, in the uploaded templates and replace the content with Rocket Matter’s merge fields. When you automate document generation from a template, Rocket Matter replaces the merge fields with the client matter information in the database and stores the new document in the matter’s documents folder.
You can securely send files to clients and request electronic signatures from the web application or the Microsoft Outlook plugin. Recipients can open and sign documents from a smartphone, tablet, or desktop computer. Contacts and clients can sign and return files using a secure upload link, and Rocket Matter saves the files in the corresponding matter workspace. Rocket Matter file-sharing features include secure client portals. Workflow automation through legal project management in Rocket Matter empowers you to develop reusable templates and apply them to cases to generate tasks and staff assignments automatically, create trust accounts, and populate matters with custom fields. Templates can also fix the case type and billing preferences and engage workflows.
View workflows and case progress in charts or on Kanban boards, where you can drag and drop matters to update status. Every case follows a series of steps from intake to resolution that is easily mapped onto a Kanban board to track progress in columnar format. Rocket Matter can trigger task assignments and notify staff when you drag and drop a case from one column to the next.
Legal CRM
Rocket Matter’s built-in Legal CRM allows you to intake potential clients, track leads, manage contacts and relationships, create automated marketing campaigns, and view metrics and new client reports. When potential clients contact the firm, track their progress from marketing campaigns to a signed retainer.
The CRM tool can send leads a personalized follow-up email or SMS text with an intake form that populates data into the CRM, saving time and reducing errors. After review, send the lead a rejection letter or a one-click link to a client retainer with an e-signature request. Then, one click converts the new client data into a unique matter in Rocket Matter, where you can continue to automate by creating a new project and using the Kanban board to review case progress.
Business Intelligence
Leverage Rocket Matter’s Business Intelligence module to build custom reports, empowering you to mix and match data and report it to make more informed decisions, find opportunities, and increase profits. Use key performance indicators (KPIs) such as throughput rate, average case value, and the time it takes to complete a matter from start to finish.
The graphical UI makes it easy to build reports using a panel of five data sets and their associated fields, including custom fields and tags. Data sets include activities, contacts and clients, invoices, matter rates, and matters. Select a data set, and its fields come into view in the left panel, where you can drag and drop them onto the main page to filter and group data in columnar views.
Integrations
Rocket Matter supports integrations with many tools you may already use, including Office 365, QuickBooks Online, Dropbox, Evernote, and ChatGPT. The Office 365 plugin allows you to track billable time, edit documents in Microsoft Word and PowerPoint, and save the information to Rocket Matter with versioning support. With an Outlook plugin, you can track time spent on email, synchronize Outlook contacts and calendars with Rocket Matter, and save emails and attachments directly to their respective matters. Other integrations include Google Calendar, LawToolBox, and Microsoft OneDrive.
The bidirectional OneDrive sync automatically makes a folder for the client workspace when you create a matter. When you save documents in the client folder, they appear in the web app, which also provides a widget to use Microsoft Word online to create and share documents.
With every Rocket Matter license, you get access to OpenAI’s ChatGPT to get a jump start on document creation by sending queries or prompts and copying the output into a new document. Rocket Matter does not expose any of your data to OpenAI.
Latest Developments and Updates
· The web-based dashboard displays a calendar view of timesheets.
· Rocket Matter Track automatically tracks time.
· Flag and list vendors separately in contact management.
· Improved and refined the granularity of QuickBooks Online integration.
· Access to ChatGPT to jump-start document generation.
Pricing
Rocket Matter sells its software directly using predictable and competitive subscription models. It offers three plans in tiered feature packages, ranging from basic features for law firms to get started with LPM and time and billing to a full-feature plan for firms with enterprise needs. Essentials, Pro, and Premier plans start at $39, $69, and $89 per user per month (paid annually). The CRM tool is an add-on cost to the Pro and Premier plans.
Who is Rocket Matter?
Rocket Matter is a cloud-based practice management, legal billing, and payment processing software provider based in Boca Raton, Florida. Since 2007, the company’s eponymous software-as-a-service has helped make law firms productive and profitable. Rocket Matter is part of the ProfitSolv suite of practice management tools for professional service practices, including marketing and client intake, payment processing, file sharing, and electronic signatures. With ProfitSolv, Rocket Matter has more than 575 employees who support more than 100,000 professionals in more than 250,000 matters and projects.
Why Buy Rocket Matter?
· Automatically track time across all applications, events, and activities and quickly add the records to timesheets.
· Turn time and expense records into prebills and invoices and edit, manage, and send them from one interface.
· Use legal project management to generate and assign tasks and view case progress in Kanban boards.
· Legal CRM tracks leads, manages contacts and relationships, and creates automated marketing campaigns.
See Rocket Matter Today!
See how Rocket Matter can make your life easier and your firm more efficient. Schedule a demo today!
