Keeping up with all your billable activities is like getting daily exercise: you know it’s good for you, and you really want to do it, but too often other things just get in the way.
And you’re not alone.
In fact, a LexisNexis survey showed many attorneys lose nearly 40% of their billable hours to bad record keeping and inefficient tracking.
It would be bad enough for just one week, but add that up for a whole year and it makes a huge difference to your firm’s bottom line.
Why That’s Harder for Solo & Small-Firm Attorneys
Lost billables are an even bigger problem for solo and small-firm attorneys. Why?
In a word: interruptions. Since solo and small law firm attorneys wear a lot of hats, they do a lot of things — sometimes all at once. These distractions interrupt workflow and make it tough to consistently keep accurate billing records, mainly because they’re recreated by hand later during downtime, and often in a word processing program.
So yes, better record keeping means more billable hours. But it also means more time away from serving your clients and growing your business — the ultimate lawyer’s Catch 22.
That’s why LexisNexis Firm Manager online practice management now includes the new Money Finder feature.
Money Finder Does All the Work. You Keep All the Money.
While you’re busy practicing law, Money Finder scours your data within LexisNexis Firm Manager and analyzes whether or not you’ve billed for all your activities.
Appointments, tasks, documents, notes, phone calls, and more are tracked and corralled on one easy-to-view screen.
You can then pick and choose whether you want to bill those activities now, later, or not at all.
Bonus: Get a Free Copy of the LexisNexis Billable Hours Survey
Above the Law readers can try LexisNexis Firm Manager free for 30 days to see just how simple online practice management — and recapturing lost billables — can be.
In addition, download a free PDF copy of the report that inspired Money Finder (no registration required).