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How Much Money is Time
Really Costing You?
Lawyers lose on average
33% of billable time
through a lack of time
recording d...
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How Much Money is Time Really Costing You? A Quick Guide for the Business Minded Legal Professional

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How much money do you never bill?
How much money is lost every year per lawyer?

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How Much Money is Time Really Costing You? A Quick Guide for the Business Minded Legal Professional

  1. 1. How Much Money is Time Really Costing You? Lawyers lose on average 33% of billable time through a lack of time recording discipline 52%Of Lawyers are not happy with their current Billing Method 68%Of Firms who use Fixed billing (AFA) do not know their cost of sales! 97%Of Lawyers prefer to use Timekeeping software vs traditional methods $16%of Lawyers are unable to tell which is more profitable: Fixed or Hourly Billing Many lawyers using AFAs (Fixed Billing) are reverting to time billing as an additional method to review and manage profitability or plan budgets A Quick Guide for The Business Minded Legal Professional 200 Hours are lost per year per lawyer 3 out of 9 Ho u rs rem ain u n b illed £36K Lost per year per Lawyer 1/10 of time is lost if n ot record ed u ntil th e en d of th e d ay Top 3 reasons why firms record time when using AFAs (Fixed Billing): Example 1 Example 2 Example 3 Learn more and sign up for a free trial: www.lawyertime.zone Findings based on Interviews carried out with 80 lawyers in UK Assess the profitability of a matter Measure a lawyer’s productivity Prepare realistic budgets Billing and Timekeeping Software for the Legal Profession

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