Pathetic time-tracking in the legal profession (Edge International)

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I asked Todd Gerstein of Smart WebParts (www.smart-webparts.com) what his latest data on this subject looked like. He said: "Less than 40% of all timekeepers keep their time contemporaneously; the silent majority (60%) reconstruct their time when they prepare their time sheets."  He went on to say: "The compliance numbers are just terrible.  Most of the time, 80% of the partners are not in compliance.  Associates are not  in compliance 35-45% of the time."

 

Todd said this about Month-End Cutoff:  "We measure the amount of time that is put in after the month-end cutoff... which is at risk for billing and collection realization problems.  It is not uncommon to find 5-7% of time (WIP value) at risk to miss the billing cycle.  It also seems to be one of the issues that sets off managing partners."

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Published In: Professional Practice Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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