by profitsolv | Mar 25, 2025 | Time and billing, TimeSolv
Time is money in the legal industry. But hear this: attorneys spend 1.1 hours a day on the phone doing billable work — though only roughly 20% of it ever gets billed. A law firm with 100 attorneys and an average blended billable rate of $300 an hour leaves a big chunk...
by profitsolv | Mar 24, 2025 | Time and billing, TimeSolv
Trust account reconciliation allows your law firm to remain compliant with regulatory guidelines while also promoting transparency. However, even accidental or minor fund mismanagement issues can tarnish your reputation and erode client trust. Despite the undeniable...
by profitsolv | Mar 6, 2025 | Time and billing, TimeSolv
Billing is a non-negotiable for every law firm, but if done manually, it’s a tedious and error-prone process that can easily put your practice at risk. Relying on outdated systems such as spreadsheets, or even worse, pen and paper, to track billable hours leaves your...
by profitsolv | Feb 20, 2025 | Time and billing, TimeSolv
Low productivity is putting a strain on the growth of law firms in the United States, according to a 2024 industry report by Thomson Reuters. A key factor behind this is a sharp drop in the percentage of billable hours that lawyers invoice and successfully collect...
by profitsolv | Feb 6, 2025 | Time and billing, TimeSolv
The new year is officially here, which means now is the perfect time to solidify your 2025 law firm business plan. A well-crafted business plan serves as the cornerstone for any successful practice, providing a clear roadmap to navigate challenges. Whether you’re...
by profitsolv | Feb 3, 2025 | Time and billing, TimeSolv
TimeSolv’s Scheduled Reports feature can save you time and effort by automating your reporting process. Instead of manually running reports every week, you can schedule them to generate automatically. Here’s how you can ensure your scheduled reports always pull the...
