Three Tips for Better Billing

Looking to improve your firm’s time recording & billing?

Here are 3 quick steps to make a change:

1. Tech Challenge – Everyone learns at different speeds, yet comfort with technology impacts profitability.

Action – 2-3 times a year, send a checklist, with key elements of your CMS. Fee earners can tick the area they would like to refresh. It also prompts anyone out of the habit, of using certain parts.

2. Bottom Line – The impact of forgetting to record even one unit of time, or double discounting (not recording the time & later writing-off time as well), is underestimated.

Action – A few times a year, send out a gentle reminder, with the calculation of missing a unit or two, over the working year. It amounts to thousands.

3. Money Mindset – Many are unaware of the influence of their beliefs, around charging certain types of clients, or for certain types of work, or discomfort with the possibility of complaints, or their own beliefs on what is valuable for spending, has on generating or charging for work. Focusing solely on technology or time skills, may have a limited lasting effect.

Action – Use meetings to create awareness, share the elephant in the room, & consider offering training.

Which tip feels most useful?

If you want to know more, please get in touch.

Simona