Desktop and mobile
Linked to work scope
Time recording is an essential part of any business, not just a legal one. It's not because clients are interested in the time spent on matters, it's because many clients now demand fixed or contingency pricing, and few clients accept time recorded as a measure of value since time is the cause of cost.
Time recording is a way of measuring of efficiency. Naturally, the faster work is done, the happier clients become, and the more work the firm can do. So tracking time and considering how to reduce the amount spent is essential for business improvement.
Notwithstanding the importance of time recording, we know many firms still struggle to get fee earners to record it properly and close it promptly. In a busy world, it's easy to lose time. Therefore we have built Panache Legal to automatically track the time users spend on a particular matter, reducing the chances of missing it.
We also know many firms judge performance by billable hours. This encourages inefficiency. We don't endorse that. Panache Time prompts fee earners to allocate time incurred to particular tasks, and separately allows lawyers to easily identify time spent on tasks that are out of the scope.
By linking to the scope, you can quickly see when additional work is being done and when to change your estimate. And by enabling analytics on the time recorded, Panache Data can show you where you work efficiently, and where you lose time.
Finally, Panache Billing is linked to Panache Time meaning you can produce bills directly from your time recording solution. How novel!