LAW PRACTICE MANAGEMENT CASE STUDY

Adam Maingot

Emily Pabalan

Mason Pokorny

Amy Recla

Areas of Focus

Document management Time / Billing / Accounting Managing the Legal Calendar Website recommendations

Document Management

DOCUMENT MANAGEMENT:WORLDOX®

• What it is:

A document management system that organizes documents and puts them in their correct file (client, case)

Combines all docs into main office computer in a manageable, accessible format after scanning

Worldox® Benefits

Organizes: All docs (incoming and outgoing) are entered into computer via scanning and linked to client’s case (links to Amicus Attorney®, etc)

Cleans up office space: allows scanned docs to be stored elsewhere, out of view

Saves time: access any file regarding any client or issue by simply clicking through files—no more sifting through piles of paper

Affordable: less than $400 per user for the license and $84/month for maintenance

Worldox® Versions

Mobile access is available for higher fee, allowing users to access docs from any mobile device

For less fee, can consider the CompleteCloud version: no software to install, no upgrades to worry about, and at lower cost (about $150 per user per month)

All versions save attorney time and improve efficiency

Tracking Time and Billing Clients

Billing/Accounting – 3 dimensions of lost revenue

Inefficiency = lost hours , lost $$$

Inaccurate recognition of time = lost hours , lost $$$

Lack of business intelligence= inappropriate resource allocation, lost $$

$

Billing/Accounting - Current State

Tort Cases are billed on a contingency fee basis

Non-Tort Cases are billed on a per hour basis

Time is recorded on paper time sheets

Time sheets are routed to paralegals

Billing/Accounting: (D1) Inefficiency

Attorneys must take time out to:- Note Time- Reconcile / tabulate

daily/weekly totals

Billable time is lost on accounting functionParalegals must take

time out to:- Reconcile / tabulate

daily/weekly totals- Entering the time

into the paycheck system.

This function could be eliminated entirely

Billing/Accounting: (D2) Inaccuracy

Hours are lost when they are not recorded in real time.

You forget

You under-represent your time because “it took longer than expected”

You went to school for law… not calculus = “I don’t count so good” – aka careless math errors

Billing/Accounting: (D3) Tracking

Time wasted on unprofitable ventures is revenue lost

Without an accounting/billing system, it is hard to track the profitability on the “contingency fee” stuff

What are your days in AR? Which clients pay? Which clients pay A LOT?

Your billing and Accounting System should tell you where your future efforts should be directed.

Billing/Accounting Future State

Purchase law specific Billing and Accounting software

PC Law - 5 User Firm – 2,879.00Tabs3 – 5 User Firm – 660.00 (time)

This cost is returned after properly accounting for just 20 hours (hourly rate 150.00 * 20 hrs = 3,000)

Billing/Accounting Future State

Immediate Benefits (from Start Up, Reboot, Reload)

Better Time Management

Efficient Hourly Billing

Discovering your true costs

Billing/Accounting – How to:

Provide training on how to use the software

Create Software Specific Policy / Procedures to ensure everyone understands best practices

Open up PC Law Matter window and track time as it happens

Review / Reconciled total hours at the end of the billing cycle

Record ALL hours

Billing/Accounting – How to:

Schedule client bills to drop at specified due dates.

Set the weekly drop date to a finite day of the week

Tie compensation to billing metrics Pay bonuses on billing accuracy

Billing/Accounting Future State

And most importantly:

Sit back and enjoy increased Bottom Line Profitability

Managing the Legal Calendar

Managing Your Calendar

Case Management Software Manage your calendar as it relates

to others in your firm Variations of people and resources Day, week, month, etc. Easily changeable, easy to read

and easy to find times of availability (yourself and others)

Recommendation

Amicus Attorney Small Firm Edition

5 users: $2,095 for licenses + $1000 for maintenance = $3,095

Multiple Functions Works w/ WorldDox Customized to your

needs

Considerations

Questions to answer beforehand Information you will need to gather Installation Training Maintenance

Maximizing your Website

Website Recommendations

Include photos and bios of all attorneys Make the site interactive List all areas of law practiced Be a source of the latest information in

the field Bright colors User friendly

Marketing Ideas

Designate a “face of the firm” Join Chamber of Commerce Join Rotary, etc. Attend charity events• Try Pay-per Click Ads• Keep in contact with prior clients and

potential clients

Thank you!