Today's issue of TL NewsWire covers a billing and practice management system designed to minimize lost billable time (see article below), a Bluetooth gadget for your car stereo, an iPhone and iPad accounting app, and early case assessment software. Don't miss the next issue.
PRACTICE MANAGEMENT INTEGRATION REACHES NEW HEIGHTS
LexisNexis conducted a pair of surveys of lawyers this year about billable hours, the results of which were so startling that they piqued the interest of the Wall Street Journal. For example, lawyers reported billing only 66% of the time they worked. Among the leading culprits — forgotten billable work caused by ineffective methods of tracking time. At least most lawyers are honest, but it's time to get paid for all your billable work.
Time Matters 12 … in One Sentence
Launched this week, LexisNexis' Time Matters 12 is a practice management and billing system.
The Killer Feature
Time Matters' new Time Entry Advisor feature minimizes lost billable hours. It presents all your unbilled activities in a spreadsheet-like view, enabling you to efficiently transform them into time entries. Time Entry Advisor lists calendar events, documents, email, tasks and more — virtually everything Time Matters organizes for you and your colleagues.
Other Notable Features
LexisNexis has also significantly enhanced Time Matters for Microsoft Outlook. For example, when you open a meeting in Outlook you can see you can see key Time Matters contact and matter data associated with each attendee. You can also open a Time Matters billing record from a client's Outlook email message to bill for the time spent to respond. The new capabilities complement the existing integration of Time Matters with Outlook and Microsoft Exchange Server, which enable you to directly synchronize your email, events, and tasks in Time Matters with Outlook.
"By expanding the integration of LexisNexis Time Matters with Microsoft Outlook, and through the addition of the new Time Entry Advisor feature, Time Matters 12 helps legal professionals operate more efficiently, while helping law firms increase revenues by capturing billable hours that might otherwise be lost," Mike Lipps, LexisNexis' Vice President and Managing Director of Legal Business Software Solutions, told us.
Other new features include the ability to save matter-related email messages in Time Matters as documents, improvements to TM Save (for saving documents directly to Time Matters from programs such as Adobe Acrobat), and integration with LexisNexis PCLaw 12, LexisNexis' legal billing and accounting software. Those who use LexisNexis Billing Matters software will find 34 new UTBMS codes (e.g., ediscovery), and the ability to copy Bill Profiles, Bill Preferences, and Rate Tables.
What Else Should You Know?
Time Matters runs on Windows PCs. LexisNexis sells Time Matters via an Annual Maintenance Plan, which in addition to all software updates also includes Time Matters Mobility for access to key Time Matters features from smartphones, online Anytime Training courses, and live telephone technical support. Learn more about Time Matters 12.
How to Receive TL NewsWire
So many products, so little time. In each issue of TL NewsWire, you'll learn about five new products for the legal profession. Pressed for time? The newsletter's innovative articles enable lawyers and law office administrators to quickly understand the function of a product, and zero in on its most important features. The TL NewsWire newsletter is free so don't miss the next issue. Please subscribe now.
