Four most common mistakes with Time Recording
Is your firm leaving money on the table?
• Do your fee earners under record time worked, both in and out of the office?
• Is the inconsistency between fee earners in terms of how they record their time making the billing of clients fairly difficult?
• Are fee earners writing poor narratives that fail to communicate value delivered to clients?
• Is your finance director frustrated by late timesheet submissions?
• Does your firm lack an up-to-date time recording policy that clarifies best practice and your expectations?
If you answered "yes" to any of these questions, your firm is likely missing out on significant revenue opportunities.
The proven path to greater profitability
This online training teaches you the exact strategies used by leading law firms to:
Inside the training:
Lesson 1: Why time recording matters
• The direct connection between time capture and firm profitability
• How proper time recording provides critical management insights
• The hidden costs of poor time recording practices
Lesson 2: Time recording principles, policies & FAQs
• The four key principles of time recording that help to establish effective time-recording policies that work
• Separating time recording from billing by using better language
• Creating systems that encourage compliance
Lesson 3: Practical considerations when time recording
• Writing value-focused narratives instead of process-focused descriptions
• Using "billing notes" to streamline the billing process and maximise revenues
• Ensuring time recording delivers useful management information
• Practical tips to align your time capture with industry best practices
Preview from lesson 1
Preview from lesson 2
The benefits of effective time recording
Better understanding of what things cost
Quantify a fee earner's financial contribution
Drive improved efficiency and pricing
Ensure work is done by the right people
Improve overall firm profitability
Get properly paid for the work done
About your trainer:
Robert Mowbray
With over 30 years of experience working in and with professional service firms, Robert Mowbray is an expert in the profitability and management of these businesses.
Robert trained in the early 1980s with PWC and spent 20 years as a partner at Macintyre Hudson LLP before setting up Taylor Mowbray LLP with Janet Taylor in 2009 to be a niche and independent advisor to professional service firms.
- Provided training and consultancy to over 750 firms across nearly 50 countries
- Author of "Maximizing the Profitability of Law Firms"
- Former author of the Law Society's annual financial benchmarking survey
- Voted "Trainer of the Year" by the Legal Education & Training Group
Robert's clients have ranged from global firms to regional practices and entrepreneurial smaller firms. His unique experience puts him in a position to independently and authoritatively help professional firms develop their people and their business.
Case study: How an international firm improved profitability with effective time recording
A major international firm had struggled for over 100 years to get fee earners to fully record their time, recognising the significant impact this had on profitability.
Who is the training for?
• Managing Partners seeking to improve firm profitability
• Finance Directors frustrated with current time recording practices
• Practice Group Leaders looking to improve team performance
• Individual Fee Earners wanting to maximise their financial contribution
This training is designed for professional service firms looking to:
• Improve overall firm profitability through better time recording practices
• Address challenges with inconsistent or incomplete time recording
• Implement effective time recording policies across the organisation
• Enhance the quality of narratives in time records
• Maximise the financial contribution of all fee earners
• Develop consistent time recording behaviours firm-wide
What our clients say
“Excellent. Robert is down to earth, jargon free and the topic was extremely topical. Really enjoyed this”
“Robert is the Rolls Royce of trainers”
Invest in your firm's profitability with this 3 part time recording training.
Pricing
If you require training for over 100 people, please contact us for bespoke pricing at info@taylormowbray.com
