LexisNexis Adds “Time Entry Advisor” and Integration with Microsoft Outlook
to Time Matters Practice Management Software for Law Firms
Time Matters 12 Helps Lawyers Record All Billable Hours Worked and Streamlines
Law Firm Practice Management Activities
NEW YORK -- December 05, 2012
LexisNexis^® Legal & Professional (www.lexisnexis.com), a leading provider of
content and technology solutions, today announced the latest release of the
company’s award winning Time Matters^® practice management software for law
firms. Time Matters 12 helps legal professionals capture and record billable
time using the new Time Entry Advisor feature, and with the improved and
expanded Time Matters software add-in for Microsoft^® Outlook^®, ^ lawyers can
work more efficiently.
“By expanding the integration of 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 and helps law firms to
increase their revenues by capturing billable hours that might otherwise be
lost,” said Michael Lipps, vice president and managing director, Legal
Business Software Solutions for LexisNexis Legal & Professional.
The new Time Entry Advisor feature automatically tracks unbilled documents,
events, tasks and other work, to help remind users to complete billing
information for those activities. Unbilled activities are presented in an
easy-to-use spreadsheet with filtering options enabling lawyers and other firm
personnel to access a chronological view of potential billable entries the
application has recorded. Users can then click on individual tasks they wish
to enter as billable client work and update the time record accordingly.
Additional filtering options allow users to view unaccounted tasks by date,
matter, client, lawyer or type of task for easier recollection and time
coding. Ultimately, these features enable attorneys and firms to account for
and invoice billable client work more accurately to help increase firm
According to a LexisNexis survey conducted in May of this year, attorneys
polled claimed they typically bill an average of only six hours out of an
average nine-hour work day. This represents as much as a 33 percent loss of
possible billable time per year. Based on an average blended billable rate of
around $200 per fee earner, this could equate to a possible $110,000 in
additional annual revenue per attorney.
A follow-up survey was conducted in July to help determine how these
non-billable hours were spent. The survey showed that “Practice Management and
Administrative Tasks” were the biggest culprit, and a further ten percent of
survey respondents claimed they couldn’t accurately account for all their time
as a result of their chaotic schedules (e.g. travel to and from court),
coupled with a variety of personal distractions.
Time Matters^® for Microsoft^® Outlook^® is a new software add-in for Outlook
that provides views of and access to relevant Time Matters data directly from
within Outlook. Users gain one-click access to relevant practice management
data – including documents, contacts, notes, billing information and more –
without ever leaving Outlook. Users can also save a Microsoft Outlook email
(as well as single or multiple attachments to each email) as document records
within the Time Matters program. Providing lawyers access to important case
information from within the Outlook application many if not most use every
day, enables them to prepare more efficiently for a client meeting or phone
call and then complete a billing record for that activity.
Time Matters is a flexible practice management application that allows law
firms and other organizations to manage and collaborate on legal matters and
to streamline their operations to increase profitability. Through the Time
Matters^® Mobility service, key features of Time Matters can be accessed using
Internet-connected smartphones and other mobile or tablet devices, allowing
legal professionals to be productive even when they are not in the office.
Click on the following link to learn more about all of the new features and
enhancements in Time Matters 12: www.timematters.com.
About LexisNexis Legal & Professional
LexisNexis^® Legal & Professional (www.lexisnexis.com) is a leading global
provider of content and technology solutions that enable professionals in
legal, corporate, tax, government, academic and non-profit organizations to
make informed decisions and achieve better business outcomes. As a digital
pioneer, the company was the first to bring legal and business information
online with its Lexis^® and Nexis^® services. Today, LexisNexis harnesses
leading-edge technology and world-class content, to help professionals work in
faster, easier and more effective ways. Through close collaboration with its
customers, the company ensures organizations can leverage its solutions to
reduce risk, improve productivity, increase profitability and grow their
business. Part of Reed Elsevier, Inc. LexisNexis Legal & Professional serves
customers in more than 100 countries with 10,000 employees worldwide.
LexisNexis helps professionals at law firms and legal departments of all sizes
manage the business element of their practice with innovative software and
mobile solutions for customer relationship management, competitive
intelligence gathering and assessment, time and billing management, matter
management, client analysis, legal holds and more.
LexisNexis Legal & Professional
John Michaels, 202-857-9121
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