Professionals may argue on many topics, but the one issue they universally agree upon is that they hate keeping track of their time.
Why? Well, first of all, timekeeping is a hassle and it breaks the timekeeper's rhythm to enter in time after every activity or cluster of tasks. Second, they often delay completing timesheets until the last minute and are then faced with having to recall what they did, which can be very difficult, especially if the work occurred days or weeks before. Last, traditional timekeeping software that supports them does not suit their individual timekeeping style, forcing them into a regimen that does not meet their needs.
This is a real problem, because for most firms, timekeeping leads to billing, which leads to revenue. If timekeepers are not booking all of their time, then the revenue stream is disrupted and the business loses money - money that is never booked and money that is almost always pure 100% profit. That’s been the case – until now.
Introducing Smart Time
Smart Time from Smart WebParts is a new intelligent Time Capture and Time Entry software system developed to help timekeeping professionals answer the age-old question “What did I do today and is it billable?”
The web-based system polls across document and e-mail servers, calendars, phone switches and wireless devices to compile a detailed report of what the professional did during the work day. Smart Time helps professionals bill more accurately and completely for the work they actually did, and recoups lost or leaked time that leads to increased revenue.
Smart Time’s comprehensive time entry system uniquely supports a wide variety of timekeeping behaviors of billable professionals, including lawyers, accountants and consultants. And, as the name indicates, the system is smart. You can teach it which work is relevant to which client, case or project, and which work is not billable. Smart Time learns fast and the process becomes increasingly automatic, so eventually, it practically runs itself.
Smart Time Benefits
By simplifying the time note construction process and by finding missed or leaked time that may not otherwise get billed, Smart Time actually increases a firm’s booked hours and profitability, rapidly yielding a robust return-on-investment.
• Smart Time saves time. Reduces the time it takes to prepare timesheets.
• Smart Time increase accuracy . Improved transparency into worked hours.
• Smart Time increases billable hours. Use it to reclaim leaked time.
A Revenue Generator
Smart Time’s goal is to trigger the timekeeper’s memory to accurately book all the hours and partial hours worked throughout the day. Leaked time has forever plagued firms that bill by the hour. Timekeepers will no longer say, “I’ve been working for eight hours but only have six hours on my timesheets. That’s because Smart Time takes the pain out of preparing complete and accurate timesheets.
Finding an additional 1-2 hours of leaked time per week (50-100 hours per year) stands within reason. For example, a timekeeper with an average billable rate of $400 will yield an additional $20,000 to 40,000 in booked time per year. For a 100 timekeeper firm, closing the leak represents $2-4 million in incremental bookings. Smart Time will pay for itself almost immediately. It has a compelling return on investment.