#1 Issue in Accurate Legal Billing: Legal Billing Software for Dummies!

A recent study shows that the end to end process of time recording, data capture, invoice creation, editing, submittal and accounts receivable process, costs firm 6–11% in lost revenues. That figure represents gross revenues. If your firm is making 25% gross margin, its time recording and invoice receivables is costing it 32% of its gross profits, based on 8% lost gross revenues. If you’ve got a firm with a gross margin of 25%, your time recording is costing you 8% of your gross revenue.