Zepto - Intelligent timekeeping

08/19/2021

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05/11/2020

"[...] the utilization rate (i.e., the number of hours billed divided by the number of hours worked) for lawyers is only 30 percent.

This means approximately one-third of the attorneys’ workday is spent on billable hours. Furthermore, the realization rate shows that only 81 percent of billable hours worked are invoiced, and the collection rate averages a mere 85 percent.

Following those rates, American lawyers derive revenue from not quite 21 percent of their working time."

https://www.americanbar.org/groups/law_practice/publications/law_practice_magazine/2019/MJ2019/MJ19Keeler/

08/19/2019

"One problem was that partners were notoriously lax about turning in their timesheets, which meant clients weren't always getting billed. The slips were costing the firm $6 million a year."

Just one of the problems Zepto is solving ;)

At the modern law firm, not all partners are created equal, and data and billings rule. In the new paradigm, lawyers are expendable, and partners may jump to a competitor for the right amount of money, taking clients with them on the way out.