In our last blog, we looked at the ‘magic minute’ and discussed how an inefficient IT system can impact productivity. By looking at how fee earners spend their time and how many billable minutes and hours are lost per year due to IT issues or inefficiencies – and how much this lost time is costing an organisation – it was clear to see that even the smallest slowdown can have a big impact on a company’s profitability.
In the next two blogs, we will take a look at two applications that will save a significant amount of your organisation’s fee earners’ time by dealing with time-consuming non-billable administration. A survey by the International Data Corporation and McKinsey Global Institute found that, in the law sector, around 40% of a fee earner’s time can be spent on administrative tasks.
Regain 25-35% of admin time
There is a new online tool that will free up around 25-35% of the time fee earners spend on administrative tasks, allowing them to concentrate on billable work or improving client relationships. This could significantly increase your company’s billable output, without the need to take on extra staff.
We are currently introducing clients to a useful new cloud application that allows all the people working on a project to access, comment and collaborate on each document simultaneously. This greatly reduces the number of emails that need to be sent and ends the need to create multiple copies of a document or pull many different comments together into one document.
ndThread™ is a quick, secure, easy and time-saving device that could halve the amount of time fee earners need to spend on admin. Primarily aimed at the legal and accountancy sectors, this collaborative software enables users to work together on documents in one secure cloud-based location accessible from any device anywhere.
Use our Magic Minute Tool to see how much time and money this could save your company overall.
In our next blog, we will look at a second application that automatically files your emails, another administrative task that currently takes up a huge amount of fee earner time.