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Continuing the Discussion on Accurate Recording of Time in Both Alternative Fee Arrangements or Traditional Hourly Billing

                          Continuing our series on Alternative Fee Arrangements, Todd Gerstein recently posted an interview of Ed Poll and me  concerning the relevance of time keeping in the world of Alternative Fee Arrangements.  Todd’s company has an interesting product, called Time Capture, which is worth taking a serious look at, not just for Alternative Fee Arrangements, but for all timekeeping functions  since the product  allows for more accurate and timely recording of time and helps eliminate “slippage,” given the tendency of so many lawyers to reconstruct their time days and weeks after the time has been already been spent and the frailties of memory cause too many of us to forget what particular services were previously rendered and the time actually spent.

             Regardless of whether your time keeping needs relate to AFA’s or traditional hourly fee arrangements, Todd’s product is worth taking a hard look at.  

             As I previously mentioned time keeping as an activity in and of itself, will be an essential part of effective law firm management, regardless of the nature and terms of your engagement with a client.

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