ADERANT Introduces Innovative Found Time Application

Global News

17
Aug
2010

Automatically reconstructs missed time entries to increase billable hours and boost firm revenue

ADERANT, a global provider of business, financial, and information management software for law and professional services firms, today announced the introduction of its newest ADERANT Expert module, Found Time.

Found Time assists timekeepers by automatically reconstructing their day, minimizing lost or unaccounted for time, increasing overall firm revenues. The system tracks the details of the timekeeper's interaction with key business systems—BlackBerry, Microsoft Exchange, Microsoft Office, phone systems, document management systems, and more – and lists these interactions, or activities, chronologically for easy review and conversion into time entries.

Timekeepers are able to reconcile their daily activities against time already entered into the practice management system to verify that all billable activity has been accounted for, and to identify and process billable time that may otherwise have gone unrecorded, ultimately leading to improved profitability.

Timekeepers can view a single day or multiple days and sort entries by type of activity such as duration, date, client, matter, and more, to speed the review of potential time entries. Specific document names or IDs, phone numbers, and email addresses can be linked to clients or matters and then automatically associated in the future for maximum efficiency. Irrelevant items can be blocked to eliminate them from future tracking. Users can simply double-click an activity to bring up the time card for quick conversion to billable hours, or drag and drop the activity into the Time Entry list to automatically create the entry. The integration with ADERANT Expert enables the immediate submission, review, and reconciliation of new time entries and gives timekeepers real-time access to key statistics such as daily billable and non-billable totals.

"Lost or unbilled time is a significant issue, especially as many firms are under pressure to maximize billable hours to meet profit targets," said Bruce Stirling, Chief Financial Officer at Maples and Calder. "ADERANT's Found Time application has the potential to quickly capture more time and immediately increase revenue and profits."

"Now more than ever firms need to maximize their billing potential. By minimizing lost and unaccounted time, our clients can realize substantially increased revenue and profitability," said Michael Kohlsdorf, President and Chief Executive Officer for ADERANT. "With one click, timekeepers see a list of unaccounted time and can quickly turn those gaps into billable hours. Recording just a few more minutes of time per day for each timekeeper can result in significant increases in revenues for the firm."

The product will be demonstrated at ILTA 2010 in Las Vegas August 22-26 and will be generally available in September 2010 as an integrated component of ADERANT Expert.