Clocktimizer offers award-winning big data business intelligence software for legal professionals. We provide the tools you need to futureproof your firm, get ahead of the competition and create a level of insight often missing from daily practice.
Our unique AI uses a law firm’s existing time tracking data and narratives to automatically generate insights with the right level of granularity. Comparing historically similar matters, we give law firms the information they need to make data-driven decisions about pricing and project scope.
Other features we currently support are a budget monitor, custom reports, fee comparisons, matter analysis and client insights for targeted business development.
Clocktimizer - Big Law Firms
Nowadays, clients are demanding increasing transparency and efficiency when working with firms, but ironically this is often time consuming and complex to achieve. As lawyers, we know that the worst thing is being unable to answer your clients questions immediately, so we’ve built a dashboard that gives you complete project oversight in one place. Better still, you can generate real time reports for your clients so you no longer have to justify all your hard work.
We know it’s difficult to get real value out of your data as lawyers. Clocktimizer uses natural language processing AI to automatically categorize your time cards on the basis of their narratives. Unlike using fixed action codes, Clocktimizer’s method is flexible and allows you to analyze both historical and current data, leaving you able to generate everything from historically accurate fee quotes to identifying your most profitable practice areas.
Matters mainly go over budget because the scope is ill-defined and poorly managed and there is not enough communication on progress. Clocktimizer supports lawyers during the lifecycle of a matter: With pricing (see below), monitoring of the budget, informing the client with fee updates and with analyses to continuously improve your service delivery.
More than 25% of the revenues of many big law firms comes from non-hourly billing. Research shows that where firms are proactive in offering fixed fees to their clients, these arrangements are more profitable than those requested by clients. With Clocktimizer you can compare similar matters, so that you can make data-driven decisions about your pricing and ensure that alternative fee arrangements work for you.
In a world of increasing competition, your data can provide the insights you need to get ahead. Clocktimizer’s firmwide analytics can help you with targeting tasks and activities that are not profitable or have a low recovery. Alternatively, identify key players in your own team using our team dynamic metrics to avoid losing them to other firms, or pick out underperforming practice areas for your biggest clients and cross sell more effectively. Your own data is your biggest asset.
Clocktimizer - Boutique Law Firms
Clocktimizer uses natural language processing combined with a proprietary algorithm to automatically categorize your time cards on the basis of their narratives. Unlike using fixed action codes, Clocktimizer’s method is flexible and allows you to analyze both historical and current data.
You have probably heard of value-based pricing. However, measure is still treasure. Even if you don’t believe in hourly billing, it helps to use your existing time tracking data and narratives to analyse how to set your fixed price matters. We help you compare similar matters, so that you can make data-driven decisions about your pricing. Fee quotes will become fun!
Once you have set a price, it is all about execution within budget. The more efficient you do this, the more profitable your business becomes. Clocktimizer helps you to make sure that you know exactly for which tasks you have budget left and which tasks may become problematic. Manage your matter while real-time, instead of correcting fees at billing.
You want to excel in building and maintaining your client relations. So, don’t let billing get in the way. Clocktimizer helps you to wow your clients during a matter with visually attractive reports. No more ugly surprises at billing!
Clocktimizer - In-house Legal
We remember the pain of keeping track of budgets. Balancing external spend with in-house and trying to track down all of those bills. Clocktimizer pulls all of your legal billing information into one place. Track your external legal spend and even compare pricing between your preferred firms to determine what works best for you. So you can go back to doing your job rather than worrying about the bills.
In-house legal teams often have to cover an incredibly broad range of work, either on their own or with help from external firms. But adding more people to the mix means it’s often difficult to work out who is doing what and for how much. With our detailed drill-downs, you get granular insights into the projects each staff member is working on, their progress in terms of budget, and analytics to identify efficiencies or prioritisations.
Balancing fee quotes from firms is difficult, comparing those to historic quotes and project outcomes? Even harder. We remember the pain of managing the fee quote process so we have made sure our technology can identify work streams within projects and their costs in order to benchmark your service providers and assess their ROI.
Yearly reviews always seem more impressive with those fantastic infographics and breakdowns to help you show off all your hard work. Business departments have long had innovative programs to help this along but general counsel have been stuck without a good solution. Clocktimizer produces a range of reports at the click of a button, and can even automate them to be sent direct to your phone.
3512 LB Utrecht
Opgericht in 2014
FTE: 6 tot 10
- Analytics & Business Intelligence (BI)