NEW YORK--(BUSINESS WIRE)--Litify, the end-to-end legal operating platform for law firms and legal departments, today announced the company has launched its next generation Time & Billing solution, enabling law firms to increase time capture and bill realization and improve profitability at both ends of the billing process.
“Timekeeping and billing needs for law firms have significantly evolved in recent years as client work has become more complex – but legal technology hasn’t kept up with that progression. At Litify, our approach is to break legal siloes and give law firms and legal departments tools that meet their needs for today as well as tomorrow,” said Ari Treuhaft, COO at Litify. “Our time and billing solution gives lawyers unprecedented automation capabilities and visibility to improve realization rates and more efficiently manage matters and workloads.”
In addition to Litify’s existing reporting capabilities and data-driven dashboards, timekeeping and billing features — including the ability to track time from within Litify matter plans or an Outlook inbox — ensure all tasks are tracked consistently. With timekeeping and billing centralized into the Litify platform, law firms can also now track and report time entries or invoices by matter or team and easily group and export time entries, invoices, and billing data in real-time. Additional key features of the solution include:
- Automated billing rules ensure your time entries always comply with billing guidelines, so there’s nothing for bill reviewers to write down
- Matter budgets keep users on track by automatically displaying billable time and billable amounts against your budget for individual matters.
- Mass billing allows users to generate as many pre-bills as you need with just a few clicks.
- Mobile time capture offers lawyers and timekeepers an easy interface for tracking time and billing on the go.
Litify’s end-to-end operating platform enables firms to handle the entire matter lifecycle in one place. Following the release of this time and billing functionality, that lifecycle is now extended from inception to invoice, meaning staff no longer need to constantly switch between systems or manually enter the same timekeeping and billing data in different places. The Litify Time & Billing release also furthers the company’s mission to enable better business outcomes for law firms and legal teams — and better legal outcomes for clients — through one, comprehensive legal operating platform.
“Lawyers are keenly aware that enhancing law firm profitability is an important element of their roles, but they often need help making that happen,” said Rhonda Compher, Senior Director, Legal Accounting at Litify. “Our Time & Billing solution enables lawyers and legal practitioners to efficiently log time and get paid for that time, as well as better track their bills, budgets, and realization rates — all key components to increasing profitability. What makes our Litify Time & Billing solution unique is our unified approach and end-to-end platform, which allows lawyers to seamlessly manage each matter.”
Litify will also further extend its Time & Billing solution with a new bill routing product later this year. This product will allow firms to send invoices to various billing portals from within the Litify platform, removing the time-consuming process of logging into various portals to submit invoices to different clients.
About Litify
Litify is the end-to-end legal operating platform that breaks down business silos to power better process, collaboration, insight, and performance. Litify is the only platform that offers tailored solutions for law firms, in-house legal teams, government agencies, and nonprofits, connecting the entire legal ecosystem to provide better business outcomes for legal teams and better legal outcomes for their clients. Built on Salesforce, Litify streamlines and automates matter and task management, document generation, timekeeping, billing, and client communications, while providing data-driven insights that allow law firms and legal teams to scale and improve their financial performance.
As a proud member of Pledge 1%, Litify donates 1% of their time, money, and resources to charitable causes every year through a charitable arm Litify.org. This year, Litify was named a "soonicorn" by Tracxn Emerging Startups. To learn more about Litify, or request a personalized demo, visit www.litify.com.
