The global legal services market has seen steady and consistent growth since 2015 and isn’t slowing down. In 2023, it grew to almost $797 billion U.S. — an increase of roughly $9.5 billion compared to the previous year. If you want to capitalize on this growth and increase your billable hours, you need a scalable tracking and reporting solution.
Enter TimeSolv and its robust dashboarding capabilities.
TimeSolv dashboards are an intuitive and user-friendly solution that allows you to consolidate your business data into a single platform, making it far easier to track billable time. Additionally, you can identify trends, proactively work to improve firm performance, and set the stage for business growth.
What are TimeSolv Dashboards?
TimeSolv dashboards provide an information-reporting and visualization capability within the TimeSolv legal time-tracking and billing platform. TimeSolv has three types of customizable dashboards:
- Staff Dashboards allow you to track the performance of your entire staff, view a breakdown of hours by employee and identify top performers. You can track metrics like collection rate, realization rate, the amount collected and more.
- Client Dashboards help you track active clients, new intakes, and ongoing matters. You can view a comprehensive breakdown of hours logged, fees accumulated, and how much you’ve billed each client.
- Financial Dashboards provide you with access to real-time financial data, including amounts collected, amounts billed, accounts receivable, trust deposits, and write-offs. You can even filter financials by matter, client, and timekeeper to get a more granular look at your firm’s health.
Benefits of TimeSolv Dashboards
TimeSolv dashboards are a comprehensive time-tracking and billing-reporting tool that gives you the insights you need to grow your firm. By leveraging TimeSolv dashboards, you can achieve many operational goals in one fell swoop.
Get Instant Insights Into Your Business Performance
Tracking billable and non-billable work is a great start. However, if you want to put these insights to use, the data must be both accessible and digestible. You simply don’t have time to hunt down dozens of logs and compile the information into usable data. With TimeSolv, you don’t have to.
TimeSolv’s dashboarding tools automatically compile your data into visualizations like charts and graphs. You can customize your dashboard to prioritize the metrics that are most relevant to you and see financial indicators like accounts receivable, unbilled time, billable hours, and more at a glance.
Make Smarter, Data-Driven Decisions
When you compile reports manually, you may be basing decisions on weeks or even months old data. By contrast, TimeSolv dashboards allow you to access up-to-the-minute financial information and make data-driven decisions that align with your long-term business goals.
TimeSolv is also an excellent time-saving tool, as it automatically builds reports using data you’re already tracking. You can collect, aggregate, and visualize your fiscal data, all within the convenient TimeSolv platform.
With insights from TimeSolv, you can:
- Invest your resources in more profitable projects
- Proactively identify sources of waste
- workflow bottlenecks
- Improve efficiency
- Free up your team to work on high-value projects
You can even use TimeSolv to track your progress over time and monitor progress on your goals.
Measure and Manage Risks and Opportunities
When you centralize your data using TimeSolv dashboards, you reduce the risk of overlooking key performance indicators. You can also uncover metrics that correlate with process inefficiencies and find ways to operate better.
By visualizing vital information, TimeSolv dashboards make it easy to interpret complex data and detect trends that could be hindering your success. You can identify potential threats to your business sooner and proactively work to mitigate their impacts on your profitability.
Last but certainly not least, TimeSolv allows you to compare actual performance against target thresholds or benchmarks. When you can pinpoint areas of under- or overperformance, you will better understand your firm’s strengths.
Ready to Maximize Practice Visibility? Get TimeSolv!
TimeSolv dashboards are the leading data visualization and financial reporting solution for law firms of all sizes. You can use this intuitive system to assess the health and performance of your legal practice.
Start your free trial today and zero in on your financial health with TimeSolv dashboards.
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