Measuring the productivity and profitability of your timekeepers is rarely straightforward. There is, of course, the hourly rate and total billable hours for any given matter, but that fails to look at all the different variables: differing rates by matter or client and time spent on the matter that can’t be billed to the client (or is eventually written off).
In understanding a firm’s profitability, and the contributions of attorneys, determining the effective rate of each timekeeper is critical. CARET Legal’s Effective Rates Report enables firm managers to make sense of this information. The report showcases a list of all users along with hours worked, fees collected and the corresponding effective rate for each. This data can easily be filtered by a wide range of criteria, such as Date Range, Practice Area, Matter or even broken down by Responsible Attorney, Originating Attorney or Billable Attorney.
To see CARET Legal’s Effective Rates Report, alongside other productivity reports, in action, schedule a demo today.