‘Better Mousetrap’ Tallies Billable Hours
Posted Aug 17, 2007 10:32 AM CST
By Martha Neil
A Canadian software company claims to have built a better mousetrap to help American lawyers and others keep track of their billable hours.
As the Montreal Gazette explains the concept, PensEra Knowledge Technologies has developed "a time-keeping system that lawyers can easily use to record their progress, either on their computer desk top, laptop, cellphone or handheld mobile computing device when or just after it has happened, rather than in a mad review of email messages or agenda date books in the last few days of the month."
And, when law firms use its TimeKM time-capture software system, the Montreal-based company claims, far more attorneys become actively involved in keeping contemporaneous billing records. That means they not only capture time that might otherwise be "lost" but add to the transparency--and validity--of the billing process.
"It is very similar to where document management was in the legal industry five years ago, when there was basically one company, PC Docs, and that was all replaced by a company called Interwoven Inc., and they have a better way of doing what was being done before," contends Peter Zver. He is PensEra's founder and head of product development.