Timekeeper Costing
Determine which segments of your firm are most profitable and which need attention. Elite Timekeeper Costing gives firms a set of integrated reporting tools that provide powerful profitability analysis and measurement capabilities, beginning with revenue capacity all the way through to profit.
- Facilitate multiple levels of profitability analysis, including multiple cost rates per timekeeper; support for direct, indirect and alternative cost structures; budgets for worked, billed and collected figures by timekeeper; and multiple rate structures for analysis purposes
- Analyze billing rates, productivity, cost of services rendered and operational expenses
- Create metrics and set goals for improved performance with a set of easily understandable reports and analyses
Turn data into valuable information that enables strategic planning and decision making to improve long-term growth.
- Increase visibility into profitability metrics at the firm, office, practice group, client, matter, timekeeper, customizable matter and market segment levels
- Measure profitability by departmental level, timekeeper, time period and matter type against allocable expenses for a given period
- Compute expenses based either on budgeted or actual costs
- Assess profitability at the level of each matter and timekeeper using timekeeper rates-per-hour
- Analyze profitability measurements on a worked, billed or collected basis
- Calculate expenses depending on the type of expense and automatically allocate it to individual timekeepers with a discrete formula
- Determine a net contribution-to-profit calculation for specific levels of the firm with the Standard Profitability Report
- Store important profit calculation data for future reporting requirements through Elite’s built-in Data Warehousing functions
Contact your Elite account representative by completing the Information Request Form or by calling 323-642-5200.