Where does the ROI of AI-assisted time tracking come from?
Return on investment is a common question that firms ask when looking at AI-assisted time tracking.
Will this tool really help us capture missed billables and boost our bottom line?
Most of the value sits in work that was done and never recorded. This is quite commonly recognised in most law firms.
From our feedback data, at least one missed billable activity a day, say 15 minutes is common. On the figures we publish that is about €20,000 a year per active user.
What our clients value is the reduced effort of describing the work for invoices. By generating time entries with AI, we can free up more than 15 minutes a day per active user. Part of which converts back into billable work, worth roughly €5,000 more.
Those are typical average figures per active user with an average hourly rate in the Nordics and the Baltics. What it comes to for your firm depends on your rates and how many people use it.
Message Heikki Ilvessalo for an ROI calculation tailored for you.
