For the last week, Clocktimizer has been on tour in the US. On Tuesday and Wednesday we were at P3, a conference based in Chicago. As sponsors this year we were excited to release new budget features and share some delicious Dutch stroopwafels. Following on from P3, we headed to Boston and New York. We saw a lot of demos. We met a lot of people. The views were really excellent. So, here’s a quick update about what we got up to last week.
Our favourite demos at P3
With titles like ‘Whose fault is it’, we were clearly going to enjoy some great sessions at P3. Unsurprisingly, the ‘Whose fault’ session was highly entertaining, with some great arguments from both lawyers and general counsel. Casey Flaherty certainly won our award for most entertaining slides. We were also big fans of Keith Maziarek’s session, titled ‘measuring economic value delivered through legal services’. It was a highly informative way of looking at the different ways clients identify value in legal services. Keith also started with an analogy that involved him pouring martinis, which we highly approved of.
Peter Secor of Pepper Hamilton led an excellent session on Tuesday, titled ‘pricing transactional matters and task codes’. In it, Peter looked at why it is such a challenge to get lawyers to use task codes. He also warned attendees that budgets and AFA usage were on the rise. Lawyers need to have systems in place now, to help manage this rise in fixed fee work. Thankfully, Clocktimizer was on hand.
New budget features from Clocktimizer
As many may have seen, we gave a sneak preview of our new budget features at P3. The features will be available on the platform shortly, so we took this opportunity to show them to our demo audience. Because P3 is about pricing, project management and process improvement, we decided to look at how Clocktimizer manages the full matter lifecycle.
For those in charge of pricing, we demonstrated the ways Clocktimizer can use historical data to build an accurate fee quote. We then showed how this fee quote can be immediately downloaded as a budget and monitored in real time. Needless to say this certainly solved a lot of pain points currently felt by legal project managers. Finally we looked at the business intelligence insights Clocktimizer can offer those working on process improvement.
Clocktimizer Intriguing social mapping feature to better understand via time entry which lawyers collaborate, and which work alone, to assess client retention risk. Hoarding work may boost an individual partner’s metrics (and comp) but poses an organizational risk to the firm. Timothy Corcoran
Meeting lots of new faces
Unsurprisingly, we met a lot of fellow legal tech enthusiasts. We managed to grab a spot in the incredibly busy schedule of Ivy Grey to share a drink in Chicago. It was great to hear more about the legal tech scene in the US from her. Hopefully we can return the favour over here in the Netherlands soon. We also met some legal professionals working hard to bring the best legal tech has to offer in house. In spite of the ‘whose fault is it’ debate, it’s clear that at P3, everyone was working together to get the most out of legal tech.
Finally, a big congratulations to the organisers of P3. The Legal Marketing Association. The event was excellently organised and the sessions were engaging and useful. Having been to our fair share of conferences, that’s not something that can be said of many. We look forward to next year’s edition!