Over 2 million hours are wasted each year manually assigning task or J-Codes in the UK alone. When billing at an average hourly rate of £300, the British legal industry is losing over £600 million each year. Worse still, the repetitive nature of the task often leads to errors or inaccurately assigned codes. For the past year, Clocktimizer has been working on a way of automating this task using machine learning.
Using machine learning to automatically assign codes
We believe the solution to this problem lies in our newest development – a machine learning engine we have named the Data Lab. By combining this engine with time card meta data, Clocktimizer can automatically assign task or J-Codes to timecards. Clocktimizer’s machine learning engine will generate a algorithm that will predict the correct code for new time cards. This ensures that the unique ways firms assign codes is reflected in the choices the algorithm makes.
Importantly, Clocktimizer will also ensure the codes assigned are more accurate. Lawyers are excellent at recording time. Particularly in the form of narratives. However, assigning codes is a repetitive task and is prone to error. The codes used are often vague, leading to inaccurate data. We believe that by automatically assigning codes, Clocktimizer can improve their accuracy. Law firms will have richer data to support their pricing, budgeting and innovation choices.
Become a test partner
Does this sound like something your firm would like to work with? Head to our campaign page for more information or schedule an online demo. Currently we are offering this capability to our cloud based customers. Eventually we will be rolling it out to on-premise firms.