Release Notes November 2024

We’re excited to announce the latest release of bilabl on November 2024. Here are the key highlights:

1. Adding more data insights for financial tracking

We've added new data points to enhance financial tracking for each client and matter. These updates make it easier to monitor performance, evaluate client productivity, and identify areas for improvement.

• WIP (Work in Progress): this metric track unbilled hours, representing potential revenue for the firm. By monitoring WIP, law firms can manage cash flow, ensure timely billing, and gain insight into the value of ongoing work, ultimately optimizing profitability and financial planning.
• Write-Off Hours: this metric reveals the hours worked but not billed to clients, highlighting potential inefficiencies in team performance. By tracking write-off hours, firms can identify productivity or time management issues, optimize workflows, and improve overall profitability.
• Write-Off Amount: this metric reflects the revenue lost by excluding billable hours from the invoice. It provides valuable insights into billing practices, time and resource management, and client relationships, helping to optimize profitability and ensure accurate invoicing.

Please activate these features in your view settings as described below to access them.

2. Refined billing formula and improved visibility in the fee summary section

We have refined the billing formula for matters with fixed fee, capped and retainer fee billing types. When generating the billing for these matters, the system is automatically prioritize showing the actual fixed or capped amounts, enabling you to bill according to your preferred percentage and clearly showing the remaining amount available for future billing cycles.

Additionally, when generating billing, you can now quickly view the billing type by hovering over the matter icon. This update enhances efficiency by providing clear, real-time visibility, reducing the need for repeated checks, and ensuring smooth workflow.

Plus, the matter summary has been improved to provide a more comprehensive overview. It now includes additional data, such as billable hours multiplied by the hourly rate as well as the remaining amount, making it easier for users to generate the billing.

Moreover, from now on when generating the billing, you can hold over to the triangle icon of the professional fee where you can find more data such as billable hours of this matter, how many hours were included in this billing and hours many hours left as write off.

3. Adding time zone settings for your firm

For organizations with multiple offices across different regions or users working in various branches with different time zones, you can now centralize operations by applying a single custom time zone to all users. You can now set your tenant’s time zone independently, ensuring that system timestamps, logged time, and scheduled events automatically reflect your local time zone.
This update ensures time-based operations, like time records, reports, and billing, are aligned with your local time zone for improved accuracy and fewer discrepancies.
Other improvements

In addition to the major updates above, bilabl has implemented several improvements and bug fixes to enhance the overall customer experience:

• In the Time Tracking by User, Time Utilization, and Accounts Receivable Aging reports, you can now pin or unpin columns as needed. The first column is pinned to the left by default, making reports easier to view and navigate.
• The User Activity is now available, providing more information to track the changes and updates made to user profiles.
• Quickly add billing in matters, instead of generating the billing and then select the matter. Now, it allows you to select multiple matters in the matter section, even from different clients and then quickly generate the billing and generate billing entries with ease.
• Other bug fixes and enhancements: preventing the deletion of clients with associated matters, allow users to set matter’s category/practice area as mandatory, some improvements on reports, fixing the inability to select multiple tasks….

If you have any inquiries about our products or features, please do not hesitate to contact our support team at support@bilabl.io. Additionally, we are open to any feedback or suggestions that could further improve our product.

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