Maximize Profit with Laurel: Turning Time into a Strategic Business Asset

In our journey as a company with a mission to return time, we've learned a lot — most importantly is to justify the business change cost of critical software. For that reason, we focus on delivering immediate value with Laurel by turning time into a strategic asset for your firm to support timekeepers in billing more time in less time, while also building up the foundation of operational data to prepare for the future.

Getting Laurel up and running quickly allows us to focus our attention on three Laurel Profit Levers that drive bottom line:

1. Billable Hours Submitted: Your most direct path to ROI. Laurel automates the capture of every billable moment, making your time work for you.

2. Granularity of Bills: More than just bill defense—each detailed entry enriches your data pool, enabling stronger, actionable insights. Laurel assists in both the creation and completion of these granular entries.

3. Velocity of Time Entries: Close the gap between work completion and billing. Laurel prepares entries almost in real-time, speeding up your revenue cycle for better recovery.

Our Head of Billing and Work Data Analysis, Mitch Katzer, has reviewed dozens of firm's billing data and "found that firms measuring and acting on these levers show the most promise for defending existing profitability and growing it moving forward, even in an uncertain economic environment." Our first understanding of that reality was when Laurel was able to offset the losses of a firm during the pandemic despite being deployed to less than half of the available timekeepers at the time.

When we partner with a new customer, our goal is to have Laurel implemented and deployed widely as quickly as possible to maximise the value available because time, like most valuable things, compounds. Here's an anonymized report Mitch developed for a customer earlier this year:

While the focus is rightfully on ensuring that Laurel is securing the business of the firm, data collected today becomes a critical investment into your future operational strategy and capability. We don't think of Laurel as a plugin option or replacement for your "time module" — rather, we look at it and our partnership as a strategic asset designed to advance profitability and sustained growth.

If you are thinking about revenue, time, or data — please contact me or one of our Time Consultants (sales) to learn how we can increase your revenue today.