Whether you bill based on time, a fixed fee, or contingency, knowing the profitability of matters is an important law firm metric to track.
Smokeball's automatic time tracking and activity reporting helps you understand where you are and where you are not making money.
Similar to other reporting in Firm Insights, only the admin user(s) will have access to these features within Smokeball.
Matter Insights is a great way to see individual matter profitability and breakdown by staff.
Matter Insights Overview
In a Matter, select the Matter Insights tab.
- Matter Insights will give you a detailed breakdown of staff and estimated profitability.
- Estimated profitability is calculated by taking time spent in Activity Intelligence, the estimated annual cost of your users, and default hourly rates.
Did You Know
Profitability by Matter and Matter Type are reports available in Firm Insights to give you a higher-level view of all your Matters or Matter Types.
Note: Information generated by a Matter Insight is based off the entire history of the matter. If you need to restrict information for a specific timeframe, you should run a billing report.