Time is Money

Accounting Technology,  August, 2007  by Antoinette Alexander

• E-mail
• Print
• Link

Before switching to LexisNexis' Time Matters six years ago, CPA firm Fenstermacher & Co. was manually tracking its time and billing, which not only proved to be time consuming but likely resulted in unaccounted for revenue and time spent-or wasted-on clients."I would say that [switching to Time Matters] had a substantial impact on revenue and profits," says W. Chad Fenstermacher, CPA, a partner at the Kennett Square, Pa.-based firm. "The benefits were realized in a short period of time and have continued in each subsequent year."

While Fenstermacher's firm realized years ago the need for a time and billing application, many firms are stuck in the dark ages. "The big challenge still remains that a large number of firms still see [time and billing software] as a necessary evil as opposed to being a key application that is central to everything they do," says Matt Jagst, product ...