Advocates of value-added billing have been loudly declaring, at least for the last several years, that time & billing is an application that is no longer needed. Despite all of these protestations, T&B continues to sell very well, and has even added a vendor or two over the past five years or so. That's pretty impressive performance for an application that's supposedly way past its prime.There are a number of reasons for T&B's ongoing popularity. One is that perhaps the pundits are wrong. While value-added billing may make a lot of sense, time-based billing is still the prevalent method.
Another reason for T&B's continued life, however, is that even when your firm has primarily flat-rate or value-added billing clients, it's still important for you to know how much time is being expended on different client tasks. This is the practice management aspect of T&B, rather than the cash generation and flow emphasis. Value-added billing is a great concept, but for any practice to remain profitable, it's important that management be able to easily determine that they are not spending an inordinate amount of staff resources to generate the firm's revenue.
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