Could your law firm use an easy, flexible dashboard reporting system to track performance of its attorneys' productivity? Find the hidden trends, compare milestone performance, and identify top performers.
Leading KPIs to track include number of matters opened, hours worked, number of average days billing in lockup, average fee per matter, and ratio of average billed to average worked rate. Staying on top of these can help identify issues ahead of time before they show up in the lagging key metrics such as fees billed in a month, hours billed, cash receipts, and revenue per lawyer.
InetSoft's lightweight dashboard application provides easy-to-use dashboard reporting design tools to create interactive monitoring and analytical dashboards that a non-technical partner can use to manage his or her team.
Another key area for law firms to manage proactively is the performance of their existing client base service. Key performance indicators in this area include the client retention rate, which is the is the ratio of number of clients billed in the last 12 months to the same clients that had been billed in the 12 months before that. Another is the dormant client percentage rate, which is the ratio of the number of clients that the firm has not handled a matter for in two of the past three years to the number of total clients.
A related area to focus on is attorney productivity. Metrics include Billable Hours per Full-Time Equivalent Timekeeper, which is is calculated by taking the gross number of billable hours worked by paralegals, associates and partners and dividing by the number of full-time equivalents in each category. The Ratio of Average Billed to Average Standard Rate, which is the ratio of the average billed hourly rate for a timekeeping category, which is calculated by dividing fees actually billed by the hours billed to the average standard hourly rate for the category of timekeeper.
Since 1996 InetSoft has been delivering easy, agile, and robust business intelligence software that makes it possible for organizations and solution providers of all sizes to deploy or embed full-featured business intelligence solutions. Application highlights include visually-compelling and interactive dashboards that ensure greater end-user adoption plus pixel-perfect report generation, scheduling, and bursting. InetSoft's patent pending Data Block technology enables productive reuse of queries and a unique capability for end-user defined data mashup. This capability combined with efficient information access enabled by InetSoft's visual analysis technologies allows maximum self-service that benefits the average business user, the IT administrator, and the developer. InetSoft solutions have been deployed at over 5,000 organizations worldwide, including 25% of Fortune 500 companies, spanning all types of industries.
InetSoft Technology Corp.
InetSoft Technology Corp.