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 software for legal firms 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.
"Using Style Scope from InetSoft gave us the ability to provide a graphical representation of the key data to top management right 'out-of-the-box' and move from static tables of numbers to charts and graphics that are much easier to understand."
- Sergio R.
"I spent months looking for the best dashboard/reporting app to suit my business. I literally tried and tested every application out there and I have to say that the Style Intelligence App is by far the best. It is simple to use and it is absolutely brilliant if you are needing dashboards on custom objects." - Jacki A.
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InetSoft Technology Corp.
InetSoft Technology Corp.