Performance Analytics has developed a comprehensive performance management model for law firms. The system, called Partner Insight, has been designed to provide both partners and individual fee earners with the ability to access a highly visual, colour coded view of performance, delivered against clear business objectives, strategies and key performance indicators.
The Key Performance Indicators have been designed to meet the needs of a typical law firm and include a wide variety of complex measures including:
Financial - Profit Costs, Time Booked at Cost, Realisation, Lock Up, and Aged Debt;
Customers - Number of Matters from New and Existing Customers, Revenues from New and Existing Customers and Customer Loyalty;
Internal Process - Monthly Lists and Time Sheets.
The system is extremely flexible and allows a firm to adapt the model further in order to redefine or add supplementary measures to meet its exact requirements.
The system enables a firm, to have an automated and comprehensive view of all of their strategic measures. The colour coded, traffic light system highlights, very clearly and simply, where attention needs to be directed to ensure the continued success of both the individual fee earners and the firm as a whole.
Using the Partner Insight model, law firms can now implement a comprehensive performance management system in a matter of days / weeks.
“By using Partner Insight we have already identified improvements in time capture, WIP billing, realisation, cost control and growth in our client base, which can only lead to an increase in PEP” - David Redfern Managing Partner of Stanley Tee Solicitors.
To obtain a copy of the case study, click on the link below
Partner Insight Case Study
To obtain a copy of the Stanley Tee article, which first appeared in the April 2007 edition of Managing for Success - the magazine of the Law Society Law Management Section (www.lms.lawsociety.org.uk) - click on the link below.
Managing for Success Article
To obtain a copy of Rupert Kendrick’s article ‘IT revolution’, click on the link below. This article was published in Solicitors Journal Practice Supplement - Spring 2007 and is reproduced by kind permission (www.solicitorsjournal.co.uk.
IT Revolution
To obtain a copy of the review published in Legal Technology Insider – July 07 (page 4) - click on the link below.
Legal Technology Insider
Or if you would like someone to contact you in order to discuss this further, please click here.
“We have already identified improvements in time capture, WIP billing, realisation, cost control and growth in our client base, which can only lead to an increase in PEP”
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Providing consultants, services, assistance, training and the best of breed software from QPR and Applix / TM1 to develop analytical business solutions for performance management, strategy mapping / strategy maps, process mapping / process map (s), collaborative management, budgeting, forecasting and corporate planning. Operational systems for finance, retail, insurance, distribution, supply chain, leisure, manufacturing, risk management, construction, professional services, hospitality, legal, pharmaceutical and others markets. For more information click on the white papers. Solutions in Finance, Retail, Insurance, Distribution, Supply Chain, Leisure, Manufacturing, Risk; Construction, Professional Services, Hospitality, Legal, Training, Pharmaceutical and other vertical markets Balanced scorecard, balanced, strategy mapping, budgeting, QPR, Applix, TM1,
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