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Performance Analytics has developed a comprehensive performance management system for Stanley Tee - a regional law firm based in Hertfordshire. The system 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 performance management system is designed to drive Stanley Tee’s five year plan, the objective of which is to build the Firm’s reputation as the most customer focussed provider of quality legal and financial services within its chosen geographic area. Using the Firm’s strategic plan as the foundation for the model, the Key Performance Indicators have been specifically designed to meet Stanley Tee’s exact needs and include complex financial measures such as Realisation, Lock Up, and Aged Debt, as well as client based measures such as the number of Matters from New and Existing Customers, Revenues from New and Existing Customers and Customer Loyalty / Satisfaction, through to internal process based measures such as Monthly Lists and Time Sheets. The system has been described by the Partnership Secretary, responsible for IT as a ‘killer application’ and one which “provides the ability to automate management objective steps in achieving the progression of the Strategic Business Plan”. The system has provided Stanley Tee, with an automated and comprehensive view on every one 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. “The reaction to the system has been impressive. We now have a clear view throughout the organisation of what we are trying to achieve, but more importantly how we are going achieve it.” “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. To obtain a copy of the case study, click on the link below 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. 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. To obtain a copy of the review published in Legal Technology Insider – July 07 (page 4) - click on the link below. Or if you would like someone to contact you in order to discuss this further, please click here. |
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“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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Performance Analytics Limited 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, Strategy Mapping, Strategy Mapping White Papers, Strategy Map Training, Balanced Scorecard for Insurance, Finance, implementing Strategy Maps, Scorecard Training, Retail, Distribution, Supply Chain, Leisure, Manufacturing, Risk, Construction, Scorecard Professional Services, Hospitality, Financial, Legal, Training, Pharmaceutical.
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