Stanley Tee - Performance Analytics
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Stanley Tee
Delivering Partner Insight
Performance Analytics has developed a comprehensive performance management system for Stanley Tee -
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 to 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.