Legal business intelligence has never been so easy

Today’s law firms want to use up-to-the-minute information to navigate the road ahead, rather than rely on the rearview mirror approach of reading stale reports. Moreover, firm managers prefer a graphical user interface of gauges and displays which monitor various aspects of operations to indicate firm performance. Such an interface has been coined a “dashboard” by business intelligence (BI) experts because the interface resembles a car’s instrument panel designed to operate and control the vehicle (i.e. or the firm) with a quick and easy to read layout. To satisfy this need, PerfectLaw® introduces BizRadar to manage BI dashboards and workbooks.

Dashboards and BI workbooks can play a role in business planning. Just as automobile drivers have replaced penciling in routes on a paper road map with entering directions into a GPS, legal professionals are replacing paper reports with real-time dashboards and workbooks that allow them to input goals and budgets. In fact, a BI dashboard with a direct connection to the firm database can display key performance indicators (KPIs) which measure billing, accounting and case management performance to evaluate if the firm is running smoothly or if there are outstanding issues requiring immediate attention.

Functions

• Create dynamic business plans that include goals, milestones, and budgets
• Monitor business activity as it compares to business plans
• Provide greater visibility via visual displays of live KPIs
• Design KPIs that best indicate how well the firm is running, with emphasis on progress towards high priority budgets or goals
• Customize job-oriented dashboards to optimize operations and help specific users make better decisions
• Define user alarms, or e-mails, for timely trouble alerts so issues can be addressed before they become problems
• Forecast future values and identify new trends
• Distribute and share dashboards among users over the firm’s network on a need-to-know basis
• Drill down dashboard interactively to mine the firm’s database for critical details

Benefits

• Interactively monitor, analyze and control your firm’s operations with greater insight than ever before
• Make better decisions and increase partner income with easy to understand KPIs, automatically delivered to the right person
• Timely detect and warn of impending problems
• Strengthen the firm’s analytical and decision-making skills
• Make quick, quantitative decisions and corrections based on live data
• Enhance productivity by gaining greater insight into how your firm works
• Save time by reducing the need to print and study reports
• Eliminate the need for special servers by using PerfectLaw® DMS to store and distribute dashboards and workbooks as documents

Business Intelligence KPI's	Production	Enterprise	Video
Work Units and Value (WIP, Receipts)
Billed, Relieved, Writedowns Units, Value
Receipt, Writeoff Value by Period
Aged WIP & AR by Period
Days to Bill and Settle
Number of Matters Opened
– New Clients, Existing Clients
Direct Costs
– Salaries
– Benefits
– Other Entity Expenses
Overhead
Profit
Internal Cost Rate
Net Income Ratio
– Fee Income Before Partner Distributions / Fee Income
Effective Rate