We have recently joined the Legal Support Network in order to ensure that we keep up to date with all the happenings in the sector. If you work at a law firm in any capacity other than a lawyer they are a one stop for information and networking.
There are a number of unique challenges associated with management information and business intelligence in the legal sector. Financial reporting from complex practice management systems such as Elite and Aderant is in itself a challenge, but with the additional burden of increased sales/marketing focus, customer profitability and global practice group and sector views, there is a need to engage with specialists both in the BI and legal space.
Managing Partner, Chris Kwouk says “As many as half the top 20 law firms have invested significantly in reporting across the firm to differentiate themselves and get an edge in a competitive market. I believe it is only a matter of time before the rest take a leap of faith.”
Increasingly, firms are also looking for a more instant view of what is going on and with this in mind we partnered with time capture experts who have developed a bespoke BI offering for tablet & desktop. Read more about our partnership and what our first joint client Simmons & Simmons had to say about it in our press release.
Gathering information requirements and an aligned strategy from partners across the network globally and by practice requires a uniquely collaborative approach and strong expertise. Engagements would typically begin with an information strategy review or perhaps a review of an existing data warehouse or reporting system. Hot topics where reporting and business intelligence is key include:
- Partner performance
- Pricing strategy
- Sector & Work type cross-sell (in light of mergers)
- Client level planning & forecasting
- WIP management
- Bespoke client reporting