Top Benefits of Business Intelligence
- More rapid, accurate decision making on the part of firm or practice group management
- More accountability on the part of individual attorneys and staff for achieving personal, departmental and firm goals
- Better sensitivity to client needs
Why Traditional Approaches Haven’t Worked
Most law firms have invested heavily on financial reports, both in terms of outsourced development costs and internal resources but are the lawyers paying attention? Has the firm been able to focus lawyer attention amid all of their other responsibilities upon achieving desired financial results? Often lawyers are bombarded with volumes of paper reports and screen upon screen of on-line inquiries. This condition forces these busy professionals to wade through vast amounts of information to perform an analysis, hoping that they arrive at correct conclusions.
Complicating the analysis is the fact that the most lawyers do not have the proper business background to help them with their analysis making the exercise onerous, time-consuming and neffective. Making matters worse - most reports are issued weeks after the events have occured.
Personalized Dashboards Make the Difference
Baker Robbins & Company believes that dashboards offer a better way to communicate financial information. These dashboards can be constructed in a manner that simplifies the required analysis by presenting conclusions to the lawyers with color-coded alerts identifying areas where lawyers need to focus attention, drastically shortening analysis and speeding corrective actions.
Dashboarding tools have become cheaper and easier to use making it possible for the firm to quickly and cost effectively deliver information that will get the lawyers’ attention and focus their actions on the areas of most importance.
The tools also enable the firm to customize the communication by office or practice area fine-tuning the message and desired behavior. The solution can also be flexible enough to introduce new metrics as new business circumstances arise and as the business learns, retire metrics that are no longer needed.
A Reliable Partner
Baker Robbins & Company is a recognized leader in assisting law firms with deploying metric-based reporting solutions aligned with your strategic business goals. For more information, please contact Don Gibson at 713.840.0510 or dgibson@brco.com.