Financial Matter Management

Clients continue to demand reduced costs, accurate matter budgets, non-hourly pricing, and efficient legal project management. Many law firms struggle to meet these demands, resulting in lower profitability, decreased customer experience, and inability to retain and win new business.

Inability to deliver predictable matter plans & fees

Difficulties with proactively monitoring budget to actuals in real time

Struggle to send accurate and timely reports for clients and internal stakeholders

Increasing Client Demands

Many law firms use spreadsheets for financial matter management, but as matters and requirements become more complex, spreadsheets quickly become an inefficient and unworkable solution. Law firms need solutions which rapidly deliver actionable data decreasing the burden on firm resources.

Firms need a flexible financial matter management solution for every situation

One Solution to Empower Teams to Transform Client Experience

Win More Business

To retain and win more business, firms need to be able to deliver matter plans that demonstrate an understanding of each client’s unique situation. Lawyers frequently scope matters based on their own experience, usually with a revenue-based mindset. This approach rejects data-driven decision making at the expense of firm profitability and retaining and winning more business.

Leverage historical data to accurately develop new opportunity pricing & budgeting
Ensure matter profitability by accounting for rate changes & discounts
Create flexible matter plans to meet any scenario

Keep Matters on Time & Budget

Lawyers need to deliver matters on time & budget to keep their clients satisfied. They need to work with legal project management teams to monitor matter progress against budget. Because of the high workload, lawyers find it increasingly difficult to stay updated on their matters.

Monitor budget to actuals and other important KPIs
Customize dashboards for internal and client monitoring
Get actionable alerts to manage escalation and track resources

Increase Client Value

Law firms need to deliver informative reports to keep clients and internal stakeholders updated on matters. Clients get frustrated with the time it takes to generate reports, which are often outdated by the time they are delivered.

Generate and deliver reports in a timely manner
Customize reports based on client or internal requirements
Present information visually or through data views

Gain Actionable Insights for Better Decisions

To win new business, manage current matters effectively, and remain profitable, law firms need to leverage their data into actionable insights. Using these insights, firms can prioritize profitability over revenue generation.

Understand firm performance at all levels
Improve profitability with actionable intelligence
Develop multiple profit and cost models