Driving Firm Wide Performance
Corporate Insight has developed a comprehensive performance management model for law firms. The system, called Partner Insight, has been designed to provide both partners and individual fee earners with the ability to access a highly visual, colour coded view of performance, delivered against clear business objectives, strategies and key performance indicators.
The Key Performance Indicators have been designed to meet the needs of a typical law firm and include a wide variety of complex measures including:
Financial – Profit Costs, Time Booked at Cost, Realisation, Lock Up, and Aged Debt.
Customers – Number of Matters from New and Existing Customers, Revenues from New and Existing Customers and Customer Loyalty.
Internal Process – Monthly Lists and Time Sheets.
The system is extremely flexible and allows a firm to adapt the model further in order to redefine or add supplementary measures to meet its exact requirements.
The system enables a firm, to have an automated and comprehensive view across all 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.
Using Partner Insight, firms can now implement a comprehensive performance management system in a matters days/weeks.
“By using Partner Insight 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 of Stanley Tee Solicitors.
To download the Partner Insight case study, please visit our papers / fact sheets download page.