BI KPIs for lawyers
Additional feature for useful key measures in the law firm field
How this feature creates benefits
Vertec expands its BI for Key Performance Indicators module with a BI-Config set designed specifically for law firms. It enables a transparent evaluation of hours, productivity, chargeability, turnover and hourly rates per employee. This gives law firms an in-depth overview of economic key performance measures at all times – internally and externally.
- Overview of internal and external hours and productivity per employee
- Analysis of chargeability, billed services and realized revenue or depreciation per resource
- Presentation of billable and actually billed hourly rates across all cases
How it works
Establishment and scope
By importing the supplied config set “BI for Attorney KPIs,” a subfolder “Attorney KPIs” is created in the root folder “Controlling and BI”. The prerequisite is that the BI module is licensed in Vertec. In addition, a special user group “Controlling and BI folder access” is created; only members of this group have access to the BI views.
Content of BI views
The feature creates predefined BI views, organized by employees. The main evaluations are divided into two parts:
Part 1: Client Time vs. Firm Time and Productivity
- Display of hours spent on cases in hours – separated by external / internal and productive / unproductive
- Optionally, only the hours charged can be displayed (“Hours charged hours productively,” “Hours charged hours productively”)
- Presentation of productivity: ratio of hours on productive cases to total expenditure
Part 2: Accountability, hourly rate, turnover and depreciation
- Offset: percentage ratio between internal and external offset hours on productive cases
- Determination and display of the billable and actually billed hourly rate per employee for all cases
- Presentation of revenue generated and any depreciation
Technical processes and maintenance
BI data is recalculated either automatically via scheduled night tasks or manually when up-to-current measures are needed immediately, ensuring that BI views are always up to date.
Benefits for law firms
This BI extension provides law firms with a tool for transparent and differentiated measurement of economic services, enabling them to manage resources and costs in a resource- and cost-conscious manner, uncover inefficiencies and make economic decisions based on data. In addition, the overview of chargeable services and actual income facilitates fee and utilization planning as well as controlling at partner or employee level.
Knowledge Base Articles
Prerequisites
Modules “Services & CRM”, “Business Intelligence”
Related features
Frequently asked questions
Can all my follow-ups quickly and easily be displayed?
In Vertec, you can create follow-ups for yourself or other employees. All follow-ups are included in the “Sales” folder and are clearly displayed as a list. You can apply different filters there. If necessary, you can automatically set up follow-ups so that they are created directly when an offer is created.
What ERP features does Vertec offer?
From service and expense recording to post-calculation, costing and controlling: With Vertec you are optimally positioned as a project- or mandate-oriented service company. With the Business Intelligence module, you can even visualize data directly in the Vertec interface.
A complete overview can be found in the overview of features.
Can I also use my mobile device for service entry?
Yes, you can use Vertec conveniently on Android or iOS. With the Phone App, you can enter services, expenses, absences and activities.
How can Vertec be connected to a document management system?
Vertec has an interface to Microsoft SharePoint Online (Microsoft 365). The Vertec sales partner Lean Business AG distributes an M-Files Connector for Vertec. Customer-specific extensions also exist for the DMS iManage, for example.
How can I test Vertec without obligation?
You may test Vertec for 30 days free of charge and without obligation in your personal test environment.
Start your free trial now.
Third-party money management
Third-party money management in Vertec helps you manage third-party funds securely, transparently and in compliance with the rules. With the feature, you create clear responsibilities, keep an eye on open balances and can use debt funds to pay invoices in a controlled manner.
