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.
The feature BI KPIs for lawyers explained in our video
1:34 Min
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.
Is Vertec a software for lawyers?
Yes, Vertec is a law firm software that is specifically designed to run your law firm economically successful. Vertec is particularly suitable for modern law firms from 20 employees.
Vertec is available in On-Premises operation or runs in the Cloud Suite.
The scope of features ranges from collision checking to mandate management and deadline monitoring to individual invoicing processes, debt management and profit distribution.
In short, all typical processes that occur in a law firm on a daily basis are mapped.
As the ideal foundation for successful law firm management, Vertec helps you increase your productivity by providing you with just the tool you need to efficiently organize your law firm, digitize workflows and ultimately ensure smooth case and mandate management.
Vertec adapts to your processes – not the other way around.
What are the differences between a software for law firms and law firm management?
A software for law firms is a specialized software for lawyers that optimizes the everyday work of the legal professionals. For example, it continuously maps processes and thus creates transparency in your daily business. It focuses primarily on mandate-related and billing-relevant tasks.
Typical features include:
- File and Mandate Management
- Collision checks
- KYC
- Time tracking and recording
- Deadline monitoring
- Fee billing (e.g. via RVG in Germany)
- Debt management
- Document management
- Invoicing and controlling
Law firm management, on the other hand, describes the holistic organization and management of a law firm – in terms of legal, business administration and staff. A modern law firm software is part of efficient law firm management and contributes to smooth work.
The areas of law firm management also include:
- Organization of workflows and processes within the law firm
- Planning of staff on cases and mandates
- Controlling and analyzing relevant KPIs (such as turnover/billables, capacity utilization, profitability)
- Client retention
- Strategy and law firm business development
Law firm management is therefore to be considered in a more comprehensive way and goes beyond the purely legal features of a law firm software. Law firm management is the strategic and organizational approach that sees the law firm as a business enterprise that needs to be run economically successfully on the long term. Law firm software, however, is much more the operative tool for your daily work.
