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Legal BI Series Part 3: Empower Your Law Firm With Data

Posted by Carly Wilson on Thu, May 24, 2018

Legal BI Series Part 3: Empower Your Law Firm With Data

by Carly Wilson / May 24, 2018

We are back again with the final post in our 3 part law firm BI series. If you missed Part One: 3 Things Law Firms Learned from Putting a Legal BI Tool to Work or Part Two: How To Transform Your Data Into Actionable Insight make sure to take a quick look!

At this point, we are all aware of digital transformation, the process of using technology to evolve, and how it's revolutionizing they way law firms do business. The list of applications and software available is endless, it's finding what works best with your culture that truly empowers your entire firm. "These legal technologies want to give law firms and lawyers new ways to serve and provide services to their clients, something that has hardly changed for the last few decades." Hogan Injury's blog post shared great insight on the top benefits of legal technology. Find out what they rated the top 5 benefits of legal technology.

One main pillar of this transformation starts with empowering the entire firm. If we empower all members through a high-performing culture enabling access to key data and analytics, we can accelerate delivery, improve quality, and drive user adoption and satisfaction.

We have found that tailoring the business intelligence dashboard to the individual user is one of the most powerful methods of empowering the firm. While the largest percentage of a firm is usually attorneys who just need a look at their book of business, there is absolutely a need for administration to have different views based on their role at the firm. For example, practice groups leaders must have the ability to view all data in their practice group, while managing partners can view their office data, and CFO's want the entire firms data. That goes without mentioning marketing, IT, and finance who will all need different views. So what does it really take for a legal BI software to be successful? Individual dashboards for different roles at the firm. Most importantly, a dashboard with a high user adoption rate. Our clients' partner adoption rate is the highest in the legal industry, 92%. Want to find out the secret to reaching that rate at your firm? This article will spill all the secrets.

business intelligence for law firmsWe often hear that the most valuable resource within any company is the people. Certainly, any business has a lot of money tied up in many different assets, but the people are more important than any of those other resources. It's the people who ultimately make the decisions that make the firm successful. The key to making the right decisions lies in guaranteeing that everyone at your firm has quick and easy access to accurate information. This is where a successful business intelligence solution for your law firm can help empower them. Give them access to the right information, and they’ll be better equipped to make the right decisions. 

There’s considerable value in empowering all members of your firm to leverage a business intelligence solution on their own—in other words, providing them with a self-service BI application. This not only gives users greater access to and control over critical firm data, but it also frees the IT and finance staff from reporting tasks so they can make better use of their time. And saving time in turn adds value, which every firm and successful business should strive for. Making smart decisions requires more than information—it requires intelligence. Legal business intelligence solutions add intellectual power to all members of your firm and truly empowers them to make the best possible decisions to drive your firm forward.

 

BigSquare is the leading provider of Business Intelligence for law firms and professional service organizations.  We focus exclusively on law firm reporting, law firm BI, law firm profitability and law firm analytics.

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Tags: Business Intelligence Legal BI Law Firm Law Firm Technology

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