Are you thinking about adding or looking for a new updated business intelligence solution for your law firm? You absolutely should. BI software can completely revolutionize your business, but you obviously shouldn’t just go with the first legal technology to come across your path. There are so many to choose from and we understand! We are in an era of data explosion and rapid evolution within data processing technology. As a result, there is a lot of variation in what can be offered in the business intelligence industry, and you want to make sure you are getting the best fit and most cutting-edge technology for your law firm. Every law firm's culture is different, whether it comes to size of the firm, demographics of clients or project demands.
Don’t worry, we’re here to help you figure out what the key features to look for are and how they can benefit your business and increase profitability overall.
Business Intelligence Essentials for Law Firms
These are everchanging times of constant economic ups and downs, and the adoption of more hybrid and remote workplaces increases everyday. Many law firms are experiencing data overload and the importance of a single source of truth. Data can be incredibly valuable in managing and optimizing a business, but that data can also easily drown them or miss something significant. A good business intelligence platform not only increases your data access and accuracy, but manages and streamlines data to make it less overwhelming. The one thing you do not want is a BI solution which inundates you with more data than you can handle that is disorganized or inaccurate.
Let’s take a look at key features of an ideal business intelligence platform:
Eliminates Time-Consuming Tasks:
Technology can’t do everything for us, (we do still need lawyers!) but there are a lot of tedious, yet important, tasks that suck up a law practitioner's time. According to Venture Beat, “Artificial intelligence and automation can take over up to 23% of a lawyer’s everyday tasks.” This might be routine paperwork or scheduling, but these activities can take away from a lawyer’s time and energy to dedicate to important casework.
Ensures a Single Source of Truth:
Humans make mistakes and manual reporting leaves room for error or inaccuracies; an updated business intelligence software can often catch them before any consequences. Law firms are usually always looking for one source of truth which will lead to better business decisions, increased profitability and better client experiences. A top-performing business intelligence dashboard breaks down the barriers that separate data silos.
Easy to Use:
Law firms have enough on their plates without adding a clunky, confusing and overwhelming BI platform to the mix. It should make your day easier, not more difficult. Good legal technology will be straight-forward, accurate, real time, self-servicing, and easy-to-use with an appealing interface and data presented in a clear and useful manner. Not only should the back offices be able to use it, but also be available to the attorneys, as well as all timekeepers at the firm.
There is Calculated Growth:
Best of breed legal technology makes it easy to find, package and share firm intelligence for business development such as strategic planning, pricing, improving client development, DE&I and overall business growth and the ability to achieve peak performance. When a law firm operates at a high performance, they are able to keep track of multiple matters seamlessly and gain a competitive advantage.
Enables Remote Work:
One of the huge potential benefits of a BI platform is enabling law firm employees to work from anywhere anytime. This not only emphasizes the ongoing focus on mental health, but also streamlines data through one platform with instant and continuous updates that everyone can have access to. BigSquare is the only BI company that offers a Cloud-based solution. Law firms are quickly moving to the Cloud and there should be no difference when researching for a BI solution that will make sense long term.
Ensures Cyber Security:
One of the major concerns law firms often have with BI is about cyber security. Obviously, in the law industry, privacy and data security is of utmost importance. But the same technology that allows for remote work by storing data in the cloud, opens up the possibility of cyber attacks. However, a top-quality BI software will have the protective technology to keep your data safe, even while allowing the useful flexibility of accessing from the Cloud.
The benefits of a top-performing business intelligence solution for your law firm are essential factors to highly consider before investing. BigSquare, now a part of the Litera family, offers a wide array of products and services that will boost your firm intelligence to the highest level. Not only does BigSquare offer all of the most essential features for your business intelligence solution, but we also partner with each individual law firm to ensure that our platform will meet their specific needs and continue to grow the business year after year.
BigSquare, Now a Part of Litera, Has Everything You Need
Are you looking for the perfect cloud-based BI platform to take your business to the next level? BigSquare is currently the ONLY company that offers this. If you are interested in giving your employees more flexibility and supporting their mental health while maintaining maximum efficiency and security, contact us to find out how we can make that a reality for your firm.
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