What is a Law Firm Dashboard?

Data analysis is extremely important for your practice management, as legal firms today are becoming more and more data driven, utilising information such as Key Performance Indicatiors (KPI’s) to assist them in making informed decisions. Dashboard reporting tools for a law firm assist by proving real time data visualizations to help key members of staff interpret information more efficiently and effectively.

A law firm KPI dashboard would essentially work by extracting information from software systems, such as a case management system, for example, Proclaim, into an interactive dashboard system. This can be done by developing and utilising a custom API, or through use of tools that already exist, such as a CSV file.

Taking control of your law firm business intelligence through KPI tracking can help you reach your long-term goals by staying on top of performance, improving efficiency, and identifying areas that require improvement.

Legal Practice Support can help law firms to manage their data and track KPIs by producing bespoke KPI dashboards.

What can a Law Firm KPI Dashboard Show?

A number of law firm KPIs can be visualised using a dashboard, as long as you have the data, it can be extracted, and data visualisations can be produced and shown on a dashboard.

• Staff performance: Knowing and understanding which fee earners and solicitors are helping to improve or reduce your profits can be very valuable for your firm. KPI’s such as the number of billable hours completed can assist you in understanding which members of staff are your top performing members.
• Marketing performance: A law firm KPI dashboard can help management to swiftly review which marketing strategies work best for their company, and which don’t. A dashboard provides the ability to analyse website traffic, e-mail marketing campaign success, conversion rates and much more. Furthermore, marketing budgets and spends can be analysed , such as the cost of marketing per number of new clients
• Client satisfaction: Knowing where your firm can improve in terms of overall client satisfaction can be vital for the success and growth of your practice. Client retention rates, client referrals and satisfaction scores can be visualised and reviewed using a law firm dashboard.
• Finances: Profitability is paramount to your legal firm success. An insight into your business finances can help you to understand where money is being wasted, and where it is best spent. It can also provide you with easy-to-understand data on your realization rate, monthly revenue billed, firm debts, anticipated yearly costs, and so much more.

The Benefits of a Law Firm Dashboard

Making use of dashboard software can have endless benefits for your legal firm. The main benefits are listed below:

• Complete visibility into your company – All of the important information about your business can be visually measured, interpreted and analysed using a simple dashboard tool. A dashboard reporting system can help management to understand what is working and what isn’t within their business.
• Improved results – Having the ability to measure significant data provides business owners with the ability to identify strengths and weaknesses. This, in turn, will help them to make better decisions to improve upon those results.
• Improved efficiency – All data that you would usually record by manually typing into an excel report or spreadsheet can be automatically extracted from a data source and shown visually on a dashboard. The dashboard report can be updated as often as required to ensure live data is shown.
• Increased staff productivity – As a dashboard can be programmed to measure performance of fee earners using a numeric metric, top performing fee earners, as well as those who are not meeting their targets can easily be identified. Staff performance indicators may encourage staff to become more productive.
• Increased profitability – The ability to visulaise areas of business weaknesses allows management to focus on these areas and to improve upon the same. It may also identify areas where funds are being essentially wasted, so decisions can be made on which areas should not be funded to increase sales and profits.

How Can Legal Practice Support Assist?

Legal Practice Support are experts in legal software and can use your data points to create interactive law firm dashboards. We can retrieve data from your Proclaim or other case management system to help you understand your data better.

Our development team can be contacted via e-mail at enquiries@legalpracticesupport.co.uk, or get in touch with us via Live Chat or the contact form, below.