Corporate legal and insurance departments struggle to determine how to benchmark their firms, how to encourage more efficiency / better outcomes, and how to choose the best firm or attorney to handle a specific matter in a specific region. Historically, these assessments were based on historical personal “relationships” with individuals, or collected subjective review comments on vague categories such as “responsiveness” or “efficiency.”
The Acuity Firm and Timekeeper Scorecards use historical data to provide a real-time assessment of the performance of your firms and their timekeepers, including objective data metrics comparing a specific firm or timekeeper to other firms/timekeepers working for the same client. The filterable Scorecards measure year-to-date KPIs such as the number of matters handled by the firm or attorney, total invoices pending and/or paid to date, and total write-downs.
The Firm Scorecard includes performance attributes such as:
- Average legal spend per matter
- Average number of distinct attorneys working on each matter
- Average cycle time (from assignment to matter resolution)
- Average blended hourly rate
- Average total matter costs (legal spend + other costs such as indemnity, etc)
The Timekeeper Scorecard includes additional metrics such as:
- Average hours per matter
- Percentage of line items adjusted
- Percentage of billing exceptions flagged
- Average hours billed per week across all matters
Join us at CLOC to hear more about our new scorecards on November 10 or reach out to learnmore@acuityelm for more info.