Analysis and reporting are much more than nice-to-haves. In fact, they’re essential to the success of your business. Without them, it’s impossible to accurately judge how well you’re managing your caseload, as well as the vendors you’ve employed as part of your matter management process.
The benefits of analysis are manifold. First, proper analytic data gives you a tangible indication of your company’s current status, both in snapshot and detailed form. It eliminates the guesswork involved in seeing how your budget dollars are working with regard to matter management.
Analysis can also allow you to spot trends (both good and bad), and tweak your processes accordingly. Spotting and understanding trends, in turn, gives you additional information with which to craft effective strategies for the future. Imagine the possibilities for your business if you were able to make more proactive decisions about your approach to cases, rather than being forced to react on a case-by-case basis!
Finally, it goes without saying that, if you’re employing one or more vendors or law firms to manage your cases, you need to have a very good idea of what those firms are doing, and how well they’re doing it. Are they invoicing you properly? Are you staying within your allotted budget? Are invoices compliant? Accurate reporting is the only way to gain perspective – both quantitative and qualitative – on vendor efficiency, with regard both to each other and to your budget spend.
Learn more about how Acuity’s powerful data integration, analysis, and reporting tools can transform the way you look at e-billing and matter management.