Redwood Analytics® Planning
Address matter management head-on to achieve strategic advantage without sacrificing profitability.
Tackle client/matter management to gain advantage over your peers and win strategic clients. Develop, implement and manage successful, profitable AFAs that strengthen client relationships by delivering financial predictability and consistently strong legal results.
- Maximize profitability
- Manage arrangements
- Drive accountability
- Use historical data to determine impacts
- Eliminate the guesswork
- Know where you stand
- Review
Track back to budget from actuals to see whether your plans are tracking to budget or not. Eliminate waiting for post mortems.
- Incorporation of Phase & Task
Build up a matter plan by task, automatically rolling up to Phases. Use standard Phases & Tasks and mapping to pick a starting task, create multiple phases with separate tasks for each phase (with its own staffing and pricing), add tasks, and commit with Date Range/Gantt chart view. Review at the phase and task level.
- Generation of Margins
Perform profitability analysis in relative and absolute terms to fully understand the impact of your business decisions.
- Multi-level Planning
Plan at the client, matter and/or task levels.
- Impact Scenarios
Create various “what-if” scenarios around staffing and pricing to understand the financial impact, including alternate fee arrangements.
- Grouping
Aggregate plans to the matter level. Model the work to be part hourly, part fixed fee, and group the parts together to see the entire matter.
- Staffing
Benefit from staffing of actual timekeepers or “generic” timekeeper, instead pulling in average rates. Easily create templates using generic timekeepers.
- Maximize profitability
Develop budgets and plans for all types of engagements, including:traditional hourly arrangements, discounted fee structures , or any of a myriad of AFAs. Model different engagement structures in order to achieve efficient leverage while maximizing profitability.
- Manage arrangements
Track actual performance to plan and address deficiencies early on to ensure that the alternative fee arrangement is a success for both your firm and your clients.
- Drive accountability
Create greater accountability by showing actual performance versus plan at all levels (client, matter, phase, task, etc.).
- Use historic data to determine impacts
Get a line of sight to profitability, not just revenue, with automatic inclusion of current and historical data. Adjust the levers of pricing (fixed fee, blended rate, volume discounts) and staffing to determine impact on the bottom line.
- Eliminate the guesswork
Avoid the financial uncertainties of entering into alternative fee arrangements based on “gut feel” or “back of the envelope” and give your clients the cost certainty they want. Benefit from Redwood Analytics Planning, which could pay for itself with the right structuring of one alternate fee arrangement.
- Know where you stand
Use the only tool that allows for matter and client planning inclusive of metrics that helps your firm know where you stand in terms of running your business.