In the legal profession, a “by the numbers” approach won’t do much to help you win cases or clients. In the business of law, a “by the numbers” approach is a smart way to guide your firm to growth and profitability. The right approach to bring these two perspectives into alignment is LexisNexis® Redwood Analytics® Business Intelligence software.
Now your firm can avoid the numbers game and equip key managers and attorneys with the financial intelligence and insights that lead to sound business decisions by clarifying both business opportunities and potential risks. Across the board, Redwood Analytics Business Intelligence software builds understanding of the drivers behind better financial performance, and a detailed awareness of:
• Where we are. Instead of generic spreadsheets, partners and business leaders receive highlight reports, dashboard displays and alerts that pinpoint the key performance measurements that are most meaningful to their role. These leading-indicator insights are packaged in the formats each recipient prefers, with the contents and details tailored to each individual.
• How we got here. With information delivered right to their desktops, decision makers can quickly spot any areas of concern in profitability, billings, collections, costs, changes in client performance, or productivity and utilization. They can then easily drill down to discover the metrics and numbers behind the results.
• What to do now. Taking full advantage of the predictive analytical capabilities of the Business Intelligence software, leaders can assess alternative scenarios and calculate the likely financial results and outcomes of different approaches. These what-if explorations are a powerful decision-making tool that guides firm managers to take the appropriate actions that support the profitability and growth objectives of the firm.
With Redwood Analytics Business Intelligence software, every individual can play a more direct role in improving the firm’s business performance and uncovering hidden risks. The software has the flexibility to compile customized reports, segment details for the right audiences, and automate the distribution process for a standard cycle or when critical thresholds are reached. In other words, it makes certain the right information is shared in the right format with the right individuals at the right time.
Look at your numbers in an entirely different way and leverage the collective knowledge and talents of key personnel in your own firm with Redwood Analytics. Our Business Intelligence consultants can show you how.