Business Intelligence
Redwood Business Intelligence (BI) legal software supports better decision making. Gathers accounting and other data and efficiently converts it to meaningful, clear information. Plus the business intelligence software and tools can be configured to meet the unique business needs of individual law firms.
Planning Application
The new Redwood Analytics Planning Application from LexisNexis is one of the first products in the legal industry that can connect day-to-day matter management with increasing client demands for alternative billing arrangements. The Web-based Planning Application allows you to explore many pricing scenarios. You don't have to be a pricing expert. Just select a model and use the links to pull in staffing and pricing data - and discern the ultimate impact on profitability.
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Profitability
The Redwood Profitability module is the most advanced solution in the legal industry. The module provides a valuation of every billable hour of the firm, whether at a matter, client, or lawyer level. The profitability solution focuses on key business drivers, and enables a firm to quickly ascertain the effect that utilization, realization, leverage, and cost allocations have on the firms overall profitability and performance.
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Billing and Collections
The Redwood Billing & Collections module revolutionizes the way firms track attorney work effort, client billings, and daily and total inventory balances. The platform allows firms to identify collections opportunities earlier; thereby collecting more cents on the dollar. While most firms analyze inventory based on standard aging hurdles, Redwood identifies additional collection opportunities based on deviations from historic client behavior patterns.
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Business Development
The Redwood Business Development module was developed specifically for marketing professionals. It brings quantitative insight to a process that has often been only intuitive, allowing for a more scientific approach to marketing initiatives, client cultivation and retention efforts. The Business Development content allows firms to easily analyze and focus their marketing initiatives toward client cultivation and retention.
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Dashboard Results
The Redwood Dashboard Results application gives lawyers access to the relevant information necessary to help them make better and more insightfully informed decisions about the firm´s performance. A lawyer can view information from the perspective of multiple roles and time horizons and the results are represented in the context of the firm's business goals.
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Diversity
The Redwood Diversity module gives firm management the ability to evaluate the diversity experience and composition of its firm. Users can quickly identify how clients and matters are staffed, track diversity recruitment efforts over time, and prioritize areas to focus diversity efforts.
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