Leaders asked Elliott Davis: “Can you help us improve visibility into financial performance to support decision-making?”
Context
Personal injury and accident law firm
Goal is to be the number one firm in the state of South Carolina
Firm was leveraging an external firm to manually prepare weekly management reports
Utilizing MS Excel and PowerPoint to share critical information
Needed further visibility into metrics from closed cases, including duration and revenue to enable improved forecasting
Our Approach
Used Enterprise Resource Planning (ERP) data to create monthly financial presentations
Defined averages of three legal categories: Civil, Defense, and Associated
Calculated data sets to forecast revenue based on pipeline (predictive analytics)
Developed detailed dashboards with trend analysis by type and attorney
Additionally developed automated MS Power BI management dashboard to improve operations
Client Impact
Improve insight into staff (attorney and manager) performance
Gained ability to forecast based on pipeline
Enhanced insight into short-term financial performance
Ability to complete trend analysis of revenue by type of case and attorney
Visibility into case key performance indicators (KPIs) for duration and revenue
Eliminated expense to external firm for weekly reporting
We Can Help
For more information on how Elliott Davis can assist you and your business, contact a member of our team.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
