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 below.
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.
“Elliott Davis" is the brand name under which Elliott Davis, LLC (doing business in North Carolina and D.C. as Elliott Davis, PLLC) and Elliott Davis Advisory, LLC and its subsidiary entities provide professional services. Elliott Davis, LLC and Elliott Davis Advisory, LLC and its subsidiary entities practice as an alternative practice structure in accordance with the AICPA Code of Professional Conduct and applicable law, regulations and professional standards. Elliott Davis, LLC is a licensed independent CPA firm that provides attest services to its customers. Elliott Davis Advisory, LLC and its subsidiary entities provide tax and business consulting services to their customers. Elliott Davis Advisory, LLC and its subsidiary entities are not licensed CPA firms. The entities falling under the Elliott Davis brand are each individual firms that are separate legal and independently owned entities and are not responsible or liable for the services and/or products provided by any other entity providing services and/or products under the Elliott Davis brand. Our use of the terms “our firm” and “we” and “us” and terms of similar import, denote the alternative practice structure conducted by Elliott Davis, LLC and Elliott Davis Advisory, LLC.
