Get the complete picture
As a Managing Partner, you benefit from many key performance indicators (KPIs) that help you measure, track, and manage your firm more effectively. Our extensive reports give you matter management or practice-related data at a macro and micro level.
Use insights from your analytics to drive real impact by understanding and analyzing KPIs like caseload by the attorney, stalled cases, matter opened and closed dates, overdue tasks, and much more, all in one place. Allowing you to analyze the performance of your firm, make informed decisions, and take necessary actions to continue to thrive.
CloudLex has role-specific dashboards and reports that let you effectively manage your firm and your cases. Your staff can utilize these features to identify critical client intake, matters, and tasks, allowing them to take action quickly.
“The CloudLex family has gone above and beyond in these unprecedented times to provide high quality uninterrupted service.”
The CloudLex family has gone above and beyond in these unprecedented times to provide high quality uninterrupted service that has been instrumental in serving our clients’ needs at a time when clients need our help the most. Their attention to detail and level of service are unmatched in the case management software industry.
Christopher D. Campione
Managing Partner | Campione Law, P.A.
Legal Data Analytics FAQs
How can reports and dashboards help me manage caseload?
Reports and dashboards provide critical information related to the operation of your practice and matter progress. They offer different views, with different metrics, which will give you different insights into your firm. For example, our case management software for personal injury can give you active matter count, the firm-wide count or the number of active matters in each phase of litigation for either, and so much more.
With merely the click of a button, our case management software allows you to view all cases in a specific stage, such as “Investigation” or “Discovery”, as well as individual sub-phases. Tracking the progress of your personal injury cases has never been easier.
As an added benefit, these handy timelines (along with our other legal case management software features) will enable you to identify bottlenecks and problem matters, significantly decreasing case processing time and enhancing your firm’s case management capabilities. With CloudLex, you get a more efficient firm and happier clients.
How to measure law firm performance
Law firm performance can be measured by tracking key performance indicators (KPIs). These key performance indicators measure a firm’s success versus a set of targets, objectives, or industry peers.
Primary KPIs can be financial, including net profit (or the bottom line, gross profit margin), or revenues minus certain expenses, which measures your firm’s overall profitability.
To measure law firm performance in terms of efficiency and profitability, here are 5 KPIs you should be looking at:
- New Matters Per Month
This one’s pretty straightforward: you can’t sustain if you don’t grow. That’s why most firms set specific quotas for new matters each month.
- Closed Matters Per Month
Tracking closed matters per month with a legal management system is important. It can help you determine the average matter processing time (from open to close) and how long it takes to close a matter (once the closing process has been started. This will help identify where you need more resources or support.
- Stalled Matters/Bucket Age
A Stalled Matters indicator helps you identify when a case has hit a wall (typically, no movement in 90 days). Whereas bucket age is very specific, it tells you exactly how long a case has been in a particular status. These reports help identify bottlenecks and routine problems, and also with the proper allocation of resources and support.
- Task Completion Rate/ Task Age
Task completion rate tells you the number of tasks completed out of the total tasks assigned in a given period, and task age reports the number of days it took to complete a particular task.
These two KPIs give you actionable insight into how you can improve as a firm and process cases faster using law firm task management software.
- Client Acquisition Cost/Conversion Rate
Client acquisition cost asks, “How much are we spending on sales and marketing to land a new client?” Whereas the conversion rate reports the number of leads converted into intake/matters out of the total number of leads. This can help identify the best ways to spend your marketing dollars and how many new, signed-up clients you can expect to get for those dollars.