Law Firm Analytics Reports: Origination

Rocket Matter recently released an Advanced Analytics module with five reports to help law firms increase transparency, productivity, and profitability. We’ll explore how you can leverage each of these reports in your practice. Here’s a discussion of Origination Reports.

INSIGHT: I want to see the originator for all clients

Bringing on new clients and cases is imperative to the growth of any law firm. While smaller firms generally consider bringing on new clients a team effort, larger firms should maintain a system of recognition to make sure that employees are getting the credit they deserve. It’s not out of the question for partners to leave firms and take clients with them if they feel they are not being fairly recognized and compensated.

With Rocket Matter’s new Advanced Analytics, firms can use Origination Reports to see who is bringing in clients for the firm, what payments have been brought in by the client, and what portion of those payments have gone towards fees and costs.

How does it work?

If your firm offers compensation to anyone who originates new business, then you can benefit from using our Origination Report.

When you create a client contact within Rocket Matter, you have the opportunity to specify the originator for that client. The originator can be another Rocket Matter user or any contact in your records. When matters are created for the client, the originator is automatically assigned to that client’s matters.

Running an origination report will give you the opportunity to not only see who is bringing in clients, but how much those clients have paid to fees and what has been paid to costs. You can choose to view all originators/clients during a specific time frame or can search for specific originators.

The comprehensive tracking of originators can give a firm insight into which employees and/or clients are bringing in the most work. If done correctly and consistently, origination tracking can greatly aid compensation decision makers and help determine whether or not a lawyer becomes (and remains) an asset to the firm.

Are you ready to take your firm’s productivity to the next level?

All of the reports within Rocket Matter’s Advanced Analytics Module allow small to mid-sized firms to keep track of the overall economics of the firm and instantly identify issues. The additional insightful reports within this module include: Origination Report, Productivity per User, Productivity per Matter, and Collections Report, each of which, can be easily exported to Microsoft Excel.