Cool new tools help law firms grow revenues and become more efficient, illuminating where they perform well and where they can improve.
November 18, 2015 – Boca Raton, FL. Rocket Matter, a leading cloud-based legal billing and practice management platform provider, today announces the expansion of its software with innovative functionality: Advanced Analytics. This new package of reports addresses a challenge faced by the company’s law firms: being a client advocate and a great business operator at the same time.
Billing management is a major problem for law firms and is only getting more difficult. A recent Georgetown Law study estimated that law firms collect only 71 percent of the work they perform. Rocket Matter Advanced Analytics helps law firms overcome this issue by helping them understand the efficiency of their billing process and which attorneys, matters and clients are most lucrative.
“Our law firm clients are all experts in the practice of law and are successful professionals faithfully servicing their clients,” says Larry Port, CEO of Rocket Matter. “Their challenge is how can they be an advocate and a great business operator at the same time. With this new Advanced Analytics feature, these two endeavors no longer have to be mutually exclusive.”
Advanced Analytics gives law firms of all sizes the tools that BigLaw employs to gain deep, strategic insights into their practice. Rocket Matter has thousands of advanced, operational-minded attorneys on its system, some of whom helped fine tune these reports and are already enjoying their benefits.
Rocket Matter Advanced Analytics includes the following benefits:
Origination: Easily see who is originating new business for the firm, and run reports on how much has been collected from those clients.
Matter Budgets: Set matter budgets to keep limits on billed time.
Productivity per User: Set target hours for performance of time tracked per user. Break down how much time is spent hourly or unbilled. Quickly see if associates and staff are meeting their goals.
Productivity per Matter: Understand which of your cases are absorbing the majority of your time.
Collections Report: Show which clients are paying the most (or the least!) of their billed invoices. Take into account write-offs and unpaid billable activity.
About Rocket Matter
Headquartered in Boca Raton, Florida, Rocket Matter, LLC, is a leading cloud-based legal billing and practice management software platform provider. Introduced in 2008 and trusted by thousands of law firms across the county, this system streamlines firm operations and increases productivity in various practice areas. Rocket Matter has a user friendly interface which includes a dashboard that immediately provides a firm with access to their contacts, calendar events, tasks, matters, billing and documents all in one location.
For more information about Rocket Matter, LLC, including learning about features, pricing and how to schedule a demo, visit www.rocketmatter.com or call 877-785-8981 to speak to a sales representative.