Business Intelligence for Law Firms

The legal industry and law firms are under a massive presure these days. The clients are demanding fixed price projects and the technology is getting more advanced through AI and Machine Learning functionality. It is therefore of great importance that every employee have insight into their own data and numbers so they can take action in a timely manner. The company PREACT has designed a business intelligence solution directly to law firms, and it is a standard solution that is 80% pre-build with best practices for the industry. They have managed to design and build a complete business intelligence for law firms with datawarehouse and dashboards, they even have a employee performance app where the employees can see their own performance, clients and matters. The solution is integrated to different ERP systems like Maconomy, Microsoft AX and Dynamics and event to Unit4 Business World. The BI solution is industry focused and the different dashboards are included with visualizations off the KPI´s of Law firms like WIP, ETC and customers have a overview over their capacity and ressources. The users can setup their own customized alerts on clients, overrun and outstanding invoices. The employee performance app is build with power BI and it is very user friendly. It only takes a few minutes for the user to get a very personlized insight into own numbers, and to take the right action upon the data and not based on stomich feeling. Not many BI solution provided have succeeded building a completet business intelligence solution with a industry focus like PREACT. Customers using the solution have created value because they immidiately can identify clients that are not proffitable and also it is easy to identify employees that are not utilized. Also it is easy to get insight around matters that have a overrun, in that way it gives the lawyer or client responsible the chance to discuss the overrun with clients beforehand, instead of waiting until the hours have been delivered, then it is offen dificult to get the accept from the client for the overrun. PREACT is a Copenhagen based company, but they deliver to customers world wide. Focus is off course top 250 law firms but they are also developing a 100% cloud based solution for smaller law firms with around 50 employees. The technology used is 100% based on microsoft Azure with power BI, and PREACT is also utilizing al the services that microsoft is providing for AI and machine learning. The company can be contacted through their website to setup a online meeting with demo.