Every law firm is trying to solve the same problems, like understanding profitability and staying on top of accounts receivable. At the same time, every law firm is a little bit different. Maybe you have an unusually intricate compensation structure, or maybe you’re an insurance defense firm with tight billing deadlines.
That’s why cookie-cutter business intelligence software doesn’t work for law firms. You need standard legal practice management basics—and the freedom to meet challenges your way. You also need the latitude to test out new ways to improve efficiency, cash flow, and profitability.
Orion’s Visual Analytics (OVA) module is your partner in problem-solving. It’s powerful right out of the box, but flexible enough to grow with you. Let’s dive into how it works.
OVA blends core analytics functionality with customization
Every OVA implementation is personalized. Some firms prefer to start with just the core features, including:
- 20+ pre-built visual analytics dashboards (static and interactive).
- Extensive library of standard law firm reports.
- Access embedded in your regular Orion interface (on prem or cloud).
You can also add customization right from the start, and anytime after that:
- Unlimited custom static/interactive dashboards.
- Unlimited custom reports, with the option to build them in-house.
- Automated report generation and distribution.
OVA is updated regularly with new features to keep your firm on the cutting edge.
OVA solves your toughest business intelligence problems
Implementing OVA begins with a strategy session. Below are some real-life (anonymized) examples of how firms use OVA.
Compensation chaos
Problem: Firm A’s compensation structure was so complicated that only the managing partner understood it. Compensation was also tied to progress toward firm goals, but partners had no way of knowing how well they were doing until the month was over. And the IT team had to maintain two separate databases to track it all.
Solution: Firm A implemented OVA with custom reports and dashboards:
- One streamlined compensation report. It replaced both databases.
- A written guide explaining the compensation structure, distributed with the report.
- A dashboard that showed attorneys’ progress so they could course-correct mid-month.
- An automated compensation report distributed directly to the payroll company.
The new approach eased tensions among the partners and allowed partners to take charge of their compensation. At the same time, it reduced the burden on the back office.
Too many reports
Problem: Every month, Firm B’s accounting staff generated 80 individualized reports, representing all 80 partners. Each report also had dozens of subreports. It took two full days of one person’s time to generate and distribute all the reports.
Solution: Firm B implemented OVA with custom reports and automation:
- Duplicated the report and its subreports in OVA.
- Automated individual report and subreport generation.
- Automatically emailed the correct report to each partner.
The accounting staff’s workload became more manageable, and the partners kept the same level of visibility into the firm’s finances.
Collection headaches
Problem: A subset of Firm C’s clients were consistently late with payments. When the firm sent reminder notices, these clients asked the accounting team to re-send each invoice for which a balance was due—often many invoices. Despite the firm’s best efforts to resolve the situation, this went on for months.
Solution: Firm C implemented OVA with custom reports and automation:
- A monthly e-statement for the client showing all balances owed.
- Automatically generated and attached: a ZIP file containing all the relevant invoices.
The drain on the accounting team’s time stopped, freeing them up for other work.
Profitability problems
Problem: Small and midsize firms consistently told Orion they struggled to calculate profitability on a per-lawyer basis. They found revenue easy to track, but costs difficult to calculate.
Solution: A profitability toolkit is now standard for OVA. It automatically calculates the cost of each lawyer based on paystubs and simple user-entered data.
Now firms of any size can calculate each lawyer’s profitability.
What problems is your law firm trying to solve?
We listen deeply to the business intelligence and practice management challenges you’re facing. In many cases, OVA will already have the visual analytics tools you need. If you’re facing a novel problem, we’ll roll up our sleeves and find a smart solution.
Ready to schedule your demo? Contact us.
Want to learn more about OVA? Get more information here.