Smarter Firms FAQs

19/10/2019

Frequently Asked Questions

There's a lot of unanswered questions regarding technology in the legal industry. Smarter Firms is here to guide you through a couple of frequently asked questions.

A BI (or business intelligence) tool is a software application that collects data from various internal and external sources. The BI tool then processes and represents data in a coherent form- such as a dashboard.

Smarter Firms can pull data from many sources- such as accounting applications, office management systems, and marketing analytics tools. Some sources include Clio, QuickBooks Online, and Google Analytics. 

Law firms tend to stick to traditional routines that are often costly and inefficient. With Smarter Firms, you are able to plug in our BI tool and instantly see data to help make cost-efficient decisions. 

Sure- but do you have the time? Smarter Firms allows you to access that data at the click of a button, instantly

A Key Performance Indicator (KPI) is a type of business measurement used to evaluate the current status and success of a business.

Different law firms might identify different KPI’s as most crucial to the measurement of the firm’s success and growth. However, some core law firm KPI’s might include accounts receivable, revenue, expenses, net income, open matters, new matters, closed matters, billed hours, utilization rate, net promoter score, and more. 

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