With all the Royal Commissions and market uncertainty, the Legal sector has been continually buffeted by change of late. As a result the old norms of managing client and case data is now being questioned. While many organisations are trialling new approaches, these new engagement models are turning the sector upside down, while clients now demand greater payment flexibility, as they struggle to meet the rising costs of engaging legal services.
All of this has increased the need for greater agility and accuracy in your organisation’s planning processes. The old days of running everything on spreadsheets are gone. With the new market uncertainty, your company is now judged on how rapidly you respond to new challenges and how quickly you can deliver your services. Having effective long range planning in place amid constant uncertainty could be the difference between making the correct investment decision or not, every time the market shifts.
Traditionally, this type of business planning has been a manual process using spreadsheets and a large degree of guesswork. However, this removes your ability to track actual performance against strategy.
What is PracticePlanner?
PMsquare Thailand has you covered, with our easy to use PracticePlanner solution. PracticePlanner is not a replacement of your firm’s Practice Management System. It is designed to help you get the most out of your existing investment by delivering excellent short-range forecasts, by enabling you to analyse billings, timesheets and WIP by engagement. PracticePlanner helps you close the loop by using historical data from your existing systems to inform the plan, and provide an integrated reporting frameword to monitor actual performance against both short-range forecasts and long-range plans.
The PracticePlanner is specifically designed to help legal legal organisations drive better Performance and Metrics by enabling:
Partner and Client Profitability
including a range of cost allocation methodology.
Revenue Planning
Set up effective utilisation and fee-earner assumptions
Cost Budget
Set cost targetes for shared services operations.
Strategic Initiatives
Add new practice areas and offices to your group.
Reporting
Quickly deliver operational, departmental and board reports
Cost Budget
Set cost targetes for shared services operations.
PMsquare here to help you be more competitive in this changing market by using your data to drive good business decisions for your legal services organisation. To learn more about how PracticePlanner can help you to achieve more with your data, schedule a call with one of our Experts.
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