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From client information to case documents to billing, law firms are constantly being inundated with significant amounts of data. Thankfully, continuing technological advances now allow law firms to be at the top of their game when it comes to analyzing that data to improve their own performance.
How can you assess your firm’s key performance indicators? Do attorneys at your firm have enough billable work to fill out their days? How much valuable time is being lost by attorneys performing non-billable work? Clio’s new report on becoming a data-driven law firm can help you figure that out. Now, you can learn how to suss out these metrics, and more:
- Your firm’s utilization rate, which measures how much of a lawyer’s day is spent doing billable work;
- Your firm’s realization rate, which measures the number of hours billed divided by the number of billable hours worked; and
- Your firm’s collection rate, which measures the actual collected revenue by the number of actual billed hours.
Fill out the form below to receive the free report from Clio detailing all you need to know to become a data-driven firm: