BigHand is pleased to release its latest client case study from leading US firm, Stoel Rives, who has gained real-time financial insight through BigHand’s Business Intelligence tool.
Stoel Rives wanted to provide its fee earners with a visual and flexible financial reporting platform to provide key financial metrics relevant to each role, that would drive business decision making.
As Cecy Graf, Chief Financial Officer, Stoel Rives, comments: “Providing client value is the external driver we are always striving towards, but without the internal KPIs to measure ourselves and ensure that we’re making the most effective use of our time and resources, it’s very difficult to quantify success – and hence a challenge to relay that to our clients.”
The firm chose BigHand Business Intelligence (previously BigHand Quantum) to help it achieve this real-time insight. An advanced financial BI solution, BigHand Business Intelligence provides law firms with role-based reporting that delivers the right financial data to the right person in intuitive dashboards, replacing manual reporting with real-time data visibility from firm level to individual clients and matters.
Graf explains: “This isn’t about doing things differently; it’s about making informed decisions on how we’re pricing and staffing our matters. It’s also about continuous learning. If there’s something that has been successful, can we replicate that? If something has been less than successful, what can we learn from it and adapt to create success in the future?”
“The more that we can do to help clients when they themselves are under huge cost pressure, is really important. We have been able to provide more for less, while still being a successful firm – and being able to attract talent to provide that service. And you can’t attract talent without being profitable. It’s a balance between client value and profitability and BigHand has the tools that allow the firm to achieve that.”
For the full case study copy, visit our website here: https://www.bighand.com/en-gb/resources/case-studies/stoel-rives-driving-a-culture-of-financial-productivity-and-high-performance-with-bighand-business-intelligence/