BUSINESS INTELLIGENCE - A technology driven process for analyzing data and presenting actionable information which helps executives, managers, and other corporate end users make informed business decisions.
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BUSINESS INTELLIGENCE

The term Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. The purpose of Business Intelligence is to support better business decision making. Essentially, Business Intelligence systems are data-driven Decision Support Systems (DSS). Business Intelligence is sometimes used interchangeably with dashboard, data visualization and executive information systems.

Business Intelligence systems provide historical, current, and predictive views of business operations, most often using data that has been gathered into a data warehouse or a data mart and occasionally working from operational data. Software elements support reporting, interactive “slice-and-dice” pivot-table analyses, visualization, and statistical data mining. In a law firm applications may tackle hours and revenue, collection cycle, leverage, utilization and even profit, and many other sources of business data for purposes that include business performance management. Information is often gathered about other companies in the same industry which is known as benchmarking.

20

DASHBOARDS OUT OF 
THE BOX

60+

CLIENTS

8

SMALLEST AMOUNT OF
TIMEKEEPERS

350+

LARGEST CLIENT
 TIMEKEEPERS

THE BIGfish DIFFERENCE

BIGfish BI was developed to provide high end BI capabilities to small and mid-sized firms without the cost and complexity normally associated with these technologies. BIGfish can be deployed in a fraction of the time required to install legacy law firm BI tools and at a greatly reduced cost. BIGfish provides access to firm data that enables managers to make informed business decisions to guide the firm towards growth and profitability.
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Once the domain of only the AMLAW 200, sophisticated Business Intelligence is now available to law firms of every size.

Lightning fast, users never have to wait for information.

Intuitive design, easy to learn.

Visual Analytics – Get to whats important faster.

Web Based – Monitor your firm from anywhere.

DASHBOARDS

Unlike many BI tools, BIGfish BI is a solution. We provide over 20 dashboards pre-configured for your firm with the default implementation. This means your firm can start benefiting from powerful analytics from day one. Be it top down management analysis or an individual attorneys book of business, BIGfish offers a complete set of fast, easy to understand dashboards.

BIGfish dashboards cover the spectrum of law firm metrics including effort, billings, collections, utilization, realization, profit, WIP, AR and matter inventory.   All dashboards support drill down and the ability to slice the data by standard dimensions including office, department, law type, client, matter, attorney, location, staff level, practice group etc  Our integrated security model ensures that users only see dashboards they have been granted permissions to.

SELF-SERVICE BI

Self-service business intelligence (SSBI) involves the business systems and data analytics that give business end-users access to an organization’s information without direct IT involvement. Self-service Business intelligence gives end-users the ability to do more with their data without having technical skills. These solutions are usually created to be flexible and easy-to-use so that end-users can analyze data, make decisions, plan and forecast on their own.

Currently organizations are starting to see that data and content should should be managed in an integrated enterprise approach. Enterprise information management brings Business Intelligence and Enterprise Content Management together. Currently organizations are moving towards Operational Business Intelligence which is currently under served and uncontested by vendors. Traditionally, Business Intelligence vendors are targeting only top the pyramid but now there is a paradigm shift moving toward taking Business Intelligence to the bottom of the pyramid with a focus of self-service business intelligence.

COMPENSATION ASSIST

BIGfish BI can greatly simplify the process of compensation by creating a single export of information from the accounting system in a format suitable for the introduction to the external data.

By way of example, imagine a firm who pays its partners quarterly distributing profit by a weighting of,
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1) billable hours worked
2) collections by originating attorney
3) collections by responsible attorney
4) collections by working attorney
5) AR adjustments by responsible attorney

Getting all of these metrics into a single report almost always requires the accounting manager to run 5 separate reports and manually key all of these data points into Excel. The potential for introducing errors is high and the ever-present possibility that during the final numbers a payment/invoice or allocation will be found to be in error which requires all reports to be rerun and numbers manually re-entered. BIGfish BI solves this by just running a report based upon date range and getting all of these columns as well as calculations on these columns at a click of a button. This module stores monthly buckets of activity for every attorney who touched a case in any way.

PROFIT ANALYSIS

For most small to mid-sized law firms, solving the Profit Analysis question is a seemingly impossible challenge. Firms who have already gone down this path, recognize the challenge is both in definition and execution. BIGfish BI offers a variety of standard approaches as well as some best practices guidelines to make true profit analysis a reality.

SIMPLE FIXED COST METHODOLOGY:

The easiest path to get started in profit analysis involves developing internal cost rates for timekeepers and applying the cost rates to work performed, billed or collected. The BIGfish admin site provides for the entry and maintenance of a standard cost rate and a loaded cost rate per timekeeper. Once entered, three separate profitability reports can be run against the firms existing data.
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 Profit on Time Worked
 Profit on Time Billed
 Profit on Time Collected
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Importantly, since this model establishes profit at the transaction level, profit can be rolled-up by the standard BIGfish grouping criteria including; Office, Department, Law Type, Atty, Client, Matter etc.

VARIABLE COST METHODOLOGY

To achieve more precise profit models, firms need to allow for attorney cost basis to change monthly. BIGfish provides all of the tools to establish what types of expense makes up an attorney’s costs basis, interfaces for either entering, importing from third party files, or sourcing this information from the GL, plus the ability to enter adjustments to the gross cost numbers monthly. By using a templated approach, BIGfish can dramatically reduce the time needed to create the monthly cost and cost rates for attorneys. The attorney profitability dashboard allows users to view profit across the firm over a period of time with the ability to drill down into an attorney to see both the revenue and cost numbers per month. Also, WIP write ups/downs and AR Adjustment numbers are pulled in to show an adjusted profit summary as well. In summary, BIGfish BI’s profit models can be rolled out in hours rather than weeks or months. Firms can begin profit analysis almost from day one of their BIGfish deployment.

SECURITY - ADMINISTRATION

BIGfish BI provides an administrative portal for the administration of users.  This security system allows for the creation of an unlimited number of user groups with security governing which dashboards and features are available to members of each group.

Firms can also define and maintain user definable fields at the client, matter or employee level.  These custom fields can be incorporated in custom dashboards as columns, groups or filter attributes.

Finally, this administrative site allows for the entry of KPI (goals) as various levels of the practice including firm, office, department, law type, attorney etc… These goals may include such items as WIP or AR levels, billable hours, billed hours or fees, collections or even rate information.   The custom KPI can be consumed in custom dashboards to compare actual data to goals to create variances

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