Financial Management Solution for law

On the Right Side of Performance

The legal industry has changed with globalization of firms and alternative practices which have moved away from traditional billing models. The competition is fierce.

CCH Tagetik gives law firms the ability to plan responsively and identify underlying performance trends. With automated performance management you can create more agile budgets, plans and reports and turn business challenges into opportunities.

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Benefits

Single Version of the Truth

Automatically update plans, forecasts and reports with real-time data

Unify Plans and Budgets

Unify strategic, firm and project level plans and budgets in a single application

Model Drivers and Scenarios

Model drivers and scenarios like client name, position, headcount, hours worked, partner fees

Understand True Costs

Allocate direct and indirect costs and play out their impact on the P&L and Balance Sheet

Self-Service Analysis

Visualize performance metrics, complete reports and calculate figures for on-the-fly analysis

Drive Profitability

Understand which activities are driving profitability and allocate employees and resources accordingly

CCH TAGETIK’S UNIFIED PERFORMANCE MANAGEMENT SOLUTION FOR THE LEGAL INDUSTRY DELIVERS

Matter, Employee and HR Planning

Allocate resource related expenses to a practice group. Track, plan and analyze the expenses and resources dedicated to cases. Assess hours budgeted, revenue realization, rate, profits and matter structure in order to determine the best course of action.

Profitability Analysis

Granular-level profitability analysis and reporting makes it easy to discover which customers, accounts or portfolios are meeting performance expectations and which are not. Play scenarios to maximize customer profitability and make better, more informed, data-based decisions.

Reporting and Analysis

Real-time interactive dashboards and drag and drop technology makes it easy to generate cash flow reports, add metrics into reporting dashboard, isolate budget variances and visualize monthly trends. Create custom reports, dashboards, visualizations and ad hoc analytics without depending on IT.

Cash Flow Planning

See the cash in/cash out impact of budget line items and hours billed. Create a cash flow statement at the click of a button with data that automatically populates.

Seamless Close-to-Disclosure

Our Fast Close and automatic data validation, CCH Tagetik provides reduces the cycle time for consolidation to disclosure. Intercompany cockpit, automatic journals, workflow, surrounded by audit trail and user level security provide a controlled, secure environment for all contributors.

Scenario Analysis

Model alternative billing rates and payment models on the P&L and balance sheet to determine the best scenario. Pre-seed data without altering the source according to fees or hours worked and then see the impacts on the P&L, balance sheet or cash flow statement. With what-if scenario analysis you can see how your assumptions affect the revenue plan.