Meet Jane, a legal administrator at a medium sized law firm. Jane recently discovered that she could improve her firm’s revenue by 10%.
The best part? No software to learn, and it took her only 2 hours per week to deliver her firm’s partners the action-items that improved revenue by over $1.5 million.
How did she do it?
Jane simply used the custom reporting and expert guidance delivered by Bridgesphere.
Here are the three areas she focused on:
Finding “lost” revenues in a sea of billing data. Using Bridgesphere’s reporting & expert guidance, Jane realized there were billing inefficiencies that resulted in lost revenue. For some attorneys, this amounted to over $50,000 per year.
Improving the profitability of alternative fee arrangements. Jane’s firm also had challenges pricing and managing alternative fee arrangements. Bridgesphere took a lot of the guesswork out of AFA’s. Within six months, flat-fee revenue and profit were significantly ahead of last year.
Improving utilization & reducing write-downs. Jane found that additional improvement could be made when financial models were applied to the billing data of the firm’s lawyers and paralegals. An extra 10% in billing productivity could improve the revenue of each lawyer and paralegal up to $50,000 per year.
Jane used Bridgesphere.
- She didn’t need to learn new software.
- She didn’t have to learn a thing about financial modeling.
- She simply used Bridgesphere’s custom reports & expert guidance to provide her firm’s lawyers with a succinct set of action-items that improved revenues by $1.5 million.