firmTRAK

Key benefits for your firm

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  Productivity is On Record

  Law firm employees are operational assets. Practice area, attorney service, and client billing all can have an impact on firm productivity and profits. Key performance indicators (“KPIs”) and report creation tools enable controllers to capture attorney productivity and client billing rates on record. firmTRAK’s Visualize dashboard monitors KPIs such as: attorney or Staff time worked, billed time, customer billing, outstanding payments, and collected time. Our product offers more in the way of continuous account reporting than other similar competitor integrated software solutions.
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  Financial Planning and Control

  With firmTRAK Visualize, law firm controllers have the measured insights they need to make financial decisions. Identify new opportunities for business growth, while simultaneously cutting AR related costs, with the support of Visualize dashboard KPIs. We provide law firms with the analytic capabilities they require to maintain control over their accounts and increase cash flows (i.e., liquidity) for the purpose of reinvestment. Build a better financial model for your firm’s profitable future. Subscribe to firmTRAK Visualize and experience the benefits of continuous reporting of the accounting record.
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  Metric Reporting of AR Record

  Metric KPIs provide up-to-the-minute insight about factors contributing to the effectiveness of a law firm’s AR billing cycle. With firmTRAK Visualize, utilization rates are turned into realization rates. Graphical illustration of work-in-process (“WIP”) indicators show where there may be gaps in client payment for hours previously billed. Issues present within the accounting process itself can also be identified and corrected, such as credit sales conversion rates crucial to the turnover of operational cash flows, that might otherwise have negative effects on firm liquidity and profitability if left unchecked. We give law firms the data they need to estimate the opportunity costs of doing business upfront.