Law Firm Performance Metrics - Thomson Reuters

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Law Firm Performance Metricswithin the ProLaw XII Reporting FrameworkHILDEBRANDTBAKER ROBBINSPEER MONITORLegal Industry PerformanceMeasures for Managing PerformanceIt is without question that the legal industry and the economyoverall has experienced one of the most traumatic economicevents in years, perhaps made all the more stressful following aperiod of lengthy prosperity for law firms, as illustrated below inrevenue growth for the industry compared to inflation.These pressures are creating real change in the industry, and drivingthe need for improvement in the management of law firms, includingthe better use of traditional metrics used in law firm managementand decision‐making, with additional consideration for new metricsthat may be required in the coming years to respond to an emergingnew operating environment. And while it will likely take some timefor new metrics to be adopted, there is quite a bit of thinking going onnow about new metrics required for law firms over the next fewyears. Changes will drive new ways of doing things and will result inthe use of new metrics within more sophisticated performancemanagement systems.PERCENTAGE CHANGE INLEGAL MARKET REVENUES vs. INFLATION (1999-2008)Legal Market RevenuesInflation rate1210Suggested Metric Framework86The chart below sets out seven different management categories for lawfirms, each focusing on performance areas for law firms, listing metrics incommon use today, and offering a list of potential new metrics for useover time. Note that some of these new metrics may be unfamiliar tomany readers, but they all represent potential measurement tools thathave been proposed by various observers in the legal These volatile conditions and the reactions of clients and law firms alikemay be creating an environment of real positive change – with the hopeof a better climate for client service and perhaps more satisfied lawyersin the profession.A more recent view of profitability performance from the HildebrandtBaker Robbins (HBR) Peer Monitor 1 economic database reveals thatlaw firms across the industry have been experiencing profitabilitypressure for some time, and are now searching for ways to becomemore efficient to respond to many pricing and competitive stressesthat may have become the “new normal” for the industry.PEER MONITOR ECONOMIC INDEX (PMI)ManagementCategoryToday’s Key MetricsPossible Future MetricsFirmPerformanceProfits per Equity PartnerProfits per PartnerRevenue per it per EmployeeExtended LeverageReturn on Capital/Equity (accrual basis)Risk‐Adjusted PerformanceProfit per Share (in excess of partner“salaries”)Value of Income StreamExpenseManagementExpense per LawyerStaffing RatiosFunctional Expenses per LawyerEfficiency IndexReturn on AssetsEmployees per 1 MillionCompensation per 1 MillionPracticePerformanceFees and GrowthRealizationUtilizationLeverageMatter ProfitabilityMatter Contribution to Profit/MarginPractice Contribution to ProfitProfit per Practice MemberProfit per EmployeeMarket ShareExtended LeverageProfit Contribution by Client DecilePartnerPerformanceOrganizationsWorking Attorney FeesRealizationBillable HoursLeverageProfit per Share of Practice ManagedTotal Profit of Work Originated or ManagedUnit Cost of Work Originated or ManagedClient Satisfaction RatingEmployee Satisfaction RatingCross‐Selling or ent Turnover RateClient Diversification IndexFee GrowthRealizationOriginationsBrand StrengthWallet Share for Target ClientsGrowth in Share for Target Clients8075Credit Q2Q3Q4Q12008Q2Q3Q4Q12009Q2Q3Q4Q1Q22010And in spite of significant cost cutting which improved margins for many firmsshortly after the start of the economic crisis (as marked by Lehman Brothersbankruptcy), the Peer Monitor Economic Index (PMI) economic indicator for itsmost recent quarters has been reporting flat performance for the past year.This reveals the presence of industry stagnation, due to the lack of revenuegrowth resulting from a dearth of billable hour growth and rate increases.1HBR Peer Monitor is a benchmarking service where participants provideelectronic monthly updates, enabling a near up‐to‐the‐moment view on thelegal industry by major law firm financial performance measures.Balance Sheet Capital per Partnerand RiskDebt per PartnerDebt/Equity RatiosDebt/Net Fixed Asset RatioValue Index/Firm ValuationReturn on CapitalRisk IndexManagementandLeadershipMarket Share GrowthLeadership IndexClient Satisfaction IndexReturn on Human CapitalEmployee Satisfaction IndexManagement Value Index (value/cost)PPEP GrowthFee/Revenue GrowthTurnoverFirm Rankings1

Our experience shows that some of these innovative metrics are alreadyhaving a material impact on improving performance in a number of firms. Itis important to emphasize, however, that measuring the health andeffectiveness of a law firm requires the use of several differentmeasurement tools, including both financial and non‐financial performanceassessments. In our view, some of the serious misuses of metrics in the pastfew years have been the overreliance on profits per equity partner as thedefining index of a firm’s value and quality. Going forward, more flexible andcomprehensive tools will be required to measure the ability of firms todeliver the kind and quality of legal services that clients will demand.ProLaw XII within the Metric FrameworkProLaw XII reporting offers a firm the capability to turn data into knowledgefor law firm performance management. The new reporting features withinProLaw XII provide key financial and operational metrics necessary tomonitor firm performance – many of which can be self‐defined by the firm.ProLaw XII also offers a suite of reports for general performance suchas realization, billing analysis summary, fee analysis performance togoal, and other reports included in the system’s firm analysis reportbundle. These reports can assist in providing key components forpredicting future results against established firm goals – WIP/ARanalysis, average days to payment, professional budget, and theaforementioned profit indicators report. The table below summarizesthe application’s capabilities for the firm performance metric:Management Category: Firm PerformanceCurrent KeyMetric(s)ProLaw XIIReportMeets MetricNeeds?Profits perEquity Partner,Profits perPartners, RevenuePer Lawyer,ProfitabilityIndicatorsFrom FirmAnalysis ReportBundle – ProfitIndicatorsMeets – fromProfit Indicatorsand ReportBuilder useLeverageAcrobat PDF, CSV, and TIFF, easy customization of ProLaw XII standard reports, flexibility to create new reports based on available ProLaw XIIdata sets,functionality of drag and drop fields,capability of adding custom fields to data sets,availability of multiple parameters and multiple level sorts,handy document maps outlining a report’s headings and allowingfor quick movement through a report without losing place, availability of charts and graphs to present data in easilyunderstandable formats, interactive functions making it easy to change a report view tobetter suit a user’s needs, and convenient drill down and roll up functions to more easilyretrieve detail information. Following an extensive report examination, this document, prepared byHildebrandt Baker Robbins, reviews the above current key metricframework against that of the new ProLaw XII reporting system.Firm PerformanceThe need for better tools and metrics to manage a law firm’s businesshas never been more pronounced than in today’s legal climate.Traditionally firms have used measures like profits per partner tomeasure bottom‐line performance. Consequently, to measure firmperformance and profitability, FTE (Full‐Time Equivalent values)tracking is required to allocate revenue and profits.FTE tracking is implemented in ProLaw XII along with a ‘ProfitabilityIndicators’ report, which takes into account FTEs and a variety ofperformance indicators such as realization, utilization by percent ofcapacity, contributions per equity partner, leverage, and other metrics.In addition, ProLaw XII offers the capability of creating customfields, adding those fields to a data set, and creating a user‐definedcustom report from that set. As long as a firm categorizes theirattorneys by professional titles, performance measures such asprofits per equity partner (PPEP), profits per partner (PPP), revenueper lawyer (RPL), leverage can be readily calculated.FTE is added as a new, standardfield in ProLaw XII. Firm wouldneed to classify Partners by morethan just 'Partner' category (unlessall are considered Equity Partnerswhich would make this metric thesame as 'Profits per Partner'below).Additional perspectives outside ofProfit Indicators report could becreated using the Report Builderfunctionality.New ProLaw XII reporting features with custom report capabilities provide: a platform built on Microsoft’s SQL Reporting Services, integration with and export capabilities to Excel, Word, HTML,CommentsRealizationFrom FirmAnalysis ReportBundle – ProfitIndicatorsMeets bothhourly leverageand per variouslawyer leverageBilling AnalysisMeets for simpleRealization ‐ alsocollected andcontained withinbillingFirm Analysis ReportBundle ‐ ProfitIndicators report;Billing AnalysisSummary, and FeeAnalysisPerformance to GoalFTE is added as a new, standardfield in ProLaw XII.Additional perspectives outside ofProfit Indicators report could becreated using the Report Builderfunctionality.Standard reports combine straightworked value for the periodrequested, billed values for theperiod requested (vs. the actualfees worked making up thosebilling values), and paid fees for theperiod requested (vs. the feesworked).Expense ManagementThe increased pressure to reduce costs resulting in part by thecurrent flat demand trend for legal services, has created anenvironment in which improvements to a firm’s cost structure andcost accountability are paramount. Areas such as changes instaffing models, adoption of more systematic procurement models,and the delivery of legal services are driving change. Expensemanagement allows a firm to determine appropriate ways to investin and benefit from proper staffing levels and compensation. Thistype of analysis also helps a firm identify potential partnerships withefficient legal service providers, as well as effectively leveragingtechnology and staff.Using the Report Builder, ProLaw XII contains data elements andfunctionality allowing a firm to create custom reports to assist inexpense assessment. However, like most timekeeping systems,ProLaw XII might be improved to include analysis on staffing ratios,an area of great emphasis by firms today. The table belowsummarizes general Expense Management metrics:Management Category: Expense ManagementCurrent KeyMetric(s)ProLaw XIIReportMeets MetricNeeds?Expenses perLawyerA standard reportis not currentlyavailableMeets ‐ subject to Data available in GL and FTE valuesReport Builder use available in billing makes thismetric available via the ReportBuilder.Comments2Law Firm Performance Metrics within the ProLaw XII Reporting Framework

Staffing RatiosA standard reportis not currentlyavailableDoes not fullymeet - typicallyfew practice andfinancialmanagementapplications meetneeds or have astandard reportavailableLaw firm leaders are examiningeffective staffing models to offercompelling and cost-effective legalsolutions to their clients.Keys to staffing ratios are a cleardefinition of appropriate personnelroles within the firm, all personnelincluded in the professionals table,records count availability (by titleor staff code), and segregatedcompensation values by distinctstaff type in the General Ledger.Unless these conditions are met,staffing ratios will not be available.Practice PerformanceIn response to issues associated with today’s tight economy, practice groupperformance management is increasing in importance in areas such ascommoditization of legal work and pricing pressures. As a result, greateremphasis and accountability is being placed within the practice group level.Monitoring and managing practice groups allows a firm to review thecurrent trends and better plan for their future. ProLaw XII provides keypractice performance measurements: fees and growth, profitability,realization,leverage, and timekeeperutilization,as summarized below:Management Category: Practice PerformanceCurrent KeyMetric(s)ProLaw XIIReportMeets MetricNeeds?Fees andGrowthFrom Fee Analysis Report MeetsBundle - Fees by Month/Year/ Office; FromFinancials Report Bundle Income Statementw/comparativesUtilizationAlthough the traditional measure for law firms has been the ‘billablehour’, today more clients are demanding alternative pricing models some of which require the firm to take on an element of risk in amatter’s success. New pricing models and requests for fee caps,threshold discounting, fixed fees, and other alternative feearrangements are driving an increased need to accurately measurepartner performance. Measuring partners as both purveyors ofbusiness and as a part of the general working timekeeper productivityand profitability assists in reflecting the value of a firm’s real profitability.ProLaw XII contains a wide variety of working timekeeper reports focusingon fee analysis, transactional values, timekeeper performance tobudget, and originations that can show the continuity of work. While thesystem provides the standard reports, the enhanced capabilitiesintroduced with the new reporting features offer flexibility to provide datamore pertinent to the changing legal environment. ProLaw XII providespartner and timekeeper performance metrics as highlighted below:Management Category: Partner and Timekeeper PerformanceCurrent KeyMetric(s)ProLaw XIIReportMeets MetricNeeds?OriginationsAvailable in the FeeAnalysis ReportBundleMeetsCommentsMatrix report grouped byyear/month on rows with drilldown for months. Can groupand/or filter by office andpractice group. Containsbillable, billed, and collectedvalues. Provides review ofwhere firm stands within therequested time range.GL reports comparatives; caninclude MTD and YTD; caninclude budgets.RealizationPartner and Timekeeper PerformanceBilling Analysis Realization - Meets for simplealso contained within Firm collected and billingAnalysis Report Bundle Profit Indicators report;Billing Analysis, and FeeAnalysis Performance toGoalStandard reports combinestraight worked value for theperiod requested, billed valuesfor the period requested (vs.the actual fees worked makingup those billing values), andpaid fees for the periodrequested (vs. the feesworked).Transaction Hours byMeetsMonth and otherTransaction-based reportsReports display worked activity(in summary format) by month.Reports can be sorted in avariety of ways allowing thistype of report to be used for avariety of categories.MatterProfitabilityFirm Analysis ReportBundle - Profit IndicatorsVarious reports containmatter dataMeets both hourlyleverage and pervarious lawyerleverageWorking Attorney Various Fee AnalysisFeesreports (includingFee AnalysisPerformance toGoal); also reportsfrom the FirmAnalysis ReportBundle –WIP/ AR,Profit Indicators,etc.)Does not meet - nota good matter-basedallocation for costsHOWEVER othermatter-basedreports are availableWhen looking at base matterreports, ProLaw XII providesgood data - WIP, AR, Paid, andTrust balances by matter,Transaction Profitability,Matter Budget Comparison,Transactions Billed and Paid.Provides snapshot of matterhistory at a glance. However,true matter profitability is nottracked.Variety of higher level sortsavailable. Use of interactivetool can create different viewsand data sets.MeetsWorking timekeeper reports arerelatively standard andstraightforward. Further, withinteractive reporting features andReport Builder, different variationscan be created.RealizationMeets for simpleBilling Analysiscollected andRealization - alsocontained within Firm billingAnalysis Report Bundle Profit Indicators report;Billing AnalysisSummary, and FeeAnalysis Performanceto GoalStandard reports combines straightworked value for the periodrequested, billed values for theperiod requested (vs. the actualfees worked making up thosebilling values), and paid fees for theperiod requested (vs. the feesworked).Billable HoursReports within FeeMeetsAnalysis ReportBundle plus FeeAnalysis HoursWorked , FeeAnalysis Worked andBilled, TransactionHours by MonthBillable hours and productivityreports are standard andstraightforward. With interactivereporting features and ReportBuilder, different variations can becreated.LeverageFrom FirmAnalysis ReportBundle – ProfitIndicatorsFTE is added as a new, standardfield in ProLaw XII.FTE is added as a new, standardfield in ProLaw XII.Additional perspectives outsideof Profit Indicators report couldbe created using the ReportBuilder functionality.'Origination' defined as timekeeperwho acquired the work for thefirm.Variety of reports presentingworked/ billed/ collected value can be sorted and filtered by'Origination' timekeeper (if firmuses that personnel title or onewith a similar meaning).Nice snapshot of monthlyproductivity.LeverageCommentsMeets bothhourly leverageand per variouslawyer leverageAdditional perspectives outside ofProfit Indicators report could becreated using the Report Builderfunctionality.Client Development / Market StrengthMeasuring strength of client relationships and market share can be asubjective exercise. Feelings and personal temperament tend to cloudreality. The ability to measure the nature and strength of a firm’s clientrelationships is key in determining client development and continuedsuccess. Hard metrics remove ambiguity and focus on facts.3Law Firm Performance Metrics within the ProLaw XII Reporting Framework

ProLaw XII provides a variety of reports addressing various aspects ofclient development and retention. The ‘Top X Client/ Matters/ Areas ofLaw’ Report Bundle provides a good look at the diversification of clients/matters within a firm’s various areas of law. Within those areas, thereports also show which are at the top in billings and collections.‘Top X’ reports supply information regarding growth within anindustry, firm growth relative to its clients’ growth, leverage within aspecific industry, and perhaps uncover business tangential to anindustry that can be targeted for new client development. These ‘TopX’ reports can also aid a firm in measuring its client strength andrelationships to industries and adjust its marketing goals accordingly.Additionally, the ProLaw XII report suite offers fees by month/ year/office reports, realization reports, comparative financial statements,and origination reports that provide frameworks for objective clientdevelopment and diversification analysis. The table belowsummarizes the application’s capabilities for the clientdevelopment/ market strength metric:Management Category: Client Development/ Market StrengthCurrent KeyMetric(s)ProLaw XIIReportFees and GrowthFrom Fee AnalysisMeetsReport Bundle - Feesby Month, Year,Office; FromFinancial ReportBundle – FinancialIncome Statement,Comparative IncomeStatement withmonth- by-month rageMatterProfitabilityOriginationsBilling AnalysisRealizationMeets MetricNeeds?CommentsMatrix report grouped byyear/month on rows with drilldown for months. Can groupand/or filter by office and practicegroup. Contains billable, billed,and collected values. Providesreview of where firm stands withinthe requested time range.MeetsFrom Firm AnalysisReport Bundle Profit IndicatorsMeets bothhourly leverageand per variouslawyer leverageVarious reports display workedactivity (in summary format) bymonth. Reports can be sorted in avariety of ways allowing this typeof report to be used for a variety ofcategories.Nice snapshots of monthlyproductivity and performancereports.FTE is added as a new, standardfield in ProLaw XII.Additional perspectives outside ofProfit Indicators report could becreated using the Report Builderfunctionality.A standard report is Does not meet –not currentlydoes not provideavailablea good matterbased allocationfor costsHOWEVER othermatter-basedreports areavailableWhile true Matter Profitability isnot provided, ProLaw XII does offera wide variety of matter-basedreports (Matter Status report,Transaction Profitability, MatterBudget Comparison, Fee BudgetComparison, WIP/AR report in FeeAnalysis bundleAvailable in the FeeAnalysis reportbundle'Origination' defined as timekeeperwho acquired the work for thefirm.MeetsMetrics for balance sheet and risk assess the financial well-being of afirm pertaining to its capital structure. These measures include capitalper partner, debt per partner, debt to equity ratio, and debt/net fixedasset ratio. Metrics like these report the effectiveness of asset anddebt management, assist in identifying the need for more discipline orgreater innovation in pursing firm goals, and are useful in monitoringand measuring a firm’s financial leverage, liquidity, and overall health.With the availability of the Microsoft Report Builder tool, the new FTEfield, professional titles, and a flexible general ledger structure,ProLaw XII provides a firm the report creation capabilities mentionedabove and outline the relative financial leverage and capital structureof the firm. Additionally, ProLaw XII offers a variety of balance sheetreports with month-to-date year-to-date comparative (includingpercentages) and a statement of cash flows, as summarized below:Management Category: Balance Sheet and RiskCurrent KeyMetric(s)Variety of reports presentingworked/ billed/ collected value can be sorted and filtered by'Origination' timekeeper (if firmuses that personnel title or onewith a similar meaning).ProLaw XIIReportMeets MetricNeeds?CommentsCapital per Partner A standard report is Meets - subject Financial Balance Sheet Reportnot currentlyto Report Builder does show the equity balances andavailableusenet income. Report Builder couldbe used to produce report.Need to link titles (and recordcounts) to GL values.Debt per PartnerGL reports comparatives; caninclude MTD and YTD; can includebudgets.Meets for simple Standard report combines straightcollected andworked value for the periodbillingrequested, billed values for theperiod requested (vs. the actualfees worked making up thosebilling values), and paid fees for theperiod requested (vs. the feesworked).Transaction Hoursby Month, FeeAnalysisPerformance toGoal, reportscontained in theFees Analysisbundle, and otherTransactionprofessional basedreportsBalance Sheet and RiskA standard report is Meets – subject Financial Balance Sheet Reportnot currentlyto Report Builder does show the equity balances andavailableusenet income. Report Builder couldbe used to produce report.Need to link titles (and recordcounts) to GL values.Debt / Equity Ratio A standard report is Meets – subject Financial Balance Sheet Reportnot currentlyto Report Builder does show the equity balances andavailableusenet income. Report Builder couldbe used to produce report.Does have Statement of CashFlows.Debt /Net FixedAssets RatioA standard report is Meets – subject Financial Balance Sheet Reportnot currentlyto Report Builder does show the equity balances andavailableusenet income. Report Builder couldbe used to produce report.Does have Statement of CashFlows.Management and LeadershipPressures within the legal industry to create real change and theneed for improvement in the management of law firms acceleratesthe requirements for more sophisticated firm management andsmarter approaches to managing human capital. Continuedindustry consolidation and competition force firms to rethinktraditional ways of leading partners, working effectively with staff,monitoring market position, delivering value to clients, anddetermining strategic firm direction.In many respects, few practice and financial managementapplications can provide insights into what is happening in thegreater legal environment.Data regarding firm rankings,comparatives to peer firms, and satisfaction surveys typically comefrom outside sources. Those data points that can be measuredinternally tend to be tied to growth and financial strength fromwithin. While ProLaw XII reporting does not contain direct links tooutside data sources, it can provide insights into a firm’s well-beingand firm management with information to lead and create a firmvision.4Law Firm Performance Metrics within the ProLaw XII Reporting Framework

To quote Warren G. Bennis, a pioneer in the field of leadershipstudies, “Leadership is the capacity to translate vision into reality.”Reports outlining fee revenue and growth, staff turnover, matterprofitability, and collection realization offer components forpredicting future results against established firm goals and drivechange. The table below summarizes the application’s capabilitiesfor the management and leadership metric:Management Category: Management and LeadershipCurrent KeyMetric(s)ProLaw XIIReportMeets MetricNeeds?PPEP GrowthFrom Firm AnalysisReport Bundle Profit IndicatorsMeetsCommentsFTE is added as a new, standardfield in ProLaw XII. Firm wouldneed to classify Partners by morethan just 'Partner' category (unlessall are considered Equity Partnerswhich would make this metric thesame as 'Profits per Partner'below).Additional perspectives outside ofProfit Indicators report could becreated using the Report Builderfunctionality (also to provide yearafter year growth).Fee Revenue/GrowthFrom FinancialsReport Bundle Financial IncomeStatement w/comparative plusBilling Realizationand other billingreportsMeetsConclusionNew ProLaw XII reporting features present firms with a practicalmeans of reporting and creating metrics that aid in turning datainto knowledge for firm management. However, metrics are onlyactionable when a firm uses them as a collective (and over acontinuum) with an open mind to explore innovative ways oflooking at its performance, as opposed to simply selecting one ortwo metrics to prove pre-determined ideas.The industry is beginning to develop extended metrics for firms,ranging from indices that measure relative efficiency, relative riskto returns, to extended leverage calculations and return oncapital. The question being asked now is whether law firms areindeed ready for such change and a call to action as opposed tobeing complacent. ProLaw XII reporting capabilities provide ameans and a starting point for the discovery of new ways tomanage, review data and foster strategic insights, delivering onthe core metrics required to manage today, while preparinglaw firms to report on the metrics required tomorrow.Income Statement Comparative tolast year / same period 1 year ago.Additional perspectives could becreated using the Report Builderfunctionality (also to provide yearafter year growth).TurnoverA standard report is Does not meetnot currentlyavailableHowever, Report Builder could beused in conjunction with titles andemployment/termination dates – ifinformation is tracked inprofessionals table – to createreport. Could possibly useProfessionals Employment reportas base for further customization.Firm RankingsA standard report is Does not meetnot currentlyavailableData typically comes from externalsources; would not be able to getinfo unless connected into or havedata available via outside productsor services.See the At-A-Glance Chart of Law Firm Performance Metricswithin the ProLaw Reporting Framework for a summary of allfindings. Chart can be found on page six of this report.About Hildebrandt Baker RobbinsHildebrandt Baker Robbins is a multidisciplinary consulting firm,helping professional service organizations plan, implement, andachieve their management and strategic goals. Hildebrandt BakerRobbins’ expertise in professional services firm management isunmatched. This, combined with the company’s reputation forhelping firms implement practical solutions, has made HildebrandtBaker Robbins a consultant of choice for many of the world’sleading professional firms. Hildebrandt Baker Robbins is a businessunit of West Publishing Company and part of Thomson Reuters.PEER MONITORHILDEBRANDTBAKER ROBBINS 2010 Hildebrandt Baker Robbins, a Thomson Reuters business L-357302/2-105Law Firm Performance Metrics within the ProLaw XII Reporting Framework

At-A-GlanceLaw Firm PerformanceMetrics within the ProLaw XII Reporting FrameworkLawFirm PerformanceMetrics * ) *, )1 * % % * in% ) '&) 4 Thischart summarizesthe findingsthe report. .with /existing* % )& . ) '&) MEETSProLawreport .with ,* & '&) ,# 0 MEETSuse of Report # ) ' Builder Capability &) ) # - % *, * & 0 Key ) %definition &% MEETSfor relevant subset of theMetric ##0 *& . ) # # )% - * & * %& 2 &) &,# ' ) Does not meet, or could partiallybe metvia somewhat related alternatives Current Key Metrics MeetsXII ProLaw Metric?Report ! Meet’sMetricNeeds? (See detailed comments in the report.)FirmPerformancePerformanceFirm )& * ' ) ) % )* : (,Profitsper Partners & Equity 0 ) % )*2 - %, ) .0 )2 Partners,Revenue Per Lawyer, )& % &)* Profitability# 0 Indicators ) % #0** '&) ,% # 7 )& % &)* From )& Firm AnalysisReportBundle – Profit Indicators * 7 )& )& % &)* % '&) ,# ) ,* Meets– from Profit Indicatorsand Report Builderuse- ) Leverage ) % #0** '&) ,% # 7 )& % &)* From )& Firm AnalysisReportBundle – Profit Indicators * & &,)#0 # - ) % ' ) - )Meetsboth hourly leverage and per various&,* # .0 ) # - ) * lawyer leverages ## % % #0** # 1 &% 7 % #*& &% % .Profit % )& % &)* ) '&) 3 Billing AnalysisRealization– andalso contained withinIndicatorsreport;## % % #0** , )02 % % #0** ) &) % & & # Billing AnalysisSummary,and Fee Anal

ProLaw XII reporting offers a firm the capability to turn data into knowledge for law firm performance management. The new reporting features within ProLaw XII provide key financial and operational metrics necessary to monitor firm performance - many of which can be self‐defined by the firm.

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