Advanced analytics, reporting, and dashboard tools enable profitability analysis at a transactional level and improved insight and visualization of KPIs
NEWTOWN SQUARE, Pa. (March 23, 2017)…Wilson Legal Solutions, a leading provider of consulting services and analytics software for law firms and professional services organizations, has announced the availability of version 1.5 of its Wilson Ideate software, the company’s flagship law firm performance management solution.
Since its original market introduction as Wilson Analytics Professional suite, Wilson Ideate has become a valuable business intelligence tool for law firms. Wilson Ideate makes it easier for law firms to access, analyze, and share the data that drives profitability and performance. Ideate 1.5 takes these capabilities to a new level – allowing all users to report and visualize information, providing greater insight to better manage how the business is performing.
“Today’s business environment is more challenging and competitive than ever. Firms need to analyze their business through multiple lenses and at varying levels of detail. One size definitely does not fit all for different consumers of information,” says Greg Murphy, vice president of products for Wilson Legal Solutions. “Ideate 1.5 allows firms to tailor the information delivered to varying constituencies and modify both access and displays very quickly. The end goal is performance management and Ideate helps by facilitating the decisions and workflows that maximize performance.”
Some features of Ideate 1.5 include:
- Enhanced profitability analysis – Greater flexibility to allocate expenses across transactions to workers, matters, titles, departments, sections, and groupings of individuals. Easy-to-use templates allow for a more accurate representation of profitability and enable the analysis of revenue according to cash, work, or bill-based models.
- Improved financial reporting – Using drag and drop functionality within a familiar Microsoft Excel interface, users can analyze and report on budget-to-actual spending at an account or detail level and see expense trends over time.
- Easier configuration of key metrics – Firms can report on performance using an ever-growing library of ready-to-deploy metrics for improved insight into firm operations and to drive down the cost of software ownership, deployment, and customization.
- Better productivity and performance – Add-on tools for the Wilson Performance Framework allow firms to streamline day-to-day activities to enhance performance. A pricing app allows partners and finance to model and price matters to help improve the profitability of hourly and fixed-fee arrangements. A workflow app allows partners and finance to immediately take action on alerts and issues requiring attention such as prebill review and edits, write-off approvals, accounts receivables forecasting, and late time.
To learn more about Wilson Ideate software, please visit our software page.
About Wilson Legal Solutions
Wilson Legal Solutions is a leading global provider of consulting services and analytics software that enables law firms and professional services organizations to improve business performance. The company supports firms throughout the lifecycle of practice management software. It is a Certified 3E Services partner with Thomson Reuters Elite and is certified to provide services for all Intapp products. Its advisory services feature globally recognized business of law consultants who enable strategic, data-driven decisions. The company’s Wilson Ideate software makes it easier to access, analyze, and share the data that drives profitability and performance.