RICHMOND,Va., May 8, 2019 /PRNewswire/ — Acuity ELM, a leading provider of cloud-based enterprise legal management software announced its latest product feature today – The Acuity Firm Scorecard. First to the market, the Firm Scorecard uses top KPIs to dynamically calculate and clearly illustrate how the firm is currently performing compared to previous years, and how the firm compares to other firms in its cohort.
Acuity’s analysis uses the firm’s historical data and the attributes selected by the user to give each firm a score. The Acuity Score provides you with real-time insight to help distinguish top performing firms, highlight strengths, identify areas of improvement, and allow you to more efficiently choose the best firm for the job.
“No longer should valuable time be spent compiling data from disparate sources or tracking down subjective survey feedback in order to get a clear picture,” observed Kelley Johnston, Acuity’s President. “Our goal is to provide our clients with the data analysis they need, at their fingertips: to facilitate more efficiencies in legal representation, stronger choices in counsel selection and thus better outcomes.”
The algorithm for the Acuity Score is configurable which gives you the power to produce a meaningful result based on the metrics that are most important to you. Typical KPI’s measured include:
- Average legal spend per matter
- Average number of distinct attorneys working on each matter
- Average cycle time (from assignment to matter resolution)
- Average blended hourly rate
- Average total matter costs (legal spend + other costs such as indemnity, etc)
In addition, dynamic filters such as region, state, and type of legal work allow users to narrow the results to provide a more focused comparison.