Practice Intelligence · Benchmarking

See how your firm
compares.

Insights into how your firm is performing as the industry evolves around you. Developed with law firms, for law firms.

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In short

What is law firm benchmarking?

Benchmarking in Practice Intelligence (formerly Peak Performance) compares your firm’s performance with peer firms on fees per hour, chargeable time per day, write-offs, WIP days and debtor days. It reveals opportunities to improve profitability, efficiency, staffing and client value. Only aggregated, anonymised metrics leave your firm’s environment, and they’re chosen so no firm’s figures can be worked out from the results.

Now available with

  • LEAP
  • Actionstep
  • InfinityLaw
  • OneLaw
  • FilePro
  • Practice Evolve
  • Aderant

Formerly Peak Performance

Actionable insight into your firm’s performance against peers.

Benchmarking is a data-driven analysis tool for law firms, powered by Power BI. It shows how your firm performs against its peers, revealing opportunities to improve profitability, efficiency, staffing and client value, for more strategic decisions and a competitive advantage.

Your figures stay yours. Only aggregated, anonymised metrics leave your firm’s environment, and they’re chosen so no firm’s figures can be worked out from the results.

Benchmarking metrics compared with peer firms

The metrics

What you can compare

MetricWhat it tells you
Fees per hour How much each recorded hour earns once billed
Charge time per day Capacity and engagement across your fee earners
Authors active per month The size and shape of your fee-earning team
Write-off % Time markup and markdown
Premium % Time markup and markdown, plus invoice adjustments and negative fees
WIP days How long work sits before it’s billed
WIP 90+ day % How much unbilled work is getting old
Debtor days How long clients take to pay
Debtor 90+ day % How much unpaid billing is at risk

PEAK Score combines five high-value metrics (the highlighted rows: fees per hour, charge time per day, write-off %, WIP days and debtor days) into one simple score, so you can see at a glance how you compare with other firms.

Included dashboards

Two Practice Intelligence management dashboards included.

Firm overview:

  • Monthly budget against actual to date
  • Yearly budget against actual to date
  • Current WIP and debtors by group
  • Author performance

Author performance:

  • Budget
  • Team averages across the firm
  • Client fees and time by matter and by team
  • Chargeable time by activity and author for the last 12 months
Author performance dashboard

Results

In our clients’ words

“The impact of implementing Practice Intelligence was immediate, and made all Producers conscious of their performance metrics and gave Partners/ Management easy access to valuable insights across all Teams.”

Peter Rothwell
Finance Manager, Govett Quilliam

“Partners have easy access to a wealth of practice metrics in both Windows and iOS environments and authors have quick and easy access to key metrics such as daily hours and detailed WIP and debtor information.”

Peter Rothwell
Finance Manager, Govett Quilliam

FAQ

Frequently asked questions

Is this the same as Peak Performance?

Yes. Peak Performance is now part of Practice Intelligence, as Benchmarking.

Can other firms see our numbers?

No. Only aggregated, anonymised metrics leave your firm’s environment, and they’re chosen so no firm’s figures can be worked out from the results.

What is the PEAK Score?

A single score built from five high-value metrics (fees per hour, charge time per day, write-off %, WIP days and debtor days) so you can see at a glance how you compare.

Which systems does it work with?

LEAP, Actionstep, InfinityLaw, OneLaw, FilePro, Practice Evolve and Aderant.

See how your firm compares.

Book a call and we’ll explain how benchmarking would work for your firm.

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