Post by Nelson Teixeira, muchBeta’s Chief Data Officer:

LawRD’s reports are devised so that any law firm manager gets an immediate answer on data submitted to the system.

To that end, we’ve identified in the system, the main Entities to which data is associated to. These are: Clients, Matters, Lawyers, Rainmakers and Performance. These entities can be individually used as value aggregators or combined as data filters.

Next, we’ve also identified all numerical Pointers on: how much we have forecast on costs, how much are we actually spending and how much are we profiting. We have also crossed these basic pointers with invoices status and the partial amonts of these dedicated to expenses and tasks. This data allows us to know, among other important issues, the Net Worth logged in the system the Plan Accomplish Ratio or the Time Productivity.

This data analysis will enable the end user with a tool for spotting, in an analytic fashion,  the causes for an atypical billing period, a decrease on revenue, growth or slowing trends. When examining the issues we’ve mentioned, LawRD’s reports will tell us about: Who, to Whom, What, When, Brought by Whom, under Whose Responsability and the ever wanted HOW.

In order to ease the equation of problems, reports are sorted by Entities, each having four analysis groups: Money, Time, Profitability and Productivity. Every group contains a set of pointers clustered by the entity previously chosen. If willing to do so, users can also filter data through a form containing all six entities.

Example: lawyer John presents a 25% decrease on productivity for this month. Given his quite up to standard and regular performance over the past few months, I’m having some trouble pin pointing what is the cause for that. The issue may present three possible angles:

• John is losing focus and is just not keeping up with his usual performance, as the productivity report states.
• The firm is going through a rough spot. That can easily be concluded by the time line of the report on Turnover.
• Jonh is working on a matter that turned out to be a black hole. To check on this case, I must select the matter entity, the Time analysis group and the filter lawyer John. A discrepancy between the logged time and the billed time will sort the cause for this problem.

Given the large amount of data used in every report, which involves nearly all application’s data structures, we had to devise a strategy of data cache in order to simplify and streamline data selection. The sole minor issue here is that, data is not displayed in real time (updating happens every half hour), but when it is imperative, users can override this by manually updating it in a single click.

Keeping up with a matter’s profitability is but one of the features on LawRD, reports wise. The Reports tab enables users with an array of pointers most useful to any lawyer or manager:

The following example shows how thoroughly detailed reports on LawRD are. Let us picture this: there’s this lawyer, who is partner in a firm, about to have a meeting with a client to debate the annual fee for the legal advisory service.

That lawyer logs into LawRD and on the Performace option, clicks on the Money report (data retrieved from our Demo Account). This report displays various firm’s financial data:

This report compiles data from all clients and matters: once the math is done, one can conclude that in the last 3 month period the firm billed a total amont of £131,635.94.

The lawyer, wants to see the data from this report that concerns the client Pub & Creativity, though. To do that, all that’s need is to use Filters, cliking on show filters:

To gather data from a single client just pick the name from the Choose a Client box, then click on Filter >>. The lawyer will then get from that report the following:

The lawyer has come to the conclusion that the client Pub & Creativity represents a revenue of £32,012.83, i.e., nearly 25% of the last quarter’s gross revenue (the time span of the report can be changed through filters). This is an important client… which will shorten the range for him to negotiate.

However, the report stands out an amount of £31,865.00 (Unbilled column) that has not been billed yet, during those 3 months. That makes the lawyer wonder: “Are we billing all the work my team has been putting into this client’s matters?”. By sellecting the Time report on the Performance option, he’ll get his answer:

Next, he has applied a filter to check the data concerning only the client Pub & Creativity:

.. to conclude that the team worked about 259 hours for that client, but only 143 of these were billed. This might prove to be a valuable argument when negociating with the client.

And all it took were 2 LawRD reports.. from a total of 24 that LawRD can provide, along with the possibility of customization (to be dealt with in future posts).

Sometimes there’s the need to go back to square one. This should have been the first post ever on LawRD’s Blog: LawRD, what is it good for?

There’s a debate going in the law milieu on whether or not hourly rates are the best way for charging  legal services. We will not go into that! It is not up to us to tell lawyers what is best for them on that concern. What we can state for sure is that LawRD meets the several models of fee convention that lawyers choose for their clients’ matters. LawRD allows you to bill hourly, flat fee, contingency fees and success fee.

Whichever way a lawyer chooses when billing fees, there is an unavoidable fact: lawyers do invest time on matters. An example: when emailing to a client during working hours, a lawyer is investing  time which has a cost that is equal to the lawyer’s hourly rate times the total time spent on that task.

An issue arises here: how can lawyers account for their cost per hour? That calculus can either be simple or complex. In a law firm the cost can be achieved by adding the lawyer’s salaries, bonuses and other costs that are to that person related, divided by the total amount of hours the lawyer worked during a certain period of time (a month, a year). A solo practice will have to bear in mind a minimum amount so it is profitable. For instance: if a lawyer needs to have a minimum of $15,000/month proceeds and is willing to put in 150 hours, the hourly cost will be $100.

Knowing the cost is just the half of it. The other half is logging the time spent on each matter. Any way… there is only one way of doing that: using a timesheet. Such a sheet can be as simple as piece of paper stapled to the folder wherein they will hand write down the time spent. That will do the job, but can it help answering swiftly to issues such as:

• How much time did I spend on a matter?
• What is the total cost of a matter?
• Is the matter profitable?

This is where LawRD - Reports on Demand comes into action! Use LawRD and the answers are just a click away. Check this example from LawRD’s Demo Account:

The Total line displays an amount of 62:30 which has a cost of $8,210.25. This is  a hourly rate matter and there is an amount of $14,370.00 billed, therefore it shows a profit of $6.159,75. There you have the answers for the previous questions. It just took a click on the Timesheet tab.

The Timesheet tab still remains relevant for matters that are not billed by the hour. The reason why is very simple: there is the need to match the fee agreed with the client with the actual costs of that matter. Recurring again to the Demo Account, you can notice that the amount of €1.500,00 was agreed with the client:

By clicking on Timesheet you can answer to:

• How many hours were spent on the matter? A: 9:35
• What is the total cost of the matter? A: $1,012.25
• Is this matter profitable? A: yes, it shows a $987.75 profit, at the moment.

Now we can answer to what is LawRD good for? In a sentence: LawRD allows for a swift answer on any matter’s results.

(La versión en español aquí)

Having some doubts about LawRD? We have the answer: a Live Demo!

With the aid of  ‘online meeting’ tools, you can follow thoroughly on your screen a demonstration of LawRD, and have the live assistance of a LawRD Team member. While you are watching confortably LawRD unfolding on your computer screen, talk to us by phone or online about what you are seeing, live.
 
Demos are presented in portuguese, english and spanish.
 
Send an email to info@lawrd.com  to book a live demo, mentioning:

• Name
• Email
• Phone number
• Country
• Language you want the demo to be presented in

The LawRD team will contact you back to confirm the demo’s date and time.

LawRD is a SaaS - software as a service - application, thus delivered over the Internet. Therefore, LawRD’s users data is stored on Web servers.

It is only natural for issues and doubts on data security to arise.

Before getting to the point, here is some food for thought: it is almost certain that you already bought something or did some sort of banking transaction on the Internet. Most definitely, you use e-mail.

The commom denominator to these 3 situations: with no exceptions, they all use Web servers.

With LawRD, we have implemented industry’s best practices in order to offering the safest data protection possible. Such procedures are:

• Data storing on Amazon servers via Amazon Web Services (AWS). Amazon web servers have physical security that equals the one found in military facilities. For instance, every access, be it physical or electronic, to data centres by Amazon employees is registered and audited regularly. AWS service security was good enough for NASDAQ to lodged store it’s Market Replay service.
  Adding to this, operational security is ensured by LawRD’s development team and suported by implementing firewalls and permanently updating the operating systems that support the Web application stored on Amazon servers.

• Safe communication between users’ browsers and the application servers. From the very first access to the site, communication is protected by HTTPS protocol through a 256 bits SSL digital certificate.
  
  HTTPS and the digital certificate assure that both communication between browsers and servers is encrypted (safe from prying eyes), but also garantees that users are actually accessing LawRD’s website and not an illegal surrogate.
  
  For a more in depth  reading on LawRD’s security, please go to
  https://www.lawrd.com/html/files/en/security.pdf

• Pledge of confidentiality: for us at LawRD confidentiality is a pledge described in our Privacy Policy document: https://www.lawrd.com/html/files/en/privacy.pdf. The #5 of that document states: 5 - muchBeta will not make any of the collected information available to anyone. We will never sell, rent, exchange or share your personal information with any third-parties (…)
  Another important issue: Although muchBeta owns the code, databases, and all rights to the LAWRD application, you retain all rights to your data.

Aware that data security is vital to all web application users, we ground ourselves to the best safety practices available and keep updated using state of the art technology.

LawRD is now available in Spanish

With the spanish version we have reached a goal we set from the beginning: to make LawRD available to Spain and all hispanic countries.

So… Bienvenidos seáis.

LawRD – Report on Demand, es una aplicación 100% web de apoyo a la gestión de despachos de abogados, centrado en sus necesidades cuotidianas:

• Control de los tiempos de trabajo dedicados a la ejecución de tareas por los abogados del despacho que colaboran en varios expedientes;
• Control de cuentas corrientes, productividad y rentabilidad de clientes.

Para observar las principales funcionalidades, el flujo de trabajo que está en la base de la aplicación y un destaque de los “informes” que nuestros usuarios han considerado como la funcionalidad más útil y diferenciadora, hemos preparado esta presentación.

Echad un vistazo:

An issue of security: where is my data lodged? Answer: at Amazon´s servers!

The data of our users is lodged on the servers of Amazon via Amazon Web Services (AWS). This way, LawRD provides its users the same level of security as the one given by that famous e-commerce web site.

Jeff Barr, Web Services Evangelist at Amazon, wrote this about LawRD on AWS blog:

After paying a very modest per-user monthly fee of 14 Euros per month, users can track the facts (what, when, where, and how) for each case, client, and employee. Timesheets, contact lists, invoices, and reports are all readily available. All data is encrypted and of course there’s no local software to install.

If you want to know more about data lodging on Amazon, please read the PDF on Security Policy, below:

https://www.lawrd.com/html/files/en/security.pdf

With LawRD, lawyers and law firm managers can control the critical variables on their practices:

• The revenue per client and matter;
• Tracking time and productivity of their teams.

The main goal is the issuing of reports on the fly, whenever and wherever there is an Internet connection: LawRD is available as SaaS application!

Check on this presentation all functions of LawRD, in our SlideShare space: