How Law Firms Use Katchr to Drive Financial Performance

Don’t have time to watch the full video now? Here are some highlights.

How Katchr Supports Financial Management
(0:15 – 1:32)

• Provides a daily overview of key financial metrics (billable value, chargeable time, cash collections, fees, new matters).
• Helps with lock-up management and query resolution.
• Enables self-service access to financial data, reducing reliance on the finance team.

The Growing Appetite for Data & Transparency
(1:32 – 2:42)

• There is an increased demand for real-time financial data among partners and department heads.
• Katchr enables better decision-making, performance tracking, and departmental comparisons.

Using Katchr for Business Decisions & Hiring
(2:50 – 3:43)

• Helps heads of department think more commercially.
• Supports business case development for hiring new fee earners by providing realistic revenue expectations.

Key KPIs & Timely Monitoring
(3:46 – 5:01)

• Chargeable time, chargeable value, and lock-up management.
• Timely tracking of aged debt and work in progress (WIP),
• Responsibility for debt collection lies with fee earners, not a central credit control team.

Actionable Insights vs. Static Reporting
(5:01 – 6:09)

• Katchr provides timely insights rather than static monthly reports.
• Ensures ease of access to relevant financial data without long reporting delays.

Marketing & Business Development Benefits
(8:41 – 10:09)

• How the TSP marketing team utilises Katchr’s data for client analysis and strategic planning.
• Top clients, referrers, and cross-selling dashboards provide visibility into business opportunities.

Risk & Compliance Management
(11:10 – 12:13)

• Katchr’s alerts system helps track overdue debts, inactive matters, and compliance risks.
• Provides up-to-date risk insights for the firm’s compliance team.

Katchr as a Decision-Support Tool
(13:25 – 15:01)

• Supports financial and operational decision-making without being perceived as a “Big Brother” tool.
• Helps fee earners and heads of departments take ownership of financial performance.

Challenges in Financial Management
(16:04 – 17:16)

• Cash flow management is a key challenge for law firms.
• Katchr aids in lock-up management, WIP billing, and debt collection.

Customer Success & Support
(19:48 – 22:30)

• Katchr’s customer support and responsiveness are highly valued.
• Continuous product development and new features enhance its usability.
• Emphasis on its continuous improvement and adaptability to law firm needs.

Final Advice for Firms Considering Katchr
(23:01 – 24:36)