The Essential 25 Law Firm KPIs – Module 1 Know Your Clients
How to use this list
- Only use those that are aligned with your firm’s business objectives
- Most KPIs should be monitored per team and for the firm overall
- Appropriate KPIs should be monitored per individual
- Appropriate KPIs should be monitored per work type
KPI Number 1 - Net Promoter Score
Widely used metric for measuring customer experience, grouping respondents as Promoters, Passives and Detractors.
There is no better business than referral… assuming your client is as happy as you think they are. By measuring the Net Promoter Score you can better identify who is your perfect ambassador and also, who needs more work.
Tips
- Survey retainer and repeat volume clients at least annually
- Survey other clients after every transaction
- Use an online survey to collect the data
- Automate the process to make it repeatable and scaleable
KPI Number 2 - Number of Client Referrals
Volume and value of new business introduced by existing clients.
There is no clearer message that a client values your service, than that client introducing you to another potential client.
Tips
- Create a culture of encouraging referrals
- Make it a standard question on completion of every case
- Use measurement and reporting to monitor results and compare across teams and individuals
KPI Number 3 - Repeat Instructions %
Percentage of new instructions that are repeat business from existing clients.
Repeat business from an existing client is usually many times more cost-effective to acquire than a new client.
Tips
- Existing clients are less likely to want to negotiate on price
- Focussing on repeat business, also drives quality of service delivery
- Carefully define an existing client – it is not necessarily someone you last worked for over 3 years ago
KPI Number 4 - Client Profitability
For any business client, the aggregate gross profit per transaction of all work done for that client.
Calculate a measure of matter profitability using time recording data and the cost of time of fee earners involved.
Tips
- Include non-chargeable time spent working for that client
- Consider including cost of acquisition
- Aggregate all matters worked on for each client
- Timebox the data – Financial Years, Rolling 12months based on final bill date
- Don’t obsess about the minute details of accurately calculating absolute profit per matter
- Focus on relative comparisons between clients
- See Gross Profit per Transaction (details in Module 2)
What our customers say
Hugh Gardner, Partner, Marriott Harrison explains how Katchr made people think differently and work smarter.
Andy Duckworth
Finance Director
Trethowans
Alistair Howard
Finance Director
Lodders
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Managing Partner
Lanyon Bowdler
Explore our Katchr Enterprise Features to discover why top law firms choose to use our software to address their reporting challenges.
KPI
dashboards
Today’s data is real-time, and Katchr allows you to track and plan your firm’s management system from one central law firm dashboard.
Clear, in-depth data analysis at the touch of a button.
Ad-hoc
analysis
Katchr includes built-in, easy to use tools for ad hoc analysis of your law firm data.
Compare individuals, teams and offices across a broad range of performance measures.
Risk and
compliance
Advanced
Analytics
Financial
Reporting
Know your numbers – No more waiting days or weeks for month end reports.
Monitor your business in real time. Katchr provides fast, automated production of financial reports.
Business
Development
Understand your new business pipeline.
Get a detailed analysis of sources of business, the profitability of clients, by sector, and cross-selling opportunities.
FAQs
Katchr Enterprise can store data either in your data centre (on premise, private hosted, private cloud), or in the Katchr Cloud environment.
Either way you have the re-assurance that Katchr is certified to ISO27001, ensuring that we carry out all development, support and services using best practice and to the highest standards.
Katchr Cloud solutions store all data in UK data centres. More details available on request.
The following PMS integrations are fully tested and available:
Current PMS Solutions:
- Aderant Expert
- Advanced Legal Business (ALB)
- Civica (Norwell) Prescient
- Eclipse Proclaim
- Elite 3E
- LEAP
- Linetime Liberate
- Peppermint CX
- SOS Connect
- Tikit Partner
Legacy supported products:
- Advanced Legal Enterprise (ALE)
- Advanced Legal Enterprise
- Advanced Evolution
- Elite Envision
- Indigo
- Lexis Nexis Axxia
- OMS
Want another? Custom integrations are available on request for any data source with a SQL database or published API.
Yes, absolutely. One of the benefits of the Katchr solution is the ability to consolidate data across multiple data sources, such as:
- Multiple instances of the same PMS
- Combining PMS data with other accounts packages (eg. Xero)
- Using CRM and/or HR system data to provide KPIs across client and team engagement
Yes, Katchr dashboards are fully customisable using the built-in dashboard designer – a very popular feature.
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