Here at Katchr we want to make sure that you are getting the most out of your software so we have decided to introduce our weekly Top Tips.
Our clients are always asking us key questions such as “Which part of my law firm is most profitable?” or “How do I make sure my target measures are set up correctly?” and even “What do I do with a fee earners data who has left us?”
So every week, on our website, we will provide a Top Tip that will aid you in making decisions on KPI’s, profit measures, targets, etc.
To start us off we will begin with the Recovery % KPI.
Most of our clients show the Recovery % measure as standard on their Key Fee Earner Measures webpart on the main Overview dashboard.
The Recovery % has a simple standard business rule formula – Fees Delivered divided by WIP allocated or written off. Note – as with all business rules this can be customised to your own specification.
However, in firms where some teams/departments do not record time (often domestic conveyancing), the firm-wide aggregate of this measure will be distorted by those teams/departments.
To exclude those fee earners who do not time record from aggregates, simply click on the cog in the top right hand corner and select Maintenance from the list.
(Please note that only those set as Administrators will see the cog.)
Select Fee Earner Maintenance and edit any fee earner that does not time record. In the bottom section tick the box “Fixed Fee (Exclude from Recovery)”.
Press OK to accept the change.
That’s all that is needed. Next time you data updates (normally overnight) the aggregate recovery will be recalculated to exclude this fee earner.
Don’t forget to return here next week for another Top Tip.
If you require further information please e-mail or call us on 0845 6806 843.
Management Information Consultant at Katchr