With QSS in place, users will have access to data directly through any visualisation tool of choice (including PowerBI) to find all required data easily, without needing to consult a SQL specialist. The new development means that legal finance teams will be able to drill into key financial metrics to make more informed business decisions, backed by meaningful data, to drive profitability.
BigHand has experienced a surge of interest in its BI and profitability solutions as a direct result of the current economic uncertainty and continues to invest in the product suite in response.
As well as the QSS development, BigHand continues to build on its existing integrations to systems such as Elite and Aderant, with further PMS integrations to help fully support its clients in gaining access to its advanced BI. In order to support its progressive product roadmap, the leading technology company has also furthered its investment in development resource with three new teams for its BI and Profitability product suite.
BigHand’s 2020 Legal Cash Flow Survey highlighted the lack of financial visibility available in law firms globally, with only 1 in 5 partners having access to real-time cash recovery data in the UK, and only 14% of partners in the US having access to profitability data.
James Baldassarra, Head of Product (BI) at BigHand comments, “Our recent survey proved there is a gap between law firms wanting to improve their cash flow, and not having the necessary financial visibility to make informed business decisions. This problem has only intensified in the current economic climate. Now more than ever, law firm leaders need meaningful, actionable data to plan for the future. At BigHand we are committed to addressing this challenge by continually investing in product development so we can deliver robust, easy-to-use solutions that solve our client needs.”