What Are the Key Performance Indicators (KPIs) that Matter for Your Firm's Success?
By Jeremy Beam
Law firms, like any other business, need to be aware of, monitor and act on key performance indicators (KPIs). While firms are typically on top of measuring billable hours, there are many other KPIs that can help you better manage revenues and expenses. Knowing how—and when—to measure and benchmark a firm's KPIs against industry trends and best practices will help modify and improve firm performance. KPIs can deliver a treasure trove of information to law firm administrators and partners—the key is knowing what to look for and how to report your findings in a format management can understand.