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Cash is king, and there is no working around a cash flow issue that does not include keeping a close eye on Accounts Receivable (A/R) aging. How often do your non-financial professionals monitor A/R? Are individual attorneys aware of collections aging when prioritizing their workload? Are Client Advances sitting on the books but not billed? Where do the largest accounts receivable issues crop up?

As a financial manager you will appreciate how BIPro raises attorney awareness of financial performance and relieves the burden of producing and distributing reports to individual billing professionals. For example, with BIPro’s Cash Profile, attorneys and non-financial managers can instantly prioritize their efforts to address issues in Accounts Receivable and Client Advances. The BIPro color-coded charts graphically display a client’s proportional share of the firm’s overall A/R as well as its age so collection efforts can have the greatest impact. 

Key Features for Financial Managers

  • Accounting resources save time running reports, querying metrics, compiling data
  • Real-time access to reports instead of reporting cycles or schedules
  • Use to monitor billing vs projection and set budgets
  • Actively manage billing and collection speed
  • Actively monitor cash receipts and client advances to maximize cash flow
  • Use daily for: Collections, Moving WIP, Monitoring cash flow, Billing client advances

 

Reports:

BIPro includes several standard reports that often do not exist in firms’ reporting packages. Additional customized SSRS reports can be developed and added, making BIPro a central point of reporting for the firm.

Standard Reports:

(Security preferences set access levels to reports and data)

  • Effective Rates
  • Firm Time View – External
  • Firm Time View – Internal
  • Management Report – Individual
  • Management Report – Overview
  • Time Entry Analysis

 

Billing Projection Administration:

BIPro offers the unique ability to manage a professional’s individual projections by month. Instead of managing an individual’s productivity over the course of an entire year a more customized monthly projection can be compared to actual billing activity. On the Projection Admin tab the practice area manager or mentors can enter monthly projections by either dollars or hours billed.

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