Peer Monitor® is a dynamic benchmarking program that provides access to real-time economic data from selected firms and allows you to compare your firm against chosen peers, with details for practice performance. Get in-depth analysis on metrics critical to firm assessment, such as: demand, rates, productivity, and expenses, broken out by practice groups, offices, and individual timekeepers. Peer Monitor tracks industry trends, reveals profit opportunities, and supports strategic decision-making to help you maintain your firm’s edge in today’s competitive market.
- Broad coverage of all major financial measures, including: collected rates; realization; revenue; profitability; accounts receivables; direct expenses; and overhead expenses, reported directly by participating firms.
- Filters to slice data by practice groups, offices, and individual timekeepers. Create your own peer groups and set up "discovery" from criteria like rate levels, firm size, and key practices.
- Data is updated regularly to be current through last month's entered financials with over 3 years of historical data
- Website with 24/7/365 access allows for unlimited firm users, office locations, and Peer Groups. User profiles can be tailored for specific roles in the firm.
- Client reporting covers high-level legal industry trends, as well as key performance metrics such as KPIs, productivity, average daily demand, rate progression, realization, and demand by practice.
- Custom Reporting covers requests for specific monthly, quarterly or biannual reports required by the firm. Peer Monitor Consultants become an extension of your firm's analytics team.
- Monthly online webinars cover the latest legal industry update and an ever-changing range of issues such as expense deceleration, the balance of demand & capacity, and collection realization trends to name a few
- Get critical data you can trust.
- Drive profits with decisions based on insightful peer comparison and granularity on performance indicators.
- Access the most timely economic analysis available in the market.
- Ensures optimum data availability and usage of data and analytics.
- Stay aware of the latest legal trends developing in the market
- Provide answers custom designed to answer the questions among your highest levels of firm management
- Explore new legal issues that may effect your firm
Created by legal professionals and built on our trusted expertise and core assets that separate Thomson Reuters Westlaw™ from other research services. It lets you build the strongest argument by leveraging proprietary research tools.
Offers powerful financial and practice management features and built-in application development capabilities, seamlessly integrated into one high-performance system. A full suite of capabilities are delivered through a consistent web-based user experience.