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Law firm management
Advanced Financial Solutions
All in one solution
As you adjust to a shifting market, the ability to quickly access the right information when you need it is critical to your firm’s success. Stay competitive and protect your bottom line using powerful data allowing you to instantly respond to client needs and measure firm performance.
Thomson Reuters presents Advanced Financial Solutions, a Microsoft® Excel® solution that provides better visibility so you can confidently report on firm productivity, efficiency, and profitability. Four powerful solutions are offered as standalone products or as a package.
Advanced Financial Solutions for your firm
Learn more about the solutions that can help your firm become more profitable, efficient, and productive
Advanced Financial Reporting
Help avoid unplanned costs
Advanced Financial Solutions eliminates the process of emailing and consolidating of spreadsheets or other sources of data. Personalized dashboards always give decision makers the ability to drill down to key metrics and reports.
- Improve decision making with comprehensive, up-to-the-minute financial insights covering firm performance and trends
- Transform your data into meaningful, actionable information on a user-friendly dashboard
Budgeting & Forecasting
Forecasting and budgeting for analysis and reporting
Full audit and work-flow history so you know the who, what, where and when of data being entered
- Confidently plan and review firm productivity, efficiency, and profitability
- Track your firm’s budget in real time with profit-protecting insights
- Boost budget intelligence and quickly deliver critical data to decision makers
Profitability
Historical audit and work-flow data
Stay competitive and protect your bottom line using powerful data allowing you to instantly respond to client needs and measure firm performance. Advanced Financial Reporting is a Microsoft® Excel® solution that provides better visibility so you can confidently report on firm productivity, efficiency, and profitability.
- Gain visibility into profitability drivers, making it easier to optimize cost management
- Generate accurate cost rates by leveraging direct and indirect cost data
- Increase efficiencies and profits by calculating profitability analytics by practice, fee earner, client and matter
- Make informed business decisions backed by reliable financial data and persona-based dashboards tailored and filtered for what each manager needs
Partner Compensation & Accounting
Maximize partner retention and recruitment
Enable transparency in financial decisions between your firms partners by using a single solution that works for everyone. Advanved Financial Solutions creates personalized reports and uses data to help you and your firm do the following:
- Easier management of compensation for firm leadership
- Enable tracking of the partner’s current account, tax reserves, capital
- Produce accurate and secure reports that will allow for the proper decisions regarding partner compensation
One of the most important benefits of advanced financial solutions is that it simplifies our ability to compare budgets to actuals, helping us more accurately identify potential cost savings."
What was interesting about Advanced Financial Solutions is that it is branded as a budgeting and forecasting tool, but we quickly realized it could be configured in a way that could meet our long-term needs on several fronts."
Advanced Financial Solutions offers a much easier and more sophisticated way to configure computations that I used to have to do manually. This not only saves me a substantial amount of time, it also ensures complete accuracy."
