Firm Scorecard (Feature)
Firm Scorecard
The Firm Scorecard Feature was created to help corporate legal and insurance departments benchmark their firms to encourage more efficiency/better outcomes, and how to choose the best firm to handle a specific matter in a specific region.
Locating Firm Scorecard:
- Click on the FIRM / VENDORS in your top navigation
- Perform a Firm Search
- Click on the Firm hyperlink
- If the Firm Scorecard feature is turned on for your site, you will observe the Scorecard tab on the Firm Profile:
- Four KPIs (key performance indicators) are specific to the selected firm
- Default time period shown is calendar YTD
- Click on the collapsed FILTER to update the parameters
Firm Comparison
Firm Comparison measures a specific firm in a select group - for up to 8 attributes selected by the client. Each attribute is weighted in comparison to all other attributes in terms of importance to client - weighting is configurable.
Weighting is set as follows (most important to least important).
- Hover over the bar graph to view the prior year data
- Click on the bar to see a 5 year trend
- Click the download icon to perform a data extract for the selected data point
NOTE: Navigate to Analytics>View Canned Reports>Firm Scorecard Overview to download all attributes for all firms into excel. See Canned Reports
Acuity Score:
Based on the weighted algorithm, what the Acuity Score is telling you is that the best firms will:
- Lower fees per claim / lower hours per claims
- Lower number of attorneys / PLs billing per claim
- Lower blended rate
Color-coded score and gauge show you how specific firm ranks as compared to selected set. Score is based on comparison with other selected firms. If you change the cohort, the score can change as well.