Ropes & Gray peut désormais bâtir ses modèles de revenus avec confiance et précision grâce à la solution agile CCH Tagetik.
Finance 12 octobre, 2022
Planning in a law firm with CCH Tagetik - Ropes & Gray and their unique nuanced of planning
Ropes & Gray is a global law firm, specialized in corporate law, IP litigation (Intellectual Property Litigation) and various other practices. They have offices in eleven locations around the world, six in the US, one in London and four in Asia.
Ropes & Gray was using Clarity for their overhead planning only but they didn’t have the flexibility in report building that they needed nor the ability to drill through the system to better understand their results. Their revenue and their cost of service planning were done entirely in Excel models so it was a manual process, very time-intensive, that took a full FTE's worth of work to build and maintain every year.
Ropes & Gray has a very unique way of planning, maybe even more unique to other law firms, and that for revenue purposes. Everything starts by understanding the attorney FTE, the lawyers are the ones who are driving billable hours and therefore revenue and so any revenue planning that Ropes does has to start with understanding that attorney population and ultimately they want to aggregate that population into various buckets that they will use to apply demand assumptions or activity assumptions. That unique planning model is something that CCH Tagetik was able to solve for Ropes & Gray with a very flexible system that allowed them to build a plan from a per lawyer basis and then apply demand and activity assumptions to various cuts of that population.
Hear what Ben Snietka, Senior Financial Analyst at Ropes & Gray, has to say.
Ropes & Gray was using Clarity for their overhead planning only but they didn’t have the flexibility in report building that they needed nor the ability to drill through the system to better understand their results. Their revenue and their cost of service planning were done entirely in Excel models so it was a manual process, very time-intensive, that took a full FTE's worth of work to build and maintain every year.
Ropes & Gray has a very unique way of planning, maybe even more unique to other law firms, and that for revenue purposes. Everything starts by understanding the attorney FTE, the lawyers are the ones who are driving billable hours and therefore revenue and so any revenue planning that Ropes does has to start with understanding that attorney population and ultimately they want to aggregate that population into various buckets that they will use to apply demand assumptions or activity assumptions. That unique planning model is something that CCH Tagetik was able to solve for Ropes & Gray with a very flexible system that allowed them to build a plan from a per lawyer basis and then apply demand and activity assumptions to various cuts of that population.
Hear what Ben Snietka, Senior Financial Analyst at Ropes & Gray, has to say.
When we asked Ben why Ropes & Gray selected CCH Tagetik for Budgeting and Planning he answered:
“It was really the flexibility and building the models, we went through vendor demonstrations and CCH Tagetik was really able to recreate in those demos the unique way that we plan and so we had confidence in CCH Tagetik above other competitive systems, that we would be able to take our nuanced way of planning and apply it in CCH Tagetik.”
“The biggest and most positive impact is having a streamlined, automated and flexible revenue model now, not managing that process in Excel like we had been doing but it's a shorter process, we have more confidence in the outputs of that process and so that's been by far the biggest win for our team.”
When we asked Ben why other law firm should select CCH Tagetik for Budgeting and Planning he replied:
“I would absolutely recommend CCH Tagetik to someone else, particularly other law firms who may have a nuanced way of planning that they think a system might not be able to capture. CCH Tagetik was flexible enough to capture our nuanced way of planning and so for that alone I would absolutely recommend CCH Tagetik to others.”
“It was really the flexibility and building the models, we went through vendor demonstrations and CCH Tagetik was really able to recreate in those demos the unique way that we plan and so we had confidence in CCH Tagetik above other competitive systems, that we would be able to take our nuanced way of planning and apply it in CCH Tagetik.”
“The biggest and most positive impact is having a streamlined, automated and flexible revenue model now, not managing that process in Excel like we had been doing but it's a shorter process, we have more confidence in the outputs of that process and so that's been by far the biggest win for our team.”
When we asked Ben why other law firm should select CCH Tagetik for Budgeting and Planning he replied:
“I would absolutely recommend CCH Tagetik to someone else, particularly other law firms who may have a nuanced way of planning that they think a system might not be able to capture. CCH Tagetik was flexible enough to capture our nuanced way of planning and so for that alone I would absolutely recommend CCH Tagetik to others.”
Élaboration budgétaire, planification et prévisions
Entrez dans la nouvelle ère de la planification avec le logiciel d’élaboration budgétaire, planification financière et prévision CCH Tagetik.
