To optimize profits at a law firm, management needs to be able to measure and improve the key
financial metrics -- such as lawyer billability, invoicing cycle times, and credit lines --
that drive profitability. OpenAir lets firms do that by centralizing time and expense capture,
billing, knowledge management, and client relationship management into a single easy to use software
application with powerful reporting capabilities.
Some of the key offerings of the OpenAir solution for law firms include:
Easy, effective time and expense managementGetting billable hours and expenses into the system of record is a challenge in any service firm. OpenAir makes this process as fast, simple and convenient as possible by offering an intuitive, easily accessible timesheet and expense management system. Professionals can enter time from any web-enabled computer, from a disconnected PC, or from handheld devices such as a Palm Pilot or a Pocket PC through highly customizable interfaces. Alternatively, authorized users can ìproxyî into OpenAir and submit information on behalf of others. OpenAir also offers an automated web-based approval routing system for faster processing.
Financial management and billingOpenAir integrates all pertinent billable information into one system that integrates easily with any general ledger package. It combines billing information with cost data to enable sophisticated, always accessible profitability forecasting and reporting at the employee, case team, office or firm level. This continuous feedback loop provides managers all the tools they need to proactively optimize profits. At the same time, OpenAir provides tools to manage collections to reduce the time from completing billable work to receiving payment.
Centralized customer relationship managementDeepening existing customer relationships is the easiest, most cost-effective way to build new business, and OpenAir makes it easier to do so. Instead of having important client contact information and history dispersed across the firm in the address books or head of individuals, OpenAir lets you aggregate and centralize all this information for current and prospective clients and make it selectively available across the organization. The same system also lets you track business development activity and forecast revenue based on current and prospective client matters.
Online firm-wide knowledge managementOpenAir offers a complete online system for accessing, organizing, and managing versions of documents as well as for sharing information with colleagues through threaded discussions. The knowledge repository is secure and appropriate access levels can be set at the individual level. Authorized personnel can search the database for relevant documents and discussions and reuse them to avoid recreating existing work product.