Overview

What are Advanced Financial Solutions from Thomson Reuters?

Is delivering consistent legal work for your clients while staying profitable a challenge for your firm? Can you quickly identify high-margin work and then focus on obtaining and retaining it? How do you lower your costs and create efficiencies on routine work? To be successful in this evolving market, firms need tools to quickly access financial information and adjust business plans. Advanced Financial Solutions from Thomson Reuters enables you to gain greater accuracy into firm productivity, efficiency, and profitability. By having critical financial data immediately at your fingertips, you can measure daily results, plan for the future, and implement changes quickly.

Start predicting business outcomes now
Review recent firm productivity instantly
Strategically reduce costs with real-time insights
Confidently plan for the future

 

Advanced Financial Reporting

Quickly report and respond with accuracy

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.

  • Easy implementation allows your people to access the intuitive software in less than four hours. 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 and Forecasting

Keep your long-term budget on track

The current landscape is pressing many law firms to make difficult budget decisions. Advanced Financial Solutions helps you plan and react with confidence by providing data-driven analysis and built-in tools designed for your specific needs.

  • 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

Stay on target for future growth

Maintaining stability and navigating market shifts can create new challenges for your firm. Our easy-to-use profitability tool helps you stay on target and prepare “what if” scenarios on a Microsoft Excel interface you’re already accustomed to.

  • 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 using persona-based dashboards tailored and filtered for what each manager needs

 

Partner Compensation and Accounting

Maximize partner retention & recruitment

The solution for firms focused on effective compensation management to maximize partner retention & recruitment removes systemic risk and enables users to contribute more strategically.

  • Gain easier management of compensation for the firm’s 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

 

 

A fast, reliable, and profitable solution

“Overall, everything is painless with [Advanced Financial Solutions]. The time that we are able to save with the solution frees our staff up to do other tasks that generate greater value for our clients.”

Maria Mager
Financial Analysis & Reporting Manager, Buchanan, Ingersoll & Rooney PC (US)

Since 1850, Buchanon, Ingersoll & Rooney has built a strong reputation by providing legal excellence, exceptional client service and sound judgement. The firm’s previous financial management solution slowed down its operations with consistent delays and system crashes. That’s when the team decided it was time for a change. Since adopting Advanced Financial Solutions, Buchanan, Ingersoll & Rooney PC has seen a significant improvement in its budgeting and forecasting efforts.

 

Learn how your firm can benefit from clear financial data today

Schedule a free 30-minute demo of Advanced Financial Solutions now