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Stoel Rives to extend BigHand relationship with roll out of Pricing & Profitability tool

Am Law 200 Stoel Rives is looking to expand on its engagement with BigHand with the rollout of BigHand Pricing and Profitability (previously known as Evaluate).

The Oregon-headquartered firm has for the past three years used BigHand Business Intelligence (previously known as Quantum), which it says in a case study released today (8 June), stood the firm in good stead when the pandemic hit.

BigHand BI provides real time visibility of a firm’s financial data – with dashboards tailored for lawyers, finance and management teams.

Cecy Graf, chief financial officer at Stoel Rives, said: “Providing client value is the external driver we are always striving towards, but without the internal KPIs to measure ourselves and ensure that we’re making the most effective use of our time and resources, it’s very difficult to quantify success – and hence a challenge to relay that to our clients.”

She added: “This isn’t about doing things differently; it’s about making informed decisions on how we’re pricing and staffing our matters. It’s also about continuous learning. If there’s something that has been successful, can we replicate that? If something has been less than successful, what can we learn from it and adapt to create success in the future?”

The firm is now looking to extend its capability with the roll out of BigHand Pricing and Profitability, which is a practice management system integrated budgeting, pricing and tracking tool. Graf says: “Our intent is to have a pricing tool that supports the matter margin framework, so that from start to finish we have consistent metrics and messaging on the things that drive margin.”

For the full case study copy, see: https://www.bighand.com/en-gb/resources/case-studies/stoel-rives-driving-a-culture-of-financial-productivity-and-high-performance-with-bighand-business-intelligence/