Your Financial Dashboard

At the outset, it's important to establish some context for the subjects we cover in this article to maximize what you learn and minimize any stress brought on by the topics of performance analytics.

A financial dashboard for a law firm works on the exact same principle as the one in your vehicle. You don't drive your vehicle by watching it alone; rather, it helps you know how you are progressing in getting to your desired destination.

Law firm financial dashboards should focus management and partners on those key performance indicators (KPIs) that are critical to the success of the firm. Because we tend not to use that which we don't understand, the presentation of the information must be in a style—that combination of words, numbers and graphs/charts—that is most meaningful to the audience. As with a car dashboard, too many gauges simply distract and lessen their value—and warning lights may be ignored until it's too late.