WIP Analytics

  • ZEBRALC’s RAMI ANALYTICS

    THE WHY

    One of the key challenges facing law firms is the ability get behind the risk, value and cash flow timeline of WIP. Firms can claim to have leading case management software, but many find it hard to get a detailed view of WIP to enable predictive insight into cash flow, disbursement spend and on-going value of WIP.

    THE HOW

    ZebraLC has developed the use of RAMI analytics – a WIP risk analysis and financial forecasting tool. Our RAMI analytics is successfully used in bank refinance, M&A, diagnostics and business improvement projects in personal injury, clinical negligence and industrial disease as well as other non continent areas of practice.

    Using ZebraLC’s industry recognised ‘red, amber, green’ risk rated approach to WIP asset valuation, RAMI analytics can be implemented across any case management system including Proclaim.

    THE SOLUTION

    The solution is to get to real time data, enabling caseloads/matters to be tracked via prospects, quantum, indemnity risk, disbursement requirement, complexity, costs outcome and predictive timescales.

    WIP Analytics using RAMI*

  • THE CASE STUDY

    WIP Visibility

    • ♦ RBS bank refinance project for PI firm £22m+ T/O

    • ♦ RAMI analytics introduced by ZebraLC

    • ♦ Firm underwent a RAMI training programme using our Red Amber Green rating system

    • ♦ Firm used its own case management system for RAMI data completion by fee earners

    • ♦ Data now entered across all personal injury, NIHL and clinical negligence

    • ♦ Clear visibility of WIP risk, value and financial forecasting

    • ♦ Audit of the firm’s use of RAMI analytics to ensure veracity of data

    Key performance indicators

    • √ Live view of WIP profile

    • √ WIP valuation at case level

    • √ Slow moving WIP identified and therefore managed

    • √ Indemnity risks highlighted, and therefore managed

    • √ Reports promote proactive management of cases and departments

    • √ Discontinued files purged, ensuring faster disbursement recovery

    • √ Visibility of working capital demand from disbursements

    • √ Closer view of pipeline WIP and estimated future fees

    • √ Live view of cash flow pipeline

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