New matter profitability functionality is now available in RedView Acuity, helping firms better understand which matters are performing well financially and which may be underperforming.
The new analysis compares the value of hours recorded against a matter with the fees actually billed, providing a simple profitability percentage for each matter.
Key functionality:
New Standard Charge Rate field against each staff member
Automatic calculation of:
Billable Hours
Non-Billable Hours
Total Hours
Standard Value of time recorded
Matter Profitability percentage
Profitability is calculated by comparing fees billed against the standard value of all recorded time
Standard Value is based on each staff member’s standard charge rate, with fallback to the firm’s blended charge-out rate where required
New matter-level panels added to the Financials tab for quick visibility
New columns available in the Matter Summary List, including support for grouping and totals
This enhancement gives firms greater visibility into matter performance, helping identify high-performing fixed fee matters, low-margin work, and opportunities to improve pricing and profitability.
An example of the type of matter profitability analysis that can be performed now is shown below.
The RedView Team