This milestone comes one year after Iridium became part of BigHand and signifies an important step in shaping the future of financial productivity in the legal industry.
BigHand Business Intelligence - powered by Iridium is an advanced law firm BI solution with role-based reporting that delivers the right financial data to the right person via intuitive dashboards, enabling firms to make informed decisions and drive profitability.
With role-based access, BigHand's Business Intelligence allows firms to tailor their dashboards to the specific needs of each user. Automated reporting at the firm and individual level empowers users to track key metrics such as fees, timekeeping, collections, and profitability, ensuring they stay on target.
Recognizing the increasing importance of near real-time financial data accessibility, Business Intelligence boasts an all-in-one module solution. This innovative approach allows analysts and reporting teams to gain insights quickly and accurately into the firms operational and financial performance.
Tom Jones, Managing Director of Financial Productivity, commented, " Since the launch of Iridium BI twelve years ago, our primary focus has been on creating a roadmap that is driven by the latest technology and our expert knowledge of the legal industry. This roadmap aims to assist our clients in obtaining valuable insights regarding their firm's financial performance. After becoming part of the BigHand family one year ago, our shared objective has been to develop the next generation of our BI solution.”
The development of this advanced software solution is supported by BigHand’s recent industry research, 68% of firms plan to introduce an advanced legal BI system over the next two years. As the industry faces a looming recession, it has become crucial for lawyers to have a comprehensive understanding of the law firm’s financial metrics to remain profitable and meet client demands for transparency.
This development represents a significant milestone in the evolution of financial productivity in the legal industry. With its advanced features and comprehensive reporting capabilities, the software revolutionizes the way law firms make decisions around their financial performance.
