KMSFeedback Example DEC 2015
- 1. KMS FEE-EARNER FEEDBACK REPORT™ FOR MONTH AND YTD Sample Lawyer DECEMBER 2015 FIRM LOGO HERE Associate Team member 232 photo here MONTH YTD Worked 15.5 116.5 Available 21.0 129.0 Any Leave 5.5 12.5 Your WorkPlan™ and Ac0vity Capture WorkPlan™ Actual 1 Potentially Chargeable ClientTime 6.00 6.23 104% Non-Chargeable ClientTime Total Client Time 6.00 6.23 FirmTime 1.60 2.66 167% TOTAL 7.60 8.89 117% 2 Your WorkPlan™ current standard or blended hourly rate is: $300 3 Average rate of your ClientTime recording this month: $311 Average for the last six months $314 WorkPlan™ Actual 4 Your YTD WIP for 117 days worked $209,700 $262,864 5 Per day $456 Annually $105,871 7 Your YTD Raw WIP of $262,864 was created in 116.5 days... At this rate in a full 232 days you would create around $523,471 8 $504,972 from the Raw WIP you created during this financial year. 9 1 This month you created new Raw WIP of 108% $30,029 $30,029 is 16 days @ 104% Client Time 2 Target new WIP from your WorkPlan™ given you worked 16 days $27,900 3 Surplus (Shortfall) this month $2,129 4 Compare WIP Target in an Average Month for you (19.33) days $34,800 5 $40,506 6 Such Work In Progress last month was: $42,289 7 The above comparison represents an increase/(decrease) of: ($1,783) 8 Your own (TimeKeeper) unbilled WIP is: $19,834 9 Such Work In Progress last month was: $21,298 10 Increase/(decrease) during the month ($1,464) 11 It takes you this number of days to bill your W.I.P. on avge. 21.23 12 Your WIP Realisation Rate This Month 101% 13 Your WIP Realisation Rate YTD 96% 14 Your KMSWorkPlan™ Realisation Rate goal currently 100% N.B. Realisation Rate is the % of your own Raw W.I.P. absorbed that actually got into a bill...Any shortfall had to be written off...surplus is write-up 15 Your net absorbed WIP this month was $31,493 16 This resulted in shares of fees allocated to you of: $31,777 100.90% Projected forward it is:6 Your own 2015-2016 Business Days at 5 days per week will be Business days you submitted activity entries…"Worked" Your average total time input per day this month was: WORK IN PROGRESS Matter Manager Work In Progress at month end amounted to: (anyone's W.I.P. in matters under your control) YTD the value of your surplus (or shortfall in brackets) of ClientTime input compared to WorkPlan™ target is: $53,164 If you continue to realise absorbed WIP at your current average of 96%, you will at some point bill about By comparison your WorkPlan™ potential for creation of collectable WIP is $417,600 Rob Knowsley KMS COMMENTS: The annual projection based on first six months is of course still looking very good... Excellent new Raw WIP again thanks...days worked here are rounded up...average value is a little above the standard rate of your WorkPlan which is a nice "bonus"... Realisation Rate on the WIP absorbed is holding up very well thanks...Month 101%... YTD...96%... 0 5 10 15 20 25 $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Unbilled Work In Progress with Days Outstanding MaAer Manager Timekeeper WIP days 0% 20% 40% 60% 80% 100% 120% Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Realisa0on Rate on your own absorbed WIP Created Target $-‐ $200,000 $400,000 $600,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec WIP Created YTD v. Target YTD since TBA Actual Target Hi XXXX... Happy New Year! Strong short month in December thanks with good ClientTime despite FirmTime being about 10 units a day up on your WorkPlan... New Raw WIP creation remains well ahead of WorkPlan YTD thanks... Cheers Rob Knowsley KMS 17 19 20 21 15 19 20 23 20 18 22 16 15.5 0 2 4 6 8 10 12 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Time/WorkPlan™ Ac0vity Recording Actual Client Actual Firm Actual Total Target Client Target Firm Target Total Rob Knowsley KMS robk@lawfirmprofit.com Fax: 61 2 6337 5000
- 2. KMS FEE-EARNER FEEDBACK REPORT™ FOR Sample Lawyer DECEMBER 2015 Page 2 1 This Month $179,627 2 Last Month $146,827 3 The average time it takes to collect what you bill is: 159.24 Days 4 Your Debtors aging position at the end of the month compared to last month was as follows: 90-120 60-90 30-60 CURRENT-30 TOTAL This Month ($34) $4,988 $91,670 $83,003 $179,627 Last Month ($34) $3,750 $40,951 $102,158 $146,827 % reduced by age grouping 101% 88% 10% 1 2 Such Disbursements last month were: $3,669 3 The above comparison represents an increase/(decrease) of: $642 N.B. This reflects only the results of absorbed ClientTime WIP you recorded as per your WorkPlan™ Month YTD 1 Your Fees Target this Month $34,800 $213,771 2 Your efforts reflected in Bills this month: $31,777 $252,558 3 Surplus/(Shortfall) ($3,023) $38,786 4 % of Budget 91% 118% 5 Average billings per month YTD so far $42,093 6 Cash Received for your bills $15,758 $234,462 Jul $38,114 Aug $34,800 Sep $34,800 Oct $36,457 Nov $34,800 Dec $34,800 Jan $31,486 Feb $34,800 Mar $33,143 Apr $33,143 May $36,457 Jun $34,800 $417,600 Top 2 Fees Written This Month NA DEBTORS Person Responsible basis DISBURSEMENTS Person Responsible basis ANNUAL FEE BUDGET FEES SHARES ALLOCATED TO YOU $4,311 From your End-of-Month Trial Balance the total outstanding accounts in matters which appear to be under your control are: Unbilled Disbursements at month end (in matters under your control) amounted to Rob Knowsley KMS COMMENTS: Very good fee result YTD continues thanks XXXX! Rob Knowsley KMS COMMENTS: (DEBTORS & UNBILLED DISB) Based on December collection results we can hope this mostly gets collected in January... $-‐ $5,000 $10,000 $15,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Unbilled Actual Disbursements $-‐ $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Fees Rendered YTD v. Target Actual Target $-‐ $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Fees Rendered for month Actual Target 0.0 50.0 100.0 150.0 200.0 0 50,000 100,000 150,000 200,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Debtors with Days Outstanding Above 60 days 30-‐60 CURRENT-‐30 DAYS
- 3. KMS FEE-EARNER FEEDBACK REPORT™ FOR Sample Lawyer DECEMBER 2015 Page 3 Actual WorkPlan Estimate Actual WorkPlan Estimate Administraton/Matter Management 1.8 0.8 11.6 5.8 Current client meeting/entertainment 5.7 0.0 24.1 0.0 Continuing Professional Development 0.0 1.1 3.4 8.2 Debt Collection/Credit Control 0.0 0.0 0.0 0.0 Delegation 0.0 1.2 3.5 8.7 Director/Company Activity 0.0 0.0 0.0 0.0 Engagement Management 0.6 0.0 0.9 0.0 Firm's Legal Matters 0.0 0.0 0.0 0.0 Law Society 0.0 0.5 0.0 3.5 Management 0.0 0.0 0.0 0.0 Marketing 0.0 2.8 1.3 21.0 Staff Management/Mentoring 3.2 0.8 13.5 5.8 Miscellaneous 1.6 0.8 20.3 5.8 Travelling (marketing) 0.0 8.8 10.0 66.4 Phone contact and canvassing with current clients 0.0 0.0 0.0 0.0 Potential client meeting/entertainment 0.0 0.0 0.5 0.0 Periodic client reporting 0.0 0.4 5.4 2.9 Planning marketing 1.6 3.6 17.0 26.8 Phone contact and canvassing with potential clients 0.0 0.0 0.0 0.0 Practice Development 0.0 0.0 2.6 0.0 Precedents/Knowledge 1.0 0.3 2.6 2.3 Pro Bono 0.0 0.0 0.0 0.0 Attend prospect enquiry 0.0 0.8 0.0 5.8 Research non-chargeable 0.0 0.0 0.4 0.0 Secretarial 0.0 0.0 0.4 0.0 Writing proposals and tenders (including emails) 0.0 0.0 0.5 0.0 Training-Giving (where not CPD) 0.0 0.8 13.4 5.8 Team Meeting 2.8 1.6 24.8 11.7 Travel non-chargeable 23.0 0.0 74.0 0.0 Training-Receiving (where not CPD) 0.0 0.8 13.0 5.8 TOTAL 41.3 24.8 0.0 243.2 186.4 This month hours 41.30 0.00 Disparity between above total and P/Mgmt system total of zero-rated time MONTH YTD Files opened in your name this month 1 25 Fee Estimates Entered to PMgmt system $34,800 0% $0 0% $34,800 $208,800 Total files you currently have open This Month 68 Last Month 75 FILES OPENED Files Fees Estimated Files Fees Estim Administration 0 0 Agency 0 0 Federal Workers 0 24 $240,000 State Workers 1 $6,000 1 $6,000 Major Retainer 0 0 Workers Comp 0 0 1 25 TRUE TRUE TRUE TRUE Potential Funds locked up in files you manage ("Lockup") Current Month $179,627 $40,506 $4,311 $224,444 $200,000 $24,444 Last Month $146,827 $42,289 $3,669 $192,785 $200,000 ($7,216) FIRMTIME USE Compare Raw/STD WIP target for an avge mth BUSINESS DEVELOPMENT/FILE OPENINGS YOUR LOCKUP OF THE FIRM'S WORKING CAPITAL KMS Lockup Goal YTD YTDMONTH Month Current Excess Lockup Total Lockup MANAGER Unbd Disbs MANAGER W.I.P.MANAGER DEBTORS $-‐ $50,000 $100,000 $150,000 $200,000 $250,000 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total Lockup Actual Goal Rob Knowsley KMS COMMENTS: Here's to a great year XXXX in 2016! Excellent first half of the Financial year thanks again! Cheers... Rob Knowsley KMS 11/01/16