Legal Solutions | USA
Peer Monitor Overview (2:14)
What are your firm's needs? Grow your lawyers’ billing rates? Consider a new office location or practice group? Research compensation trends when hiring laterals? Increase your firm's efficiency?
Peer Monitor provides the breadth and depth of information to help you make informed decisions.
A monthly automated process updates benchmarking and performance data from over 200 participating firms’ financial management systems, ensuring that you have current and real data to support strategic planning.
Compare your firm to peer groups that you select, using over 60 profitability metrics. Looking for a certain job title, location, or practice? Peer Monitor provides the flexibility to get the specific data you need.
Peer Monitor provides high-level trends and market analysis, all designed to keep you in tune with activity in the legal industry. Reports, webinars, and firm engagements help you stay informed about what’s taking place beyond your firm’s walls.
Peer Monitor provides quarterly, monthly, and custom reports to your law firm on a regular basis. Additionally, our Client Relationship team provides ongoing support, as though they were an extension of your staff.
Peer Monitor serves as our prime resource for competitive intelligence on key financial metrics. The ability to create custom peer groups on the fly paired with monthly refreshed data, allows a more focused approach on market intelligence throughout the year.
Troutman Sanders LLP
|Peer Monitor data||Survey-based data|
|Ease of participation||Automated data collection||Manually fill out surveys, losing hours or even days of productivity|
|Accuracy||Actual data exported from firms’ financial management systems||Depends on quality of survey responses|
|Data timeliness||Data is refreshed monthly, never more than 30 days old||Often 3+ months old, depending on frequency and lag time|
|Access to data||Query and sort to answer your questions, plus access to standard and custom reports||Static reports and data sets|
|Peer groups||Create your own peer groups from 200+ law firms||Predetermined. You don’t know who was selected. Often a poor fit|
In-depth metrics to help you maintain your edge in today’s competitive market
Select relevant practice groups, offices, timekeeper titles, and years of experienceClose
Over 60 profitability metrics including demand, rates, productivity and expensesClose
36 months of data, with current data no more than one month oldClose
Compare your firm against one or more peer groups you selectClose
Peer Monitor offers additional reporting and benchmarking tools that go deeper into areas of interest to law firms, along with consulting and implementation services to help you get the most from Peer Monitor.
Download your free copy of the 2018 Report on the State of the Legal Market. The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute are pleased to present this 2018 report setting out our views of the dominant trends impacting the legal market in 2017 and key issues likely to influence the market in 2018 and beyond.
- Quarterly legal industry report
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