lexveritas insights tool logo

Introducing the Insights Tool

Firms produce significant amounts of data however most struggle to realise its value. The Insights Tool helps decision-makers turn information into action.

‘Insights’ combines integration, and innovation to deliver a world-class, business intelligence solution that allows you to break the traditional legal reporting cycles by automating the delivery of accurate and timely reports, presented through interactive and simple visualisations.

Enabling your Firm to easily make Data-Driven Decisions

One of the key functions of a finance team is to relay timely information to the firm’s decision makers. The reality is, reports are often distributed in weeks, not days, and are presented in formats that don’t facilitate self-service of information.

Insights removes the time, cost, and complexity barriers that prevent firms from pursuing reporting innovation. LexVeritas has built a proprietary solution that extracts data from Practice Evolve, normalises it, and then overlays it with the Microsoft Power BI visualisation tool. This allows firms to quickly analyse huge data sets and drill down into items that require further attention.

LexInsights Explained

Available in 3 Tiers

There are 3 different tiers of the Insights Tool, that specifically address the needs of their audience.

Key Features of the Insights Tool

  • Fee Analysis

    Providing you instant visibility into teams, individuals, and clients that are generating revenue

  • Debtor Management

    Timely information that provides focus on debtor issues

  • Staff Productivity and Utilisation

    Understanding where time is being spent helps you focus on value creation activities

  • File Opening and Current Matter Reporting

    As a leading indicator of fees it is essential to understand the pipeline of work

  • Disbursement Management

    Helping to improve your working capital cycle by ensuring you bill clients for out-of-pocket disbursements promptly

  • End of Month Financial Reporting

    Your financial performance and position available at the click of a button

  • Trust Balances

    Ensure you have visibility into your trust account and that you remain compliant.

fast implementation timeline icon
onboarding and training icon
customisation timeline icon
fast implementation timeline icon

Fast Implementation
Process, with Zero Downtime

The implementation of the Insights Tool can be completed within two weeks and there is zero downtime for your firm. Our team will work directly with your inhouse IT department or 3rd party IT provider to facilitate the necessary connections to your Practice Evolve database.

onboarding and training icon

Onboarding and Training
for Your Team Included

Once we have completed the implementation, our team will facilitate a training and handover session to ensure you have the necessary skills to get the most out of your firm’s Insights Tool.

customisation timeline icon

Customisation Available

Our standard reporting suite can be extended and customised to meet the specific needs of your firm. Please contact the LexVeritas team to scope any additional reporting requirements. These will be billed on a time and materials basis.

Turn Information into Action

Our goal with LexInsights is to provide a comprehensive analytical breakdown through our insights tools that can be efficiently and effectively enacted for your firm. Our innovation and integration development provides an Australian leading business intelligence solution for legal firms.

Our expertly automated reporting systems provides you with the information you need and in the time you want and in the matter you prefer. For any further information please don’t hesitate to reach out to our team and we’d be happy to help you. 

Book A Demo

I am interested in the Insights Tool

To have a LexVeritas representative contact you to organise a demo of the Insights Tool, please complete the form below.

Download More Information​

LexTalent

We pride ourselves on our ethical and transformational approach to talent management, and seek to elevate the practice of talent management in the legal industry by using systems and processes that promote best practice, while adhering to the regulatory code of conduct.

Technology is key to our point-of-difference; we combine the knowledge of our own experienced talent experts together with market leading artificial intelligence talent technology to source and place the right candidate with the right role.

We have formed strong and meaningful partnerships with law firms and their leaders, and strive to ensure the long-term success of candidates, both for themselves in their career, and for their employers. We are not interested in merely a transactional relationship and our pricing structure reflects this.

Personnel Administration

Administration is a word we all love to hate. Unfortunately, though, change is inevitable in a business, and when changes arise, they need to be dealt with in a swift and timely manner.

To aid the adjustment process, we offer employee services through our partner platform, Employment Hero. This platform gives your staff direct access to leave requests, salary adjustments, payslips, and more, leaving you with final decisions – not the administrative processes along the way. 

Transactional Accounting

Our transactional accounting team is staffed by legal bookkeepers that have extensive experience in the nuances of law firm accounting. This service offering is focused on the following key activities:

  • Accounts payable, including the processing and payment of matter related disbursements. Our team processes your supplier invoices and sets up payments to ensure your vendors are paid on time and your firm can focus on the legal matters at hand.
  • Our accounts receivable team monitors your firms bank account to ensure your client payments are allocated correctly and that your firm is receiving regular information in relation to your cash position.
  • Our general ledger team performs daily bank reconciliations on your general account as well as all your end of month journal entries.


Our focus is to enter data once, correctly, and use automation relentlessly.

Compliance Services

With an ever-increasing regulatory landscape our compliance services team ensures that your firm is meeting its compliance obligations in the following areas:

  • Lodgement of Business Activity Statements
  • Income Tax returns
  • Fringe Benefit Tax
  • Audited Financial Statements
  • ASIC Lodgements
  • Single Touch payroll
  • Payroll tax
  • Superannuation payments.

Financial Planning and Analysis

The competitive landscape that law firms operate in is constantly evolving. These changes can have a significant impact on the financial performance of a firm. As a law firm leader, you need to understand your numbers so that you are in a position of strength to be able to capitalise on opportunity or navigate challenges and risk.

Our analysts in our Financial Planning & Analysis (FP&A) team can assist you with the following:

  • M&A analysis
  • Due diligence
  • Budget preparation
  • Scenario planning
  • Cashflow analysis
  • Statutory and compliance reporting
  • Client reporting
  • Monthly director reporting
  • Implementing Microsoft Power BI

Credit Card & Travel

We understand that operating in a professional services environment requires your people to be on the move. We have partnered with Uber for Business and CT Connections to provide a land and air travel program that leverages our combined purchasing power to get more competitive rates on hotels and airfares.

We know that reconciling credit card transactions following a business trip can be laborious and time consuming. We have partnered with Serko, a best-in-class expense management platform, to significantly reduce the manual effort required in this process. Let LexVeritas do the time-consuming work for you!

Payroll

Within a professional services environment your people are your greatest asset. It is therefore imperative they are paid appropriately and have access to a best-in-class rewards and benefits platform. By utilising our payroll service, you will ensure your staff have access to a dedicated payroll team to answer any payroll related questions. Our payroll team focus on:

  • Onboarding new hires
  • Offboarding terminated employees
  • Processing of pay events per your firms’ policy
  • Single Touch Payroll event and finalisation reporting
  • Payroll tax compliance
  • PAYG withholding and remittance
  • Superannuation Guarantee management
  • Salary sacrificing, including novated leases.
  • Employee expense claim management
  • Expert knowledge of the Legal Services Award

We have partnered with Employment Hero as our payroll and HR technology provider.

Workforce Planning

Planning your workforce is an essential part of safeguarding your firm into the future.

With our team, you will have access to dedicated People & Culture professionals who will assist you in identifying and meeting your future workforce requirements.

We make it our business to understand your business, to be able to provide you with the most appropriate services suited to your organisation, helping map out your staff and help you identify business critical talent you need to acquire, develop and nurture.

Employee On-boarding

Identifying a candidate can seem like a long process, but this is just the beginning.

Employee onboarding starts from the moment a decision is made on who to hire. This includes everything from issuing offers of employment to deploying all relevant induction materials.

Induction consists of a series of short online videos and compliance training, specific to your firm. These are available completely online, making it accessible to anyone, anywhere.

In the background we organise your new employee’s access to all systems and resources they require, for them to commence work on day one, and commence billing on day one.

Learning & Development

Part of developing your workforce is to ensure all staff members continue to learn and develop within your organisation.

We will work with your firm to develop materials to keep staff up to date on their technical skills and ensure they meet their ongoing compliance requirements.

Our Learning Management System (LMS) consists of a database with over a thousand development and compliance videos on a large range of topics.  We will develop a package suite to your organisation. We will further monitor compliance with regards to mandatory training and provide feedback to your leaders and managers.

Legal Automation

Legal automation is the use of software to automate the manual tasks that lawyers carry out in the course of their role.

The lawyer’s role can be seen as a mixture of advice – applying their knowledge and judgement to a given scenario – and of process, taking on the routine tasks (often around paperwork) that are necessary to fulfil legal requirements in a robust and compliant way.

Legal automation is aimed mainly at the process part of a lawyer’s job. Legal automation exists to free up lawyers’ time from low-value process work and enable them to focus on more important tasks.

Performance Management

Business success is a direct result of managing your business’ performance.

We will assist your organisation in an annual review process to ensure leaders, managers and staff are meeting to discuss performance and the impact on the firm. We will assist you identify excellent performers, to create a plan on how to further develop them, keep them engaged and incentivised.

We are experienced in managing staff performance, good or poor, and we will work with you to enhance your business performance through ensuring your staff’s performance is aligned with your firm’s goals. You can engage our staff on more sensitive matters when there is a need to establish performance improvement plans for any of your staff members.

Salary bench-marking

Securing top talent is crucial to a firm.

We will assist in salary benchmarking to make sure you are competing appropriately in the marketplace. We will be able to advise you on comprehensive remuneration packages, including incentives schemes and bonus structures.

Managed IT Support & Services

Our experienced Service Desk team are here to ensure that your team has an optimised technology experience. From managing user accounts, installing new software applications and troubleshooting issues, we are here to help.

Network, Data Centre & Cloud

We work to take the complexity out of implementing and operating the IT infrastructure that underpins the productivity of your workforce. Our Infrastructure team are focused on delivering high-quality service – robust, resilient and reliable.

End-User Computing

Optimise your technology fleet with Lexveritas’ End User Computing services. We help to manage the lifecycle of your computing hardware and mobile device fleet. From managing user accounts, installing new software applications and troubleshooting issues, we are here to help.

Security Management

Information security is an increasing concern in today’s globally digital environment. With so much personal and commercial information stored online or on a computer, it opens us up to different avenues of cyber-attack.

We partner with leaders in the IT security space to ensure your firm is locked down from any attempts to infiltrate its systems. We also provide training to staff to minimise risk in both their work and personal lives.

Strategic IT Road Map Development

In a world of rapidly advancing legal technologies, the firms that thrive will be those that align their strategic ambitions to their technology road-map. Our team has the experience and capability to help your firm realise its strategic goals by planning, designing and executing an aligned road-map.

Outsourced CFO

Our outsourced CFO service is designed exclusively for mid-tier and boutique law firms that require strategic financial advice and oversight however aren’t of the size to justify a full-time headcount. We offer flexible packages so you can leverage this expertise without the price tag of a full-time employee.

Our outsourced CFOs can assist with:

  • Profit maximisation strategies
  • Budget preparation
  • Cashflow modelling
  • Business Process Re-engineering
  • Control environment improvement
  • Management reporting
  • Financial gap analysis
  • Risk mitigation
  • Fundraising
  • Forecasting analysis
  • Scenario planning
  • Accounting and audit support
  • Firm valuations
  • Firm analysis and cost control
  • Working capital improvements

We have extensive law firm experience and have become a trusted advisor to our clients.