BigHand Impact Analytics

BigHand Impact Analytics is a data-driven solution offered by BigHand that aims to assist law firms and corporate legal departments in uncovering valuable insights and demonstrating the benefits of their legal services. The product focuses on analyzing billing information, Diversity, Equity, and Inclusion (DEI) data, and lawyer resourcing. According to the vendor, this AI-enabled timecard analysis tool can help firms identify opportunities for career advancement, support DEI initiatives, and improve time recording practices. BigHand Impact Analytics is designed to cater to law firms and corporate legal departments of various sizes, providing them with tools to enhance client services, manage costs, strengthen relationships, and maximize return on investment.

Key Features

Consistent Coding Accuracy: According to the vendor, Impact Analytics technology ensures reliable and consistent coding of legal work, providing valuable insights for pricing, project management, and DEI reporting.

Optional UTBMS+ Granularity: The vendor claims that customers can gain a deeper understanding of unit costs at the activity level, allowing them to evaluate the efficiency, transparency, and profitability of their legal billing and DEI initiatives.

Flexible Data Visualization: The product allows users to easily use transformed data across different platforms, enabling them to export it for reporting to clients and key stakeholders.

Identifying Key Performance Indicators (KPIs): The vendor states that the product offers easy-to-use dashboards that facilitate the identification of areas for improvement across various teams, enabling data-centric conversations and driving necessary changes.

Improve Client Services: According to the vendor, the product empowers law firm professionals to effectively communicate the firm's value story to clients, providing strategic guidance on pricing, Legal Project Management (LPM), Resource Management (RM), and DEI.

Identify Areas for Improvement: The product offers in-depth analysis and review of key matters with industry experts, providing recommendations and guidance on areas of improvement based on the firm's strategic needs, as claimed by the vendor.

Professional Development: The vendor claims that the product helps identify career advancing opportunities, promoting lawyer retention and maintaining a productive and satisfied staff.

Analyze Billing Data: The vendor states that the product utilizes AI-enabled timecard analytics to convert complex billing data into valuable insights, allowing users to identify the true cost, effort, and composition of a matter.

Monitor & Manage Costs: According to the vendor, the product enables firms to monitor and manage costs over time, ensuring profitability and meeting client demands for cost transparency.

Strengthen Communication: The product promotes communication and transparency between law firms and clients through features such as cost-over-time mapping, actual-to-budget tracking, dashboards, and collaboration, as claimed by the vendor.