Redwood Business Intelligence

Redwood Analytics

Redwood Business Intelligence combines the powers of analysis and reporting to help managers and finance staff identify issues, isolate business drivers, solve problems, and improve the bottom line. Our platform is more than a software shell that companies must populate themselves. The software has built-in best practices content, derived from business models that have been refined through the study of firm management for more than five years.

We can configure the BI series to meet your individual business needs, so that your organization can focus on specific goals—such as improving realizations on Work In Progress (WIP) and Accounts Receivable (AR), or gaining better understanding of fee write-offs. Our software allows your business to analyze impacts at the matter level and to use your own billing and collections performance history to accurately predict future realization rates.

Benefits

• Content. Combines the most sophisticated metrics, business rules, and analytics to cover the full breadth of your analysis needs. Specific content unavailable elsewhere includes: tracking work value to collections and back again, collection modeling by client, forward realization, and actual ages and speeds across all intersections of the business. Also includes realization, utilization, pricing, speed, leverage, and other profitability drivers, as well as import/export analysis by office and practice.
• Cost/benefit. Creates actionable information to support improvements to billing and collection, intake, business development, and other processes without cost overruns.
• Accessible user interface. Translates complex financial methodologies into understandable business terms(e.g., realization, collections). The framework allows users without technical experience to readily manipulate data and perform calculations.
• Leveragse analytic ability of finance professionals. Finance professionals can focus on interpreting analysis and implementing change instead of generating, aggregating, and managing internal reports.
• Faster and more accurate reporting . Analytics are only useful if they are accessible. Position the finance department to deliver actionable output within minutes instead of weeks.
• Implementation speed. The platform is designed to be built with configurations to go live within 45 days.
• Sophisticated analysis. Combining ease of use with analytical sophistication, the platform does not limit users to specific subsets of information, but allows them to drill deep within the data warehouse to find answers with greater detail.
• Data integration. The data warehouse seamlessly integrates with common applications such as Elite and other billing systems, ADP and other payroll services, collections applications, as well as data sources such as spreadsheets and databases. Provides the layers of data underneath the spreadsheets to back up assumptions and decisions.
• Technology leadership. Utilizes Cognos, the leading performance management software, to deliver its business intelligence solutions.
• Configured capabilities . Configured to suit the specific needs of each firm. Each multidimensional modeling cube is created to analyze the variables most important to your organization.
• Communicate with multiple audiences . Users from practice group leaders to finance and marketing staff can access the platform. The software meets the needs and styles of different audiences, and provides a smooth transition from beginner to more sophisticated interfaces.

Features

• Combines an extensive data warehouse—which provides best-practice content using data drawn from standard time and billing, general ledger, payroll, collections management, and other applications—with best-in-class corporate performance management software, such as our browser-based, end-user interface that allows non-IT professionals to easily create production quality reports in Microsoft Reporting Services.
• Built with the your business needs in mind, the platform lets you customize the methodologies, data sources, and output to best fit your firm’s unique requirements.
• With a fresh understanding of the key drivers underlying business performance, management can make better decisions at both strategic and tactical levels.
• Redwood’s team of analytic and development consultants maximize your investments by translating your needs into deployed, process-changing, results-driven solutions.
• A nice tool complement to Redwood BI is a report distribution solution, which utilizes Randy Steere LLC’s ReportManager product. It allows any report, created using any reporting tool, to be burst and distributed via email, an Intranet, or the Redwood Dashboard.

Architecture

The Redwood analytic platform leverages Cognos software. In evaluating which tool to use, we found Cognos had the technology to provide true OLAP functionality, which allows users to “slice and dice” through their data with ease. In addition, the cubes can be separated from the data warehouse, so they are portable and can be carried around on a laptop.

Availability

For more information about Redwood Analytics, visit www.redwoodanalytics.com or contact our Sales department at 877-327-7060.

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