EDZ Systems will soon offer clients a law firm compensation management system model through the EDZ Systems’ Intelligent Resource Management System, with law firm Rouse Frets White Goss acting as an early adopter of the product
EDZ Systems is now offering clients a one-of-a-kind law firm compensation management system model through the EDZ Systems’ Intelligent Resource Management System, with law firm Rouse Frets White Goss acting as an early adopter of the product.
Introduced in 2018, the EDZ Systems’ Intelligent Resource Management SystemTM (Intelligent RMSTM) is a business intelligence software solution that provides law firms a strategic platform to enable firm management the opportunity to access data from one, easy-to-use system, providing resource (timekeeper) management, client, case and matter management, docketing, reporting and dashboards, all while streamlining business development and improving practice efficiency.
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As a new feature of this IRMS system, the Compensation Management module will provide visibility and draw attention to direct and indirect attorney costs, developing a deeper understanding of what drives profit and overall financial success for firms. The module will provide analytics such as the analysis of pay equity, pay compared to fees collected, group pay/performance comparisons, and many other metrics. This new firm management compensation feature will be available in April 2021.
“The new Compensation Management feature of our Intelligent RMS™ (IRMS) system builds on the robust Resource Management module to provide real time insights into the compensation and performance of attorneys, paralegals, and staff,” said Elizabeth DeZeeuw, President and CEO of EDZ Systems.
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DeZeeuw added, “Compensation Management for law firms is generally an arduous manual and time-consuming process. IRMS automates this process and provides performance analytics, comparison groups, compensation worksheets, budget worksheets, compensation dashboards and reports, and much more. In short, the IRMS provides firm management with all the information needed to make intelligent decisions regarding firm compensation.”
“The leaders of today’s law firms face a more challenging environment during this pandemic-era than previous generations, and they are looking closely at how to bring better insights into firm profitability,” said Chuck Rouse, Managing Partner of Rouse Frets White Goss Gentile Rhodes. “As proud early users of this model, we can confirm that firms will be able to deliver capabilities to improve their bottom lines.”
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