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Practically Applying Business Intelligence
With more than 38,000 open matters at any given time, summarizing and analyzing practice, client and attorney information was nearly impossible to do efficiently using manual process and flat reporting. We did our best to create reports (eg, work in process (WIP), realization (amount collected as compared against amount worked/billed) and performance) using available technologies, including our time and billing system (Elite), Excel, Access and custom reports. However, we were eager to find a way to conduct more sophisticated analysis. We knew the questions that we wanted answered, but had been unable to get at the information in a usable format. For example, we could get general reports about aging accounts receivable (A/R), but we weren't able to assess real performance as it related to each client's historic payment pattern. If our firm averages a 75-day turn around on receivables and Client A has invoices 60 days old and Client B's are 90-days out, is that good or bad? We needed more detail than we could get from our transaction-based systems in order to answer these types of questions.
We decided it was time to implement reporting-based business intelligence (BI) software. Essentially, BI software sorts through vast amounts of firm data (from disparate sources such as time and billing, general ledger, payroll, etc.), automating the number crunching and analysis to provide us with actionable information and a more focused approach to following up on that information. Over a 1-year period, we reviewed software and services from four vendors, including our accounting system vendor and third party providers.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Compliance Officers: Recent Regulatory Guidance and Enforcement Actions and Mitigating the Risk of Personal Liability
This article explores legal developments over the past year that may impact compliance officer personal liability.