Case Study: Hahn Loeser + Parks, LLP achieves faster, accurate financial reporting and improved profitability with Thomson Reuters Elite's Enterprise Reporting & Analytics Foundation (RAF)

Enterprise Reporting and Analytics Foundation: Unexpected Benefits Enhance Firm Performance

Hahn Loeser + Parks is a rapidly growing full‑service law firm (about 150 fee earners across five offices) that had outgrown a DOS-based accounting system and relied on labor‑intensive, error‑prone spreadsheet processes for month‑end reporting and KPI analysis. Senior management needed accurate, timely financial data to speed the monthly close, analyze lawyer and matter profitability, and meet complex client invoicing requirements.

The firm implemented Thomson Reuters’ Enterprise Reporting and Analytics Foundation (RAF) with Timekeeper Costing and Business Objects integration, building a nightly‑updated data warehouse and automating previously manual reports. The change cut month‑end reporting from four days to roughly 2.5 hours, eliminated duplicate‑data issues, improved collectable billing (from ~55% to about 70%), reduced accounts receivable and WIP age, enhanced profitability visibility, and enabled automated client and HR reporting and better marketing ROI analysis.

Hahn Loeser + Parks, LLP

Karen Buckland

Application/Reporting Specialist