Domo Partners with CARET Legal to Bring Real-Time Analytics to Firms’ Fingertips
Domo (Nasdaq: DOMO) has partnered with CARET Legal, a leading SaaS platform for legal professionals, to provide real-time analytics and a holistic view of law firm performance. This collaboration aims to empower thousands of law firms with immediate access to key insights on business health, including:
- Pre-bill amounts for future revenue forecasting
- Employee resource allocation for efficient staffing
- Clarity on aging receivables to streamline collections
The partnership also advances strategic operations by surfacing relevant data to improve budgeting, prioritize high-value cases, enhance client acquisition strategies, and optimize fee structures. Domo and CARET Legal plan to release new analytics functions for customizable data experiences across firms.
Domo (Nasdaq: DOMO) ha annunciato una collaborazione con CARET Legal, una delle principali piattaforme SaaS per professionisti legali, per fornire analisi in tempo reale e una visione complessiva delle performance degli studi legali. Questa collaborazione mira a fornire a migliaia di studi legali accesso immediato a informazioni chiave sulla salute aziendale, tra cui:
- Ammontare delle pre-fatture per previsioni di fatturato future
- Assegnazione delle risorse umane per una gestione efficiente del personale
- Chiarezza sui crediti in sofferenza per semplificare le incassi
La partnership avanza anche le operazioni strategiche attraverso l'emergere di dati rilevanti per migliorare il budgeting, dare priorità ai casi ad alto valore, ottimizzare le strategie di acquisizione dei clienti e affinare le strutture delle tariffe. Domo e CARET Legal prevedono di rilasciare nuove funzioni analitiche per esperienze di dati personalizzabili tra gli studi.
Domo (Nasdaq: DOMO) se ha asociado con CARET Legal, una plataforma SaaS líder para profesionales del derecho, para ofrecer análisis en tiempo real y una visión holística del rendimiento de los bufetes de abogados. Esta colaboración tiene como objetivo empoderar a miles de bufetes con acceso inmediato a información clave sobre la salud del negocio, incluyendo:
- Montos de pre-facturación para proyecciones de ingresos futuras
- Asignación de recursos humanos para una dotación de personal eficiente
- Claridad sobre cuentas por cobrar antiguas para agilizar las cobros
La asociación también avanza operaciones estratégicas al resaltar datos relevantes para mejorar la planificación presupuestaria, priorizar casos de alto valor, mejorar estrategias de adquisición de clientes y optimizar las estructuras de tarifas. Domo y CARET Legal planean lanzar nuevas funciones analíticas para experiencias de datos personalizables en los bufetes.
Domo (Nasdaq: DOMO)는 법률 전문가를 위한 선도적인 SaaS 플랫폼인 CARET Legal과 협력하여 실시간 분석 및 법률 사무소 성과에 대한 총체적인 관점을 제공하고자 합니다. 이 협력은 수천 개의 법률 사무소가 비즈니스 건강에 대한 핵심 인사이트에 즉각적으로 접근할 수 있도록 지원하는 것을 목표로 하며, 포함되는 내용은 다음과 같습니다:
- 미래 수익 예측을 위한 사전 청구 금액
- 효율적인 인력 배치를 위한 직원 자원 할당
- 징수를 간소화하기 위한 노후 채권에 대한 명확성
이번 파트너십은 또한 예산 책정을 개선하고, 고부가가치 사건에 우선 순위를 두고, 고객 확보 전략을 향상시키며, 수수료 구조를 최적화하기 위해 관련 데이터를 수집하여 전략적 운영을 발전시킵니다. Domo와 CARET Legal은 각 사무소에서 사용자 맞춤형 데이터 경험을 제공하는 새로운 분석 기능을 출시할 계획입니다.
Domo (Nasdaq: DOMO) s'est associé à CARET Legal, une plateforme SaaS leader pour les professionnels du droit, afin de fournir des analyses en temps réel et une vue d'ensemble des performances des cabinets d'avocats. Cette collaboration a pour objectif de donner aux milliers de cabinets d'avocats un accès immédiat à des informations clés sur la santé de l'entreprise, notamment :
- Montants des pré-factures pour les prévisions de revenus futurs
- Allocation des ressources humaines pour un personnel efficace
- Clarté sur les créances vieillissantes pour simplifier les encaissements
Le partenariat facilite également les opérations stratégiques en faisant ressortir des données pertinentes pour améliorer la budgétisation, prioriser les affaires à forte valeur, améliorer les stratégies d'acquisition de clients et optimiser les structures tarifaires. Domo et CARET Legal prévoient de lancer de nouvelles fonctions d'analyse pour des expériences de données personnalisables dans les cabinets.
Domo (Nasdaq: DOMO) hat sich mit CARET Legal, einer führenden SaaS-Plattform für Juristen, zusammengeschlossen, um Echtzeitanalysen und eine ganzheitliche Sicht auf die Leistung von Anwaltskanzleien bereitzustellen. Diese Zusammenarbeit zielt darauf ab, Tausenden von Anwaltskanzleien sofortigen Zugang zu wichtigen Erkenntnissen über die Unternehmensgesundheit zu ermöglichen, einschließlich:
- Vorabrechnungsbeträge zur Prognose zukünftiger Einnahmen
- Ressourcenzuteilung für effiziente Personalbesetzung
- Klarheit über ausstehende Forderungen zur Optimierung der Inkassoprozesse
Die Partnerschaft fördert auch strategische Abläufe, indem wichtige Daten aufgedeckt werden, um das Budget zu verbessern, wertvolle Fälle zu priorisieren, die Strategien zur Kundenakquise zu optimieren und die Gebührenstrukturen zu verfeinern. Domo und CARET Legal planen, neue Analysefunktionen für anpassbare Daten-Erlebnisse über Kanzleien hinweg bereitzustellen.
- Partnership with CARET Legal expands Domo's market reach in the legal sector
- Provides real-time analytics and insights for law firm performance
- Enables efficient data analysis and decision-making for CARET Legal's customers
- Potential for future revenue growth through new analytics functions
- None.
Insights
This partnership between Domo and CARET Legal marks a significant step in the digitalization of legal services. By integrating Domo's real-time analytics capabilities into CARET Legal's SaaS platform, law firms can now access critical business insights more efficiently. This collaboration addresses a key pain point in the legal industry: the time-consuming process of data analysis.
The implementation of Domo's technology could lead to improved operational efficiency and better financial management for law firms. Features like forecasting future revenue, optimizing resource allocation and streamlining collections are likely to have a positive impact on profitability. However, the true test will be in the adoption rate among CARET Legal's customers and the measurable improvements in their operations.
While this partnership shows promise, investors should monitor its impact on Domo's revenue and market share in the legal tech sector. The success of this venture could open doors to similar partnerships in other professional service industries, potentially expanding Domo's market reach.
From a financial perspective, this partnership has the potential to boost Domo's revenue streams, although the immediate impact may be The legal sector represents a niche market for Domo's analytics solutions, but it's a promising one given the data-intensive nature of legal work.
Investors should pay attention to several key metrics in upcoming quarters:
- Growth in Domo's customer base, particularly in the legal sector
- Increase in average revenue per user (ARPU) as law firms adopt more advanced analytics features
- Potential expansion into other professional services sectors using a similar partnership model
While this news is positive, it's important to note that the financial impact may take time to materialize. Domo's ability to scale this solution and replicate the partnership model in other industries will be important for long-term growth.
This partnership taps into a growing trend in the legal industry towards data-driven decision-making. The legal tech market is experiencing rapid growth, with a CAGR of
However, competition in this sector is intensifying. Major players like Thomson Reuters and LexisNexis are also offering analytics solutions for law firms. Domo's success will depend on its ability to differentiate its offering and provide superior user experience and actionable insights.
The partnership's focus on customizable data experiences for each employee is particularly noteworthy. This aligns with the trend towards personalization in enterprise software and could be a key differentiator. If successful, this approach could set a new standard in legal analytics, potentially giving Domo a competitive edge in the broader business intelligence market.
SILICON SLOPES,
“Running a successful law firm requires constant data analysis, but sifting through endless reports is time-consuming and overwhelming,” said Greg Reynolds, Chief Technology Officer at CARET Legal. “Domo helps us empower our customers to cut through the clutter and provide a clear picture of key information they need for their firms to run smoothly.”
CARET Legal relies on Domo’s platform to unlock real-time analytics for their customers, eliminating mountains of reports and hours of analysis so leadership can focus on meaningful action. Customers gain immediate access to key insights on the health of the business, such as pre-bill amounts to forecast future revenue, employee resource allocation for efficient staffing, clarity on aging receivables to streamline collections and more.
The partnership also advances strategic operations by surfacing the most relevant data to help improve budgeting, prioritize high-value cases, improve client acquisition strategies and optimize fee structures. Domo and CARET Legal are continuing to build on these offerings with new analytics functions to be released that will help provide customizable data experiences to each employee across firms.
“Transforming the way businesses operate and unlocking data for our customers is one of the most rewarding parts of my role,” said RJ Tracy, Domo’s Chief Revenue Officer. “CARET Legal’s customers are a prime example of showing how data-driven insights lead to more thoughtful business decisions, and with our partnership, we’re impacting the bottom line and the way firms operate.”
To learn more about how innovative organizations like CARET Legal are partnering with Domo to put data to work for everyone, visit www.domo.com/partners.
About CARET
CARET provides leading practice management and fintech platforms to thousands of legal firms across the world, empowering highly skilled professionals to refocus their expertise on what truly matters. CARET serves more midmarket law firms than any other provider through its portfolio of practice management platforms including AbacusLaw, Amicus Attorney, Amicus Cloud, and CARET Legal.
CARET Legal, the company’s award-winning SaaS platform, combines the power of automated legal workflows, robust matter management, insightful dashboards, seamless client communication tools, full legal accounting, integrated payment processing and more to enhance the business of law.
To learn more, visit CARETLegal.com
About Domo
Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.
For more information, visit www.domo.com. You can also follow Domo on LinkedIn, X and Facebook.
Domo is a registered trademark of Domo, Inc.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240912998744/en/
CARET Legal Contact
Lisa Hasen
lhasen@getcaret.com
Domo Contact
Cynthia Cowen
PR@domo.com
Source: Domo, Inc.
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