PROBLEM STATEMENT

Legal IP firms of all sizes are navigating through challenging times and are looking for innovative solutions that can help them differentiate themselves in the competitive IP legal marketplace. These challenges take the form of:

1. An erosion in client confidence due to performance and responsiveness
2. Ever increasing client expectations.  Clients continually demanding high quality and personalized service levels.
3. How to demonstrate superior risk adjusted performance against key benchmarks.
4. Having to generate client-centric reports by aggregating data across various back office systems and risk systems
5. Fractured and disjointed workflow between multiple teams including back office, risk & analytics, pricing & valuations, operations, legal, compliance, advisors, sales and marketing
6. Inconsistent branding in all communications that cuts across divergent processes
7. Business practices that frustrate attorneys and drive them towards client acquisition resulting in a lack of retention.  In other words, how to avoid operational burden of client reporting and other transactional tasks
8. Yesterday’s innovations, such as color printing, electronic distribution and custom report formatting, have become the market standard and the battleground has moved to the delivery of more complex information whilst retaining the same standards for timing of delivery, accuracy and flexibility
9. Greater integration to service both the high net-worth and retail mass affluent segments, with a high degree of differentiation in terms of service and product requirements across front office functions such as sales and marketing, customer management, case management, middle-and-back office operations including financial management, corporate actions, fees and billings, and client reporting
10. Increasing and tougher regulatory environment and compliance issues requiring the burden of proof of compliance

At every client touch point, firms have responded to these challenges and are evolving by investing in agile and innovative solutions to deliver more and better deliverables and work products.

AURORA NORTH SOLUTION:

Aurora North automates your client reporting process by integrating key attorney, matter, and client data points across multiple sources.  Its multi-layered architecture enables you to manage underlying data and risk measures for demonstrating matter-centric and client-centric updates that ultimately produce highly professional and intuitive reports.

By working with our clients and partners, Aurora North has developed a knowledgebase and best practices for automating tedious reporting and data aggregation.  Obviously, this frees up attorneys and staff to focus on what they do best – managing clients.  Partners and administrators, have reports to manage the finances and profitability of the firm.

For clients looking for custom reporting, the intuitive user interface to generate automated client statements and tier sheets at the click of a button.

KEY BENEFITS AND FEATURES:

Benefits

1. Increased Revenue
   • Collections are more timely and disputes less frequent
2. Risk Avoidance
   • Electronic logs and audit trails
   • Enforcement of business rules
   • Standardized processes, integrated data model and streamlined workflow ensuring single version of truth for all client reports
   • Due to •increased transparency by moving to daily computation in conformance with AIMA / CFA standards
3. Reduced direct and indirect costs
   • Due to high degree of automation
   • Access anywhere by web or smart phone Increased productivity; online information delivery platform for anytime, anywhere availability of client reports
   • Tracking, reporting, and metrics to gage performance
   • Automation of the reporting process, distribution of reports on the basis of requested frequency and contents
   • Reduce Paper Processing – Approval documents are routing to firm legal and administrative personnel as soon as they are received.

Features

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  1. Customized presentations and pitch-books designed to engage clients and propose relevant products and services
  
  
  2. Analytics engine for calculating yield compared with the benchmark yield percentage, asset spread, currency spread and industry spread, client’s wealth development, portfolio’s historic yield, key risk numbers and many more performance and risk analytics numbers
  
  
  3. Client reporting as well as internal reporting with support for ad hoc reports and standardized reports. Generate P&L, Balance Sheet, Performance, Position, Risk statements and Transaction reports with a list of all registered trades
  
  
  4. Portfolio reporting including daily updated account balances and holdings, values, performance and taxable gains/losses, month-wise custodial statements and periodic performance reviews (monthly or quarterly)
  
  
  5. Open standards based architecture ensures maximum compatibility with your legacy technology and 3rd party software
  
  
  6. Web Platform for creating and storing underlying Models, Graphical & Analytical Components
  
  
  7. Enterprise data management & reporting platform with integrated data feeds from disparate sources, legacy systems, clearing firms, product providers and custodians
  
  
  8. Auditing and versioning of data and client reports with support for best practices driven workflows

Imagine the ‘To Be’ environment

Imagine that decision support, key performance indicators, and financial and other aggregate information and reports are generated automatically, when you want it and how you want it in your own environment and with real-time data.  Also envision better looking client documents than all of your competition.  Contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it. for more information.

Contact Aurora North Software for details.