How Transparency Leads to Better Firm Management

Sharing information is like casting a light. Your path is always easier when people are not in the dark. The same goes for transparency when it comes to firm management. The more you share with your clients, employees, and consultants, the more open you are regarding expectations and results. And because of this transparency, your clients are happier, and your firm comes together fully as a team. So, how exactly do you provide more transparency to your clients? 

Transparency for Better Firm Management 

Firm transparency is the process of being honest and straightforward about firm operations. Transparent companies share information relating to performance, internal processes, sourcing, and values. When there’s an issue, rather than hide it and cause conflicts and delayed time, be upfront about the issue. Transparency leads to trust, and your clients (and the rest of your firm) will appreciate your openness. Not to mention, many clients only want to support firms they trust.  

Share Dashboards/Project KPIs 

One of the easiest ways to become more transparent with your firm and clients is through firm management software. If you’re using multiple platforms, outdated software, or manual processes to manage your firm, you’ll find it’s quite difficult to be fully transparent with your team and clients- mainly because you don’t have the tools to do so.  

BQE CORE provides an all-in-one dashboard that gives you full insight and control into your firm’s operations and each project’s progress. With customizable reports and a full view into your project’s profitability, you can be as transparent as you want to be at any given time.  

The BQE CORE dashboard is a perfect tool to manage your projects from a centralized place. The dashboard displays comparison tables, analysis charts, timelines, and other information that enables you to track and share the progress of each project. This gives you complete transparency into your firm’s progress while also allowing you to provide insight to the rest of your firm and clients.  

Another important way to be transparent is knowing and stating your KPIs. Key performance indicators, or KPIs, are how your team will know if they were successful at the end of the day. If you don’t have goals set, how are you going to know how you’re doing on a project? And how can you share updates with clients? 

Determine your KPIs at the outset of the project, so your team understands the motivation behind their efforts and can work to achieve them.   

Time Tracking 

Firm transparency helps immensely with employee engagement. An effortless way to be more transparent in your firm is through time tracking. When your employees track their time, they can see how their contributions made a difference in the overall project.  

When your employees feel that their work is essential, they’re motivated to work harder, which leads to greater employee engagement.  

Time tracking also gives you greater transparency into project performance and just where your employees are spending most of their valuable time. If you’re charging less than you should for a project, you can gauge this by seeing how much time your employees are putting toward the end results. Are they spending a lot of extra time on miscellaneous tasks that you didn’t anticipate?  

To be as transparent as you can be with your employees, clients, and even yourself, time tracking really is that important.  

Stronger Firm Management with BQE 

Firm transparency influences everything- even your bottom line. Through stronger communication, engaged employees, and stellar customer relations, you can overcome many obstacles. The fewer challenges to hold you back, the more you can grow and improve your firm- while also boosting your bottom line.  

To learn more about how you can improve transparency with your clients and team, try a free demo of our firm management platform today. You’ll be amazed at not only how much more transparent you are with your team and clients, but also how much easier running your firm can be.