Prosperoware Releases Umbria Pricing, Budget, Business Intelligence & Analytics 2.1 for Law Firms and Other Professional Services Firms

PHILADELPHIA, Aug. 27, 2015 /PRNewswire/ -- Prosperoware today announced a broad set of new features for its Umbria Pricing, Budgeting, Business Intelligence & Analytics offering, which gives partners in legal and professional services firms greater visibility into the economics of engagements and better control over costs and profits. Umbria's capabilities lead to improved decision-making on staffing resources that can deliver an appropriate profit margin and improved relationships with clients because the firm can better predict fees, monitor budgets and responsibly report progress.

First introduced in May 2014, Umbria Pricing, Budgeting, Business Intelligence & Analytics puts up-to-date information about clients and matters at the partners' fingertips by giving them access to a modern web application with a dashboard or by delivering alerts to their email.

"The professional services industry—and more particularly the legal industry—is undergoing a dramatic change," said Keith Lipman, President and co-founder of Prosperoware. "Clients are unusually focused on securing greater value for their firm. As a result, they are making the 'cost-conscious' choice. For many legal and professional services firms, this has created a meaningful drop in demand, requiring leaner organizations with fewer support staff and tighter margins. Against this new reality, these firms are struggling to manage with their traditional infrastructure."

Umbria software enables a number of business-critical capabilities that help legal and professional services firms competitively price and pitch their services, including pricing supported by metrics-driven fee predictability, automated workflows for generating proposals and managing tasks and projects, flexible options for budgeting, predictive business intelligence and collaboration workflows.

Feature set driven by early adopters

The Umbria 2.1 feature set was driven by feedback from the product's early adopters. The new feature set is designed to address the sophisticated requirements of global law firms, who deal in multiple currencies, and to give these firms the ability to support a multitude of different styles of matter budgeting to fit each partner's requirements.  Umbria has been extended and enriched in this release with features that allow firms to:

• Personalize budgeting with a wizard that supports seven different approaches to creating a matter budget
• A new Excel add-on that allows finance teams to continue to leverage the power of Excel in tandem with Umbria
• A new dashboard for tracking account receivables for each partner
• Greater multi-currency support with the ability convert results on the fly
• Organizational performance report that helps practice group leaders understand their group's performance
• Key performance indicators (KPIs) now support comparators—analytics that result in true "scorecards"
• Out-of-the box integration with Aderant Expert, Elite Enterprise and Elite 3E
• New interface to enable users to compare data generated by Umbria with data generated by practice management/time & billing systems
• Improved data exploration capabilities for pricing searches
• Better clarity on which matters have been priced or budgeted
• New web services to support integration with ethical wall solutions, such as Intapp Wall Builder or Prosperoware Milan
• Ability to export "ready to send" client reports with firm branding and key budget/actual numbers for clients to review periodically in a PowerPoint or Word format

"We are introducing new releases for Umbria on a quarterly basis over the next two years," said Sheetal Jain, Chief Technology Officer and co-founder of Prosperoware. "This approach provides an agile framework that enables rapid delivery of features without creating a large upgrade hurdle for our customers. While our goal is to generally avoid product customizations and stick to true product configuration, when required we will attempt to make customizations in a manner that enables us to bring requested features into the core code in the next release."

Product sessions, presentations and demos at ILTACON

See Umbria 2.1 and other Prosperoware offerings at ILTACON (August 31 – September 3, 2015) in Las Vegas in Booth 718 and in our Demo Room Forum Ballroom 8:

Prosperoware product webinar

"If you do not see us at ILTACON, you can attend our webinar on Tuesday, September 8 at 11:00 a.m. (EST)," noted Prosperoware President Keith Lipman.
Introducing Umbria 2.1  - Learn How Prosperoware Can Enable Your Partners to Price, Budget & Monitor their Matters

Register here

About Prosperoware

Prosperoware is an enterprise software company in its sixth year of business. Our innovative technology connects the practice and the business of legal and professional services. We offer four platforms and a variety of integrated products that automate critical business processes, including:

• Simplifying administration and improving user adoption of the electronic file 
• Improving information governance with a strong focus on security
• Improving relationships with cost-conscious clients while controlling profitability

We have over 50 employees and offices in London, Chicago and near Philadelphia. Our more than 255 customers are in law firms, professional services firms, consulting firms and legal and accounting departments that range in size from a few users to our largest with over 14,000 users. Nearly half of the firms in the Am Law 100 is a Prosperoware customer. Clients include: Akin Gump Strauss Hauer & Feld LLP, Goodwin Procter LLP, Baker Botts LLP, Hill Dickinson, Berwin Leighton Paisner LLP, DLA Piper, Duane Morris LLP, Hughes Hubbard & Reed LLP, Sheppard Mullin Richter & Hampton LLP, Comcast, NBCUniversal and HP.

Media Contact:
Paula Matias
Marketing Manager, Prosperoware LLC
484-436-2433
Email

SOURCE Prosperoware