Monitoring rates charged for fees worked on a matter is another method of managing costs for your business. The rates chart on the bottom left of the law firms page covers rates charged by fee earner role for hourly matters. The data displayed is the actual rate recorded by the law firm (for that fee earner) in their practice management system before any write down has occurred.
The spread of rates by role for hourly matters is displayed as a box and whisker line on the candlestick chart. On the lower side of the whisker is the minimum rate issued by standard role. The body of the box is split between the 25th, median and 75th percentile. On the 25th percentile, rate forms the start of the box, the white line in the middle shows the median rate and the uppermost side of the box is the 75th percentile. The end of the uppermost side of the whisker is the maximum rate charged.
Hover your cursor over the chart to view the minimum, median and maximum rate per standard fee earner role.
Rates in Apperio are also split over an average. The average rate corresponds to the mean rate which is the sum of the rates for each time entry divided by the number of time entries at that rate.