Meaningful insights

Reimagining costs

Practico presents costs reports in a way that speaks to you and your clients. Our reports use data visualization techniques, underpinned by detailed analysis, to enable our clients to choose the most cost effective pathway.

We have reimagined the way costs are presented. We provide meaningful insights that make decision making easier. Data that speaks. Whatever the size or complexity of the costs litigation, our advice is clear and comprehensive.

Data visualization

We are able to add value by condensing large and complex costs data into manageable and digestible summaries, dashboards and reports. This approach enables our clients to provide instructions with confidence which aids early settlement and focuses written advocacy when the court process becomes necessary. Through data visualizations complex data can be demonstrated in a way that both clients and the court can grasp quickly and retain.


Bullet charts

This is a summary based on a recent case which settled without the need for detailed assessment. We deployed what is known as a Bullet Chart to show the amount of costs claimed, three zones representing high, medium and low recovery brackets, the target and actual results – all in one space-saving graphic.

This way of visualizing data is especially useful when multiple bullet charts are incorporated in a dashboard to monitor clusters of cases in group litigation.


Sparklines

Alongside a simple data table our clients can gain a quick visual representation of a result by the use of sparklines. These can be high-low line charts or mini vertical bar charts and take up a very small footprint on screen or in printed documents.


Bar charts

Simple horizontal bar charts are usually the best option for comparing opposing parties’ costs budgets. Clean, unfussy graphics enable the key differences to stand out.


Waterfall charts

Waterfall charts are an effective way to identify the various costs components within the detailed assessment or negotiation process. This example begins with the costs claim as originally presented and shows how the maximum exposure climbs with the addition of opponent’s costs of assessment, interest, own side’s costs of assessment and is then set off by interim costs and the gross reductions obtained to leave the net outlay to the client. We use similar charts to help clients provision for high value costs disputes and for end review management reports.


Combination charts

Combination charts allow us to plot damages against costs. The example shown here is drawn from a group action (hence the occurrence of individual and common costs components). The line that shows damages against costs quickly focuses on the starkest instances of disproportionality.

Take control of your costs