This has given me confidence that we are doing many of the right things, and has helped me to emphasise the value the law firm finance function can bring in generating new business, as well, of course, as ensuring we remain highly profitable.
For many law firms, the challenge is not so much achieving satisfactory profits, as being able to demonstrate to the bank manager that they are a financially successful business with sufficient levels of partnership profit, that deserves support.
Proving profitability is not always easy, but we have been working closely with major lenders to develop a programme that will not only put the firm's finances on a sounder footing, but enhance the relationship with the bank manager - to ensure that your firm is adequately funded and that you achieve your goals.
For partners and fee earners practicing in all areas of law, business development skills are crucial.
This law firm business development programme helps partners and key solicitors to measurably and sustainably improve business development performance and profitability.
The outputs from the programme are substantial. We deliver tracking of performance across a range of key indicators, from new clients and instructions to monthly billing rates.
For firms practicing the law, finance has become a more fundamental issue than ever before.
Our 90 Day Finance Programme is the perfect solution for law firms facing extra pressure on their finances, in what are increasingly tough times.
We are leading experts on cash management for law firms, and have over fifteen years’ experience helping lawyers to improve cash flow, reduce costs in a sustainable way, and increase revenue.
In a legal market being transformed by the processes of deregulation resulting from the Legal Services Act, globalisation and technological change, there is a real threat to the independence of medium-sized firms.
Low-cost competitors and private equity-funded Alternative Business Structures may well alter the competitive landscape permanently, and so in order to stay independent in the face of ABS, firms must improve profits, revenue and cash flow, while looking out for opportunities to take over rivals.