Category: Firm Finances

calculator on top of the coins

Understanding Law Firm Financials: Making the Numbers Work

I co-presented a webinar on “Understanding Law Firms Financials: Making the Numbers Work” with Joshua Lenon of Clio. In the webinar I discuss:

  • What financial measurement tools law firms are using
  • What key financial performance indicators are critical for your practice

See here for a link to the archived webinar.

a man s face of victory holding his trophy

Keep your eye on the prize

Marg Bruineman included my comments in her excellent article, “Keep your eye on the prize”, published in Canadian Lawyer I magazine. The article discusses cash flow issues facing Canadian law firms today. My comments focus on suggestions for increasing cash flow using various bad debts prevention controls, including retainers, credit checks and credit limit systems.

How Realization Rates Can Increase Firm Profit

Here is a white paper I wrote for Clio on “How Realization Rates Can Increase Firm Profit”. In recent years, realization rates have been dropping for law firms of all sizes as clients have pushed for lower rates and fixed fee pricing of legal work. The paper explains how realization rates and other key profitability metrics are calculated and outlines several strategies to increase realization rates and profitability.