Productivity and Profitability

You might be making fees but are you making money? It is a distinction that is lost on many lawyers. Does it cost you more to provide the service than it produces in fees? Is your credit control effective? Are you paying too much for the necessary running expenses? Are you over or under staffed? Are your charge out rates competitive? Do you have achievable but challenging targets for fee income and chargeable time? Are fee earners underperforming? Only some of the fundamental questions you need to answer before taking steps to drive up profitability.

To assist you we can:

• Analyse client and work types
• Review pricing levels
• Analyse recorded time v fees billed v fees recovered
• Analyse work in progress and billing patterns
• Review staffing levels and departmental/team structures
• Review credit control procedures
• Review overheads and expenditure
• Make recommendation as to required change in approach
• Educate and train personnel on financial issues