Managing accounts payable is a critical aspect of running a law firm efficiently and responsibly. Establishing well-defined processes and practices for accounts payable can help your firm maintain financial stability, build strong relationships with vendors, and ensure compliance with financial regulations. Here's some advice on how to set up effective accounts payable … [Read more...] about Keep those payables paid with these procedures
Increasing profits
Set key performance indicators and track on a dashboard
In the realm of law office administration, effective strategic planning is essential for fostering growth, optimizing operations, and ensuring long-term sustainability. Central to this process is the establishment of Key Performance Indicators (KPIs), which serve as quantifiable metrics to gauge the firm's progress towards its overarching goals. When crafting a budget for the … [Read more...] about Set key performance indicators and track on a dashboard
How and when to ask a client for a referral
A new client should be a planned event, not an accident. And the most productive way to get a continuing stream of planned events is to follow an established process for generating referrals. Referrals are the highest producing form of marketing. In fact studies have shown that as many as seven out of 10 referrals turn into new clients. By contrast, cold calls for … [Read more...] about How and when to ask a client for a referral
Enforce those billing and collection guidelines
Getting paid or not getting paid to a great extent depends on the firm’s billing and collection guidelines—and whether they are enforced. Without guidelines, the firm is asking for money loss. Billing is haphazard, collection work isn’t done regularly, personal clients aren’t always satisfied with their bills, and corporate clients may hold up payment or contest the … [Read more...] about Enforce those billing and collection guidelines
How to Create a Calm, Focused Environment in a Small Office
It only takes one loud phone call or a string of interruptions to derail productivity in a small office. When space is limited and everyone works within earshot of one another, creating a calm and focused environment isn’t a luxury—it’s a necessity. Picture this: you’re trying to finalize a report while two coworkers chat about weekend plans right behind … [Read more...] about How to Create a Calm, Focused Environment in a Small Office
Budgeting and planning for long-term stability
Effective budgeting and financial planning are crucial for the long-term stability and success of any law office. Managing finances not only ensures that the firm operates smoothly but also positions it for future growth and stability. Here are some practical tips for creating a sustainable budget, managing expenses, and planning for the financial future of your firm. 1. … [Read more...] about Budgeting and planning for long-term stability
To-Dos: Your May office checklist
It can be difficult to focus on work this month. May is when many of us come down with spring fever, yearning to get outside in the garden or the golf course. So this month's checklist is a nice balance of business and pleasure. 1. Start planning coverages for summer vacations. Many firms do not use temporary legal assistants or secretaries anymore. With stepped up … [Read more...] about To-Dos: Your May office checklist
Clients ask for more transparency, faster responses and value based services
Adapting to changing client expectations is a significant challenge for any law office. Clients today are more informed and have higher expectations than ever before. They demand transparency, faster responses, and value-based services. As a law office manager, it's your job to ensure that your firm meets these expectations and maintains strong client … [Read more...] about Clients ask for more transparency, faster responses and value based services
Monitor these Key Performance Indicators for success
As a law office administrator, your role is crucial in ensuring the efficient and effective functioning of the firm. To achieve this, it is essential to monitor and evaluate the performance of the law office regularly. Key Performance Indicators (KPIs) are indispensable tools that enable you to measure various aspects of the law office's performance. By tracking these KPIs, you … [Read more...] about Monitor these Key Performance Indicators for success
Spreadsheet savvy is vital to law office administration
In the dynamic landscape of legal administration, adept management of data and information is paramount. Law office managers serve as the backbone of law firms, ensuring smooth operations, client satisfaction, and adherence to regulatory requirements. Amidst the myriad responsibilities they shoulder, proficiency in utilizing spreadsheets emerges as a cornerstone skill, … [Read more...] about Spreadsheet savvy is vital to law office administration