Unpaid invoices and overdue accounts can lead to cash flow issues, hinder business growth, and strain client relationships. Consider these strategies to help you keep receivables low and improve the overall financial stability of your firm. Clear and Detailed Fee Agreements The foundation of any successful receivables management strategy begins with transparent and … [Read more...] about Could you be doing more to make your receivables less?
Increasing profits
Prove tech competency at your law firm
By Doug Striker Clients are increasingly asking law firms to prove tech competency before signing contracts for work. Why? Because they know that good tech skills translate into more efficient production, which translates into more bang for their buck. Simply put: Clients don’t want to pay high hourly rates if the people producing the work don’t know how to, say, format a … [Read more...] about Prove tech competency at your law firm
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
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
Time to Talk Time Off: Getting Summer Vacations on the Calendar
April is the perfect time to get ahead of the summer scramble by nailing down everyone’s vacation plans. As an office manager, you know that warm weather brings sunshine, sandals—and a flurry of PTO requests that can leave you short-staffed if you’re not careful. The earlier you start organizing summer schedules, the smoother the season will be for everyone. Here’s how to … [Read more...] about Time to Talk Time Off: Getting Summer Vacations on the Calendar
Mastering the Small Law Office: Your Essential Cheat Sheet
Running a small law office means wearing a lot of hats — often at the same time. It’s a balancing act of managing tasks, supporting your team, keeping clients happy, and somehow finding time to breathe. This cheat sheet is your go-to guide for making it all run smoother. Whether you're a seasoned office manager or stepping into the role for the first time, these quick tips and … [Read more...] about Mastering the Small Law Office: Your Essential Cheat Sheet
How to Reduce Client Pushback on Legal Bills
One of the biggest headaches in law firm management is dealing with client pushback on legal bills. Whether it's confusion over charges, frustration with unexpected costs, or simple sticker shock, disputes over invoices can slow down payments and strain client relationships. As a law office manager, you play a key role in reducing billing conflicts by ensuring transparency, … [Read more...] about How to Reduce Client Pushback on Legal Bills
How to organize workflow for paperless document management
Transitioning to a paperless document management workflow can significantly enhance the efficiency, security, and environmental footprint of your law firm. With advancements in technology, creating a paperless office is more feasible and beneficial than ever. Here is a step-by-step guide on how to create a paperless document management workflow for your law firm. 1. Assess … [Read more...] about How to organize workflow for paperless document management
Cost-cutting strategies for law firms
By Elizabeth M. Miller bio After much resistance, kicking and screaming, lawyers are finally facing the reality that the business of practicing law is separate from the practice of law. What exactly does this mean? It means that a law practice is a business and from a management standpoint it needs to be run like a business or the practice will fail. We all know that the … [Read more...] about Cost-cutting strategies for law firms