The Holy Grail Of Legislation Agency Income Seize

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Legislation corporations have a tendency to depart a variety of income on the desk, as a result of they don’t spend sufficient time specializing in monetary metrics and don’t successfully make use of expertise instruments.

That’s the unhappy a part of the story — the excellent news is that it could actually all be remedied by adopting sound monetary practices.

So, on this episode of the Non-Eventcast, we introduced on Brooke (not Blake!) Vigorous, of Cathedral Capital, to speak about how regulation corporations can seize extra income. 

First, we outline what a “KPI” is, and the way it pertains to regulation agency funds (5:01), earlier than speaking about which particular KPIs regulation corporations ought to be centered on (8:41).  Subsequent Brooke discusses how adjustments to regulation agency monetary administration results engagement agreements (13:27). 

Then, Brooke relays how she found the Holy Grail of efficient regulation agency income seize: the evergreen retainer; it’s your secret weapon (14:36).

Lastly we delve into monetary administration expertise for regulation corporations (19:13), together with accounting software program choices (23:11).

Managing companions spend a variety of time worrying about income. So, why not strive one other tactic: hearken to this podcast, and as an alternative fear about counting all the additional cash you’ll make.

And should you’d like to think about an improve to your agency’s tech stack, be happy to go to the Non-Occasion to be taught extra.

 


Jared Correia, a advisor and authorized expertise professional, is the host of the Non-Eventcast, the featured podcast of the Above the Legislation Non-Occasion for Tech-Perplexed Legal professionals. 

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