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Billing Season

As we approach the festive season it is timely to reconsider one of the most deeply entrenched and unique features of the financial management of law firms – the year-end billing push. The problem is quite simple; namely that it …

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Cutting Out Write-Offs

There has historically been an acceptance throughout the professions, and in law firms in particular, that write-offs are simply an inevitable cost of doing business. Partners will very often accept before even starting work on a case that a certain …

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Growth, Lockup and Funding

The recent PWC Law Firms’ Survey 2014 headlines highlight a set of trends that herald a return to the ‘good times’ in the legal market. However, it is worth digging a little deeper and asking to what extent these trends …

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Strategic Clients - Strategic Practices

As we have argued in this article, the market segmentation described by Alan Hodgart is likely to lead many mid-market firms to follow one of two routes – growth via merger/acquisition, or increased specialisation and the divestment of services that …

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Key Challenges for the Market

Having last month reviewed our 2011 report Beyond ABS: The Future for Independent Law Firms, we now turn to a recent report by Alan Hodgart of Hodgart Associates, considering the Key Challenges Facing the UK Legal Market in the coming …

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Performance Measurement

One common issue in the management of law firms is that performance falls short of expectations for a period of time, but the firm’s management only finds out when it is too late to make the requisite improvements. One way …

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