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    7 Tips to Manage Your Legal Spend

    Recent surveys reveal that the second greatest challenge faced by corporate law departments is controlling their budgets, with a large part of the struggle attributed to spending on outside counsel. With increasing demand for legal services, rising law...

    Increasing Collection Rates

    Good billing practices can help you get paid for the work you've done and improve your client relationships in the process One common experience for small and mid-sized law firms is the growing amount of receivables. Usually, there are two reasons...

    Normalizing Mix Variables in Law Firm Financial Data

    Most law firm managers understand the importance that business analysis plays in steering a firm toward success. However, as with so many things in life, a little bit of analysis can be a dangerous thing. Management reporting processes typically collect...

    How Healthy Is Your Inventory?

    All businesses that accumu­late material amounts of ac­counts receivable ("A/R") rely on metrics that measure the turnover of those receivable balances as a gauge of risk and li­quidity. One of the most common metrics used is what...

    How to Manage Your Law Office: Internal Controls

    Internal controls are important to prevent error and ensure integrity of accounting records as well as to reduce the risk of misappropriation of assets (fraud). A good system of internal controls protects both the firm and its employees. Designing such...