Cash flow is the lifeblood of any business. In law firms, where so much is dependent upon maintaining good relationships, getting clients to pay on time can be a delicate, sometimes frustrating, exercise.
Boosting Receivables: One Large Firm's Approach
Cash flow is the lifeblood of any business. In law firms, where so much is dependent upon maintaining good relationships, getting clients to pay on time can be a delicate, sometimes frustrating, exercise. Smart firms are using everything from technology tools to psychological savvy to improve their realization rates. The efforts are paying off. Firms are getting paid almost 30% faster than in 1995, says Citigroup Private Bank. The challenge today is maintaining that momentum at a time when operations are increasingly dispersed and complex.
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Silvio TalaricoThis premium content is locked for Accounting and Financial Planning for Law Firms subscribers only
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