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Whilst some law firms are starting to return to profitability following the recent recession, it is very much a polarised position with many continuing to struggle.
Whatever your position, there are always profitability improvements that can be made. This review assesses the current procedures and what is happening in practice (often two different things), and then makes detailed suggestions, department by department, on specific improvements that need to be made in order to improve efficiency and profitability.
This is not a lean legal project management service, but may outline certain ways to reduce waste and could recommend bespoke lean reviews for certain departments.
A department by department report on current procedures and practices affecting efficiency and profitability with detailed suggestions of improvements.
All law firms of all sizes in all locations.
Compile required information. Pre-agreed partners and staff to be available for interviews. Partners and head of finance to attend the closing meeting.
On-site interviews with selected Partners and staff. Presentation of draft report. Issue of final report.
£3,100 plus VAT for law firms of up to 50 people. Bespoke costs agreed for larger firms.
One recent review involved a two partner practice where both partners are looking to exit the business within the next five years. Although currently a successful practice as it stands, the report we issued included suggestions as to how they could begin to prepare their business for sale, and ultimately increase its value upon their exit.
To find out more about how we can help you or your business, contact one of our Legal Sector Specialists above.
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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW