Lock-up review to implement procedures to collect cash at a quicker rate

Armstrong Watson's lock-up review will identify where procedures and practice can be improved to release cash that is locked within your firm. We will make detailed suggestions, department by department, on specific improvements that need to be made to improve cashflow and profitability.

Our lock-up review is usually undertaken in conjunction with an integrated three year forecast which demonstrates what the effect of the review recommendations, once implemented, could have on both the cashflow and profitability of the firm or department.

Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

What is it?

A report on current procedures and practices affecting cashflow with detailed suggestions of improvements.

Who is it for?

All law firms of all sizes in all locations.

What are the benefits for your firm?

Have more funds for - Payments to partners - Succession planning - Investment
Reduce your exposure to your funders

What do I have to do?

Compile required information. Pre-agreed partners and staff to be available for interviews. Partners and head of finance to attend the closing meeting.

What are the deliverables?

On-site interviews with selected Partners and staff. Presentation of draft report. Issue of final report.

What is the cost?

Bespoke fee options provided on a case by case basis on size, complexity and typically the number of departments in the firm. Fee options can include a success/results basis, so the fee payable depends on success.

How long will it take?

One month.

Our experience

Armstrong Watson has helped a number of practices to review and improve their lock-up, from a small two partner practice in Yorkshire to a PI department in a 40+ partner practice in the South of England.