Outsourced FD Services

The Armstrong Watson Legal Sector Team will work with you to review and lead your finance and accounting function, particularly its output and how that output is used by your key decision makers and fee earners to improve their performance. As part of our FD service offering we provide the following services:

  •   Preparation of annual budgets
  •   Preparation of annual cash flow forecasts
  •   Review and preparation of monthly management information to translate all figures and data in a way which makes sense to the stakeholders
  •   Establish a dashboard of monthly KPIs (Key Performance Indicators)
  •   Monthly preparation of dashboard and provision to management to include commercial analysis and proactive suggestions for improvements in KPIs
  •   Monthly review and update of budgets and forecasts and monitoring of cash needs and draw downs
  •   Review of quarterly VAT returns before submission        
  •   Development of weekly scorecard information for fee earners
  •   Preparation and circulation of weekly scorecard information for fee earners
  •   Provision of direct feedback and coaching to fee earners on their own performance
  •   Provision of information to the bank on a monthly/quarterly/six monthly/annual basis as required
  •   Meeting with the bank every quarter/six months/year as required
  •   Preparation of year end accounts
  •   Generally engaged for queries and proactive support
  •   Design and implementation of remuneration and reward programme for fee earners and staff linked to KPIs

The process

Assisted review of your accounting function and the output produced and how it is used in your firm’s strategy. This service is bespoke to your firm and your specific requirements.

We work with you to make recommendations on every facet of your accounting function including

  • the information used by the key decision makers in the business and how it can be linked to your firm’s strategy.
  • the information provided to fee earners and how this can be used to positively influence culture and performance.
Contact our Legal Sector Partner, Andy Poole, on 07828 857830 or andy.poole@armstrongwatson.co.uk to discuss how we can help you.

  Read more about the benefits of appointing Armstrong Watson

What is it?

Provision of financial director services and high level strategic support on an ongoing basis to fit your firms bespoke needs.

Who is it for?

All law firms of all structures and sizes in all locations.

What are the benefits for your firm?

  1. Cost saving on your current in-house provision
  2. Have clarity in the strategy of the firm and how that strategy can be supported
  3. Take appropriate action on an informed basis
  4. Development of bespoke solutions to fit the needs of your firm’s needs

What do I have to do?

Your internal cashier function should not change, and will still be required for the day to day posting.

What are the deliverables?

The outputs are as noted above. We can agree targets with you to measure our success.

What is the cost?

£1,300 plus VAT and disbursements for an initial assessment meeting via video conference, to be credited against future fees should you decide to appoint us. All fees are agreed based upon a bespoke schedule of the pricing options produced following the assessment meeting.

How long will it take?

We can build a solution that fits your business needs and budgets.

What our clients say

Your Key Contacts

Andy Poole

Corporate Finance Partner - Legal Sector

07828 857830

Email Andy

Sally Jones

Accounting Director

Email Sally