Strategic business review and report by department to improve efficiency and profitability

Our benchmarking analysis shows that some law firms are highly efficient, profitable and cash generative, whilst others could make huge improvements in these areas.

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.

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 department by department report on current procedures and practices affecting efficiency and profitability 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?

You will manage your costs appropriately
You will create shared employee responsibility
You will communicate operational goals to employees
You will boost productivity and profitability

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.

CASE STUDY

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.