PerformLaw's Lead Consultant, Brian Kennel, recently spoke at ALA's 2017 Annual Conference & Expo in Denver, Colorado. You can view and download the presentation slides below. The presentation, "Client Profitability: Analysis to Action" reviews how law firms can use profitability analysis to understand the basic economics of their practice. With this knowledge, firms have a competitive advantage to make meaningful improvements.
- Recognize the benefits of client/matter profitability analysis.
- Explain the process for creating a credible profitability analysis.
- Identify the various uses of client profitability.
- Create an action plan for developing a workable client profitability report system.
Having the capability to generate quality client profitability data and the ability to use these data to support meaningful change in an organization are two entirely different processes. Generating the data is relatively easy and is available from most time, billing and accounting systems. A series of repeatable processes and data handling techniques can be designed to produce efficiently a final result that is actionable.
If you are a law firm partner or manager and would like fee estimate for a client profitability analysis for your firm, please submit a no obligation fee inquiry.