Measuring profitability means measuring lawyer and staff performance. Regardless of whether law firms bill on contingency, flat fee or by the hour, they must measure productivity in order to understand their profitability.
Focused on More Productivity and Higher Profits?
Turning time into money begins with the metrics a firm has in place, whether the key performance indicators are being measured and tracked, and how technology is being leveraged to streamline the entire process. technology plays a vital role in not only monitoring and 'policing' these metrics, but financial management and billing technology in particular, can always be tweaked and customized to better firm metrics ' especially as they relate to firm utilization, realization, and A/R aging.
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