Law firms of all sizes measure various behaviors and indicators of firm health and performance. These indicators are important sources of information for the management of the firm and its staff. The challenge is to identify the subset of these metrics that are critical to the success and life of the law firm and then focus on these metrics, which are referred to as key performance indicators, or KPIs. This session will take a comprehensive look into the value of KPIs and the different types used by law firms today, and how they can be used for strategic planning and growth. We'll also address some of the challenges associated with KPI selection, monitoring and benchmarking. Participants will learn how to select the appropriate KPIs and how to manage them for profitable success.

Objectives:

  • Identify the different types of law firm KPIs and how they are used to improve profitability and contribute to strategic growth initiatives.
  • Discuss using KPIs to differentiate differences in gross revenues and profitability.
  • Examine the importance and challenges of using benchmarking surveys and how to use them to evaluate individual law firm KPIs that best align with your firm's strategic plan.
  • Identify and use different types of law firm KPIs for strategic decision making in the areas of marketing, business development, operations, finance and law firm growth.

Audience Statement: This session assumes that participants have a working knowledge of Key Performance Indicators,  revenue management and profitablity in a legal environment

Frederick J. Esposito, Jr., CLM, is Executive Director of the regional law firm Rivkin Radler LLP, and has more than 25 years of law and accounting firm experience. He is a frequent speaker and author of articles on a wide-range of topics, including alternative fee arrangements and law firm profitability models. In December 2016, he became a Faculty Advisor for the Nassau County Bar Academy of Law, in June 2013, he was inducted into the National Speakers Association and in 2012 was named Long Island Business News' CFO of the Year. He is the only Certified Legal Manager on Long Island.

Other Info:

  • 60 Minutes
  • Audience: Intermediate
  • CLM App Management Category -FS: Financial Management
  • CLE: Law Practice Management
Seminar Information
Date Presented:
April 12, 2018 3:00 PM Eastern
Length:
1 hour
ALA Member Price:
$109.00
Non-Member Price:
$129.00
Impacting Financial Performance: Key Performance Indicators
Individual topic purchase: Selected
Association of Legal Administrators
CLMSM Recertification Credit: 1.00
For other credit opportunities, please check the program description or email certification@alanet.org
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On-Demand
ALA Member Price:$109.00
Non-Member Price:$129.00