If only law firms "knew then what they know now" about their clients. The clues were there from the beginning, when the client engagement began. This session asks participants to consider client engagements that resulted in write-offs (bad debt), and what can be done to mitigate loss in the future. What were the warning signs? We discuss criteria for accepting new clients and assessing their financial risk to the law firm. Does your firm use a new client risk rating system? Law firm financial managers are encouraged to identify ways to deal with problem clients early in the cash flow cycle. The session will explore types of analytics for assessing new client exposure, and discuss steps to mitigate that exposure.
Audience Statement: This session assumes that participants have a working knowledge of revenue management and law firm profitability in the legal industry.
July 18, 2018 3:00 PM Eastern
ALA Member Price:
Association of Legal Administrators
CLMSM Recertification Credit: 1.00
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ALA Member Price:$109.00