Profitability Assessment for Your Law Firm

Think about all the factors that will determine if your firm is profitable. Sure, it’s a simple equation of money in versus money out. You take more money in than you spend and, voilà, you’re a profitable firm! But there’s more to it than that, as we all know. Are Old Habits Cutting Into Your Profits? Have you thought how your current processes can be cutting into your profits? Do your business practices restrict the amount of time you can spend on profitable work? TimeSolv has developed a Profitability Assessment Quiz that revolves around your billing process and how that can affect your profits. This quiz will help you think about the various factors that can lead to your money-earners not spending enough time, well, earning money. Instead, they’re spending too much time with process work. Or, if your firm is big enough that it has a billing manager, how much time are they spending creating bills, chasing approvals and collecting payment? What…

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