A Guide to Credit Management in Law Firms

Introduction

Based on the presenter's extensive experience in business and within law firms, this course considers management and financial disciplines in a way that provides delegates with a practical framework for use within their own firms.

The course will discuss procurement methods, purchase orders, e-billing pdf uploads and the best methods for working with clients to be able to deliver the work and the bill.

Getting buy in from your stakeholders is essential - without it you are sunk!

What You Will Learn

This course will cover the following:

• Working capital leakage - where is it happening and how it can be stopped?
• How to bring collections activity into the heart of the firm
• Building a credit management system that works with your own business
• Practical advice to ensure the firm and the client get the best experience
• Rise of the machines - getting through the complexities of your client's procurement rules
• How do you get the most out of your collections teams?
• Getting the most out of a busy day - time management and tricks of the trade to maximise the time available
• How to win friends and gain influence - selection, modelling & development of credit control teams and processes which the firm will want to engage with
• How to create and update policies, procedures, firmwide engagement & training which will optimise the firms working capital without risking the internal and external client relationship
• Making the working capital, finance and credit control team the 'go to' team rather than the 'run from' team
• Avoiding financial and relationship risk by building culturally sympathetic policies and procedures
• Evolving a credit team to bring positive value that adds to the firms client relationship

Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules