business growth law firm

In a legal world that is full of innovation and constant change, you need the skills to ensure that your own firm is successfully progressing. The Annual Law Firm’s Survey from 2017 showed that in the UK, chargeable hours continued to weaken with a further drop in average chargeable hours across all grades and bandings in the Top 50 firms. For the >5 year pqe grade in the Top 10 and Top 11-25 the average chargeable hours was 1,380 (fall of 3%) and 1,195 hours (fall of 4%). This drop was mirrored internationally in Western Europe, USA and Asia and the Far East. How can you stand out from the crowd and drive profits while maintaining client relationships and not losing any time and money in the process? (more…)

accounts receivable

How can you find more time in your work day, while also being able to keep your cash flowing? Traditional methods of invoicing are tedious, prone to error, and time-consuming. It can be difficult and complicated to reconcile at the end of a payment period, and costly for supplies. You are tasked with the monotony of rewriting each customer detail and accurately relaying sensitive payment information. (more…)

invoice tracking software

In a world where we are constantly uploading and transferring our data online, it is natural to worry about the security of our information. This concern becomes more pressing in regards to business goods: how can we be sure that the confidential electronic statistics, documents, facts and figures of a company are protected? (more…)

Invoice Collection

You need to get paid, on time. Late invoice payments are a common issue faced by businesses, but cash must be flowing in by the deadlines to keep your company afloat. Following up on outstanding invoices can feel awkward to navigate, particularly with clients with whom you’ve had a longstanding affiliation. When the time comes to chase the payment, and you’re agonizing over the tough conversations you’ll need to have with a client, remember that you are owed for your work! Those difficult conversations feel onerous, but luckily there are methods to help you to feel more in control in this area of business, which will also preserve the relationships between your business and its clients. We want to help take away some of your discomfort by offering some invoice reminder samples that will get you paid faster. (more…)

The Worst Invoice Collection Mistakes

Invoice Collection Mistakes

Did you know that 39% of invoices are not paid by their due date? Not only that, but 48% of clients delay their payments, and a further 52% of businesses are asked by their clients for extended terms. Invoice collection is a crucial part of your business, where keeping your cash flowing is important so that your business will thrive. (more…)

Accounts receivable

Keeping your accounts receivable in order is a challenge. Often the problem seems to lie with others. According to a 2017 Payment Practices study by Atradius, 92.6 percent of businesses report late payments, 48.8 percent of invoices are overdue, and businesses were forced to write off 2.1 percent of receivables as uncollectible. While we can’t control when and how clients make payments, setting up measures to keep accounts streamlined can clear up the clutter. (more…)