Most lawyers enter the profession with the belief that most of their day will be consumed in the practice of law. However, they soon discover that a significant portion of their time is occupied by drafting costs agreements, invoices, bookkeeping and chasing up clients for overdue bills.
This whitepaper will cover:
- What is cash flow management?
- How to get clients with 60 to 90-days overdue invoices to pay.
- When and how your law firm should get paid.
- How often you should bill clients and chase up overdue payments?
- What is credit management and cash flow smoothing?
- Is your payment data secure?
- Creating a predictable revenue stream with instalment plans.
By adopting some simple, low-cost solutions, not only will you increase the frequency of payments, but you will give your firm a reliable and predictable revenue stream.