Law firm utilization is a struggle for many attorneys. Attorneys, as a whole, work incredibly hard. At the end of their day, they’re exhausted with little to show for it financially. They’re afraid they won’t meet billable goals or financial benchmarks. The fear is pervasive. What’s worse, the heavy expectations
Utilization optimization has become a differentiator for success firms. Is your utilization rate where it should be? If you’re similar to your peers, the answer is No. It’s a difficult question to answer. When it comes to billables, most firms aren’t exceeding their own internal expectations. This is good news.
Is there a way for you to improve your firm’s utilization rates? To make your firm more efficient, productive and profitable? No. There isn’t. Not if you’re unaware of the root cause of your problems. You can’t fix the problems in your firm unless you know they exist. Not properly
Realization efficiency is a major challenge for law firms of any size. It’s simply impossible for firms to achieve a collection realization rate of 100 percent. It also seems like an unrealistic expectation to have. Skeptics are quick to mention that this is the way it goes for everyone in
Does your law firm have abnormally high realization rates? A Thompson Reuters report found that collection realization rates are on the decline. Believe it or not, this is actually very good news. This sounds strange, I know. Hourly rates are climbing. Firms are doing more work. Yet they’re discounting consistently and
Have you missed the blind spots that affect your firm’s realization metrics? They’re easy to miss. In fact, when it comes to collection realization rates, our attention tends to be squarely focus on one thing. Getting clients to pay. This is natural and somewhat unavoidable. We’re supposed to asses these