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.
How do you do it? How do you get your clients to pay their invoices early? It’s a struggle to get the average client to pay on time. They’re quick to request work and slow to pay. Is it possible? Not only is it possible to get clients to pay
“I’m not going to pay for that.” It’s a trend that’s spreading rapidly. A research study by the Association of Corporate Counsel found more than 20 percent of respondents flat out refused to pay their bill. Their rationale? First and second year associates are essentially worthless. That’s ridiculous. Who in
It’s the worst part of billing. You worked hard for your clients. You consistently produced exceptional results. You delivered miracles, saved them from disaster. They were incredibly happy and thankful for your help. Until they received your invoice. Their whole demeanor changed at that point. They were no longer the
“I’m not paying for that.” In Manigault v. Daly & Sorenson, LLC, a client accused her law firm of abusing minimum billing increments. She stated her firm used 15-minute increments to bill her when the “specified work took far less time to accomplish.” She refused to pay her $84,500 bill.
It’s such a hassle, why bother? Compliance requires more time; it increases your workload. It creates unnecessary stress and anxiety. It’s certainly helpful for your business but it probably won’t improve your bottom-line much. Is this true? Is compliance the dreary time sink so many believe it to be? Or