Digital White Papers

December 2013: Business and Financial Management

publication of the International Legal Technology Association

Issue link: http://epubs.iltanet.org/i/231030

Contents of this Issue

Navigation

Page 22 of 41

TOP 10 YEAR-END COLLECTION TIPS FOR FIRMS BIG AND SMALL 10. UTILIZE YOUR VILLAGE (IT SURE TAKES ONE). The success of the push relies on many different individuals, not any one person. It is a team effort and includes everyone from the chief operating officer to your messengers — all play key roles. With respect to administrators and professional staff, they need to be aware of what the push is and its importance to the firm. Furthermore, their particular roles should be defined and communicated to them. Frequently, they look forward to and appreciate being a part of a larger firmwide effort. The role of legal secretaries or assistants in the push cannot be overlooked because of their frequent interaction with clients and billing attorneys. FINAL TIPS Some final thoughts to keep in mind as you consider your year-end processes: One size does not fit all. Larger firms and smaller firms struggle with a lot of the same issues, which is why the roadmap is similar — but what works well for your firm depends on its culture, the level of support and the resources available. The size of the law firm, surprisingly, is not the most critical component in the plan. The key to success, particularly in the long haul, is the ability to take time to comprehend the nuances in your firm, the ability to evaluate your success and the flexibility to manage change as necessary. While this does not guarantee hitting the target 100 percent of the time, your preparedness and flexibility will usually overcome any drastic surprises and help you meet or exceed your year-end goals. Daryl Lawson is the Director of Inventory/Asset Control for Squire Sanders, a law firm with over 1,300 attorneys in 39 office and 19 countries. He also serves as Chairman for the Law Firm Group Forum hosted through NACM-Midwest Connect (Chicago). His professional career spans the last 25 years in both the service and manufacturing arenas. Daryl has a unique collection of insight into the formulation of key initiatives to help better effectuate revenue generation without overtaxing resources. Contact him at dlawson@ssd.com. John T. Podbielski, Jr. is the Client Services Manager at Ungaretti & Harris LLP, a midsize Chicago-based law firm, where he oversees credit and collections at the firm and leads and manages the firm's annual year-end collection push. He is a frequent speaker and author on credit and collections for professional service firms. He is the founder of the Law Firm Credit & Collections Group's listserv and discussion forum. John currently serves as the Treasurer for the Greater Chicago Chapter of the ALA. Contact him at jpodbielski@uhlaw.com.

Articles in this issue

Links on this page

Archives of this issue

view archives of Digital White Papers - December 2013: Business and Financial Management