Get on top of cash flow with a stronger finance team
Your law firm might have won the work and done the work but that is not the end of the story by any means. In fact, finishing the job might actually be the hardest part of the process.
Billing clients for work and ensuring those bills are paid is actually the most crucial stage for any legal business; ensuring a healthy cash flow goes a long way towards producing a successful business.
The economic outlook for 2024
As we start the new year, global volatility and an increasingly competitive environment remain and it’s likely that many businesses and individuals will continue to face financial challenges in 2024. So, it will be more important than ever for law firms to keep tight control over their revenue; avoiding bad debtors; managing WIP and facilitating timely payment from clients.
The finance team is crucial
It’s the finance team who’s the key to this in any organisation but recruiting the right staff to carry out revenue control is often easier said than done.
How we can help
At Global BPO we provide staff to work with your finance team, giving you extra resource where and when you most need it, to support the efficient running of your business and ensure compliance in this highly regulated environment.
Our staff assist with all types of finance services including legal billing, account management and revenue control. They regularly support clients with account queries, bill processing, e-billing, WIP management and write-offs; issuing credit notes and dealing with disbursements.
New year, fresh start?
So now may be the perfect time to make sure your finance team is properly resourced and ready for the challenges ahead. Talk to us to find out how we can strengthen your team in anticipation of the new year.
For more information contact our Client Manager, Suzie Young, at: suzie@globalbpo.co.uk
