John Mullins invites you to his round table discussion: Tackling the financial fitness challenge
Thursday 9th May or Wednesday 12th June, 9.30am, Law Society
Its little surprise that fiscal hygiene and financial fitness are at the top of todays practice agenda. Firm failures, flat revenues, rising costs, increasing competition and price pressure, lending restrictions, delayed distributions, these are just some of the factors coming together to create the perfect storm for UK law firms. Its the tight ships that will have the best chance of riding that storm successfully, those that are proactively and effectively managing cash, WIP and debt to improve working capital and drive down lock-up.
Led by former COO and CFO of Herbert Smith Freehills John Mullins, the session will explore the current legal landscape and examine practical strategies for:
· Improving WIP management
· Increasing billing and collection realisation
· Limiting write-offs
· Improving matter profitability
· Reducing bad debt
· Accelerating cash to offset interest payments
· Boosting PEP
As part of the discussion John will share a case study from a Top 20 firm, explaining how it successfully reduced debtor days by 20% in less than six months, achieved a £10m cash acceleration in the same timeframe, and is on track to cut three weeks from its lock-up figures. The aim is to highlight that there are proven methodologies a potent mix of new thinking, technique and technology for tackling the financial fitness challenge.
We hope that you can make one of the two planned sessions and look forward to welcoming you. Please note that as places are limited, we will be operating on a first come, first served basis. If you are unable to come but wish to pass the invitation to a colleague, feel free to do so.
Dates: Thursday 9th May or Wednesday 12th June
(Please indicate preference in RSVP)
Start: 9.30am Registration and Coffee
Finish: 12.30pm Concluding Remarks and Lunch
Location: The Law Society, Chancery Lane, London WC2A 1PL
RSVP: To book your place please email either email me at firstname.lastname@example.org or call me direct on 0845 226 8184
Business Development Manager