Consulting | Time and Billing System Assessment
Law firms and professional service firms often suffer from the same issues surrounding their financial systems - the information is being collected and managed but, the time/billing information is typically not available to the people that need it. Management of the firm needs access to critical data on the growth of the firm, the financial performance drivers associated with clients, and the significant points in its operations where additional profit margin is gained or lost - accessing financial information.
Rafte & Company can assist your firm management team with customizing reports and accessing information without disrupting the financial operations of the firm by taking a vendor-neutral approach to reviewing a firm’s time and billing processes and software system.
Law firms and other professional services firms are major changes in doing business, including: alternative billing practices, corporate-client demands for tighter cost report and controls and distributed or remote team collaboration drives the need to readdress if their current time and billing system is meeting their needs. As a result, the professional services sector is experiencing the most significant shift in business practices over the last two decades.
Bottom line- corporate clients are under pressure to control costs, especially as we navigate this economic downturn. Rafte & Company helps our clients take a deep breath and helps them pragmatically align a time and billing system that meets both their firm’s and client’s requirements. We often find that many firms can continue using the same time and billing system that they have in place today, the system just needs to be fine-tuned to mirror their current business practices.
Law firms and professional service firms often suffer from the same issues surrounding their financial systems - the information is being collected and managed but, the time/billing information is typically not available to the people that need it. Management of the firm needs access to critical data on the growth of the firm, the financial performance drivers associated with clients, and the significant points in its operations where additional profit margin is gained or lost - accessing financial information.
Rafte & Company can assist your firm management team with customizing reports and accessing information without disrupting the financial operations of the firm by taking a vendor-neutral approach to reviewing a firm’s time and billing processes and software system.
Law firms and other professional services firms are major changes in doing business, including: alternative billing practices, corporate-client demands for tighter cost report and controls and distributed or remote team collaboration drives the need to readdress if their current time and billing system is meeting their needs. As a result, the professional services sector is experiencing the most significant shift in business practices over the last two decades.
Bottom line- corporate clients are under pressure to control costs, especially as we navigate this economic downturn. Rafte & Company helps our clients take a deep breath and helps them pragmatically align a time and billing system that meets both their firm’s and client’s requirements. We often find that many firms can continue using the same time and billing system that they have in place today, the system just needs to be fine-tuned to mirror their current business practices.
