Law firm owners can eliminate accounts receivable and stabilize cashflow with the right strategies. This can transform how financial management is approached in the business.
Joyce Brafford emphasizes the importance of having robust financial reporting and highlights that focusing on specific KPIs can significantly improve law firm cashflow management.
In discussing modern software, Joyce and Brooke point out that customizable workflows can enhance financial management in law firms, making processes more efficient and less reliant on outdated methods.
Brooke’s five-point plan for tackling accounts receivable includes innovative approaches like evergreen retainers, showcasing a shift towards more proactive financial strategies.
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