As of 2018, we provide services to leading law firms.
As of 2018, we provide services to 35 leading law firms.
Our experience with the legal field, coupled with our expertise in business economics, enable you to conclude fee agreements that maximize your profitability, while minimizing your risk.
We provide you with a complete set of analytics on every parameter that may impact on your firm’s profitability – fee agreements, hours, invoices, collections, client profitability, department profitability, lawyer profitability, annual budget, ongoing monitoring – and what exactly needs to happen for you to be able to earn more money. All this information becomes the domain of the Precise team sitting in your office, which not only provides you with solutions but also implements them.
Let us handle your finances so you can focus on recruiting clients and providing legal services.
Our familiarity with the various management models for law firms enables you to choose whichever one suits you best.
Money Lifecycle Management
- Monitoring recorded hours
- Centralizing contract collections
- Issuing pro forma invoices
- Issuing receipts and tax invoices
- Monitoring hourly caps
- Setting and monitoring goals
- Analyzing profitability from a number of different parameters (e.g., projects, clients, departments) and resolving bottlenecks
- Managing cash flow
Working with a large number of law firms allows us to conduct an annual benchmarking survey of performance across companies.
Performance is compared to market averages for all parameters and then normalized to the size and work volume of each particular firm. Managing partners are highly interested in the survey results and use them to enhance operations.