Law Firms
As one of the world’s largest and most experienced financial management providers for the legal sector, Precise is uniquely positioned to address the formidable challenges faced by today’s modern law firms.
Leveraging an exclusive methodology designed specifically for law firm leadership and honed over three decades of partnering with practices of all sizes and scope in markets worldwide, we strive to influence decision-making toward achieving performance goals, improving firm stability, and maximizing potential.
No matter your practice area – corporate, litigation, real estate, labor & employment, international property, and more –
Precise will ensure leadership always sees the big picture.
Our tailored solutions, combined with our unique technology and proprietary software developed explicitly to meet the needs of the profession, will provide partners with the data and insights needed to:
Drive
Profitability
Increase Revenue
Per Lawyer
Drive Improvements
in Utilization and
Realization Rates
Close the Inventory
Hours Gap
Our Services
P&L Analysis
Annual review of income and expenses to determine profitability, identify strengths and weaknesses, and accurately gauge overall financial health.
Employee Bonus Structuring
Recommendations for associates and paralegals based on our proprietary modeling.
Firm Financial Diagnoses
Analysis of legal industry-specific KPI to assess financial performance compared to market average and firm potential and pinpoint areas of weakness.
Partner Compensation
Recommendations for lateral and equity partners based on our proprietary modeling.
Billing & Collection Monitoring
Identify areas for improvement through close monitoring of billing and collection activities.
Target and KPI's Monitoring
Establish and monitor billing and revenue targets for specific departments and employees.
Performance Measurement
Monthly review of billing ratio, collection ratio, and realization ratio to target areas for improvement.
Yearly Budget Control
Month-over-month tracking of revenue and expenses to ensure alignment with annual budget targets and enable informed decision-making toward greater profitability.
Money Chain Management
Facilitate faster invoicing, more efficient collections and expedited client payments through process monitoring and optimization.
Benchmarking
Gain insight into market position through annual benchmarking based on industry-specific KPIs.
Insights for Success
Stay on top of all the latest legal and A&E industry news, trends, and developments with Precise. Our expert team harnesses decades of multidisciplinary experience to bring you invaluable insights, helping your firm respond more effectively to diverse professional challenges.
