Benjamin Balk, Amanda Baker, Gina Assimakis & Ann Wooten
“The legal landscape is changing”. We hear this comment all the time. We all know that this statement is true, but let me show you another way of looking at it. One of the most unique characteristics of the environment we currently operate in is the permanence of the change in our industry. There is longevity in this phenomenon we are experiencing. In other words, change is here to stay.While some industry players view this as a crisis, law firms and legal practices of all kinds and all sizes are actually presented with the opportunity to take a long, hard look at who we are, what we do, and how we do what we do. The use of legal technology should not escape a legal practice manager’s eagle eye when conducting this exercise.
Crowe Horwath Financial Performance Benchmarking Study of Australian Law Firms (298 KB)
Crowe Horwath are delighted to partner with Australian Legal Practice Management Association (ALPMA) to deliver the financial performance benchmarking study of Australian law firms. This landmark study has been produced using Crowe Horwath’s proprietary benchmarking tool, Open Measures, enabling Australian law firms to compare the financial health of their practices to that of other firms. This document is a summary of the survey resul
Growth Matters (109 KB)
As we emerge from the challenging conditions of recent times, growth is clearly on the agenda for legal practices. But growth for growth’s sake is not always a positive thing, and increasing revenue quickly can lead to cashflow pressures. A recent survey of Macquarie Relationship Banking legal clients showed that 65 per cent expect positive growth this year. So, how do you plan for this growth? What processes need to be in place to maximise profitability and partner returns? In this article Ma
How to get the best out of a Financial Services and Law Firm relationship (153 KB)
All businesses, in order to function efficiently and perform to their business strategies, require a healthy, open and proactive relationship with their financial services provider. Top and mid tier firms’ plans and strategies may be highly sophisticated or for a sole practitioner, plans may simply reside in the mind of the practitioner. In this article St George look at what a law firm wants from a bank and what the bank requires to make an informed decision. Additionally they look at performan
Trust Deeds - What can lawyers learn from the Bamfords Case? (869 KB)
Since the High Court handed down its verdict in the Bamford v Federal Commissioner of Taxation case, the variances in some deeds has caused concern. In this article Elliotts suggest some useful tips on preparing your client trust deeds and they show how this may also provide opportunities for you and your firm.