Bank-law firm relationships reach a whole new level

  • Print
  • Comments (1)

Readers' comments (1)

  • Are you financing your clients?

    Firms should be asking themselves why they need to borrow, and what they can do to reduce the amount of funding required.

    A review of magic circle firms suggests that they take 5 - 6 months to collect fees from clients. Managing partners and finance directors should be considering how long they take to bill clients (i.e. how long does work go unbilled), how long it takes to get invoices out to clients (how efficicient is the billing process), and how long clients take to pay from the date of receiving the invoice. Shortening these can significantly reduce the level of funding you need.

    Unsuitable or offensive? Report this comment

Have your say

Mandatory Required Fields


Comments that are in breach or potential breach of our terms and conditions in particular clause 8, may not be published or, if published, may subsequently be taken down. In addition we may remove any comment where a complaint is made in respect of it. These actions are at our sole discretion.

  • Print
  • Comments (1)