Law Firm CFO Summit

Proven Strategies for Profitability

Monday, September 18, 2006

About

As competition in the law firm market continues to increase, many firms will not survive. The last two years have seen multiple mega-mergers and the dissolution of firms that were once seen as leaders in their fields. Law firms' costs continue to skyrocket as firms are forced to raise salaries to attract top talent and absorb spiraling health benefits costs. Meanwhile, clients are demanding reductions in their legal fees, and they are becoming more selective about the firms they hire as they look for ways to consolidate their outside counsel needs. What does all this mean to a law firm CFO? It means your job keeps getting tougher.

The successful law firm CFO or finance director must treat the law firm as a profitable business - by maximizing revenue while controlling costs. But too often, the CFO finds himself saddled with a firm that follows an antiquated, outdated business model, where clients are entrusted to pay when they're ready and attorneys are rewarded for inefficiency. To change this model, the CFO must work with firm management to overcome multiple challenges and plan strategically for the firm's future.

American Conference Institute's Law Firm CFO Summit's publication will provide you with the knowledge you need to meet the myriad of challenges in maximizing the firm's profitability - both now and for the future. A faculty of experienced law firm CFOs, partners and managers, as well as solution providers and consultants have provided their presentations from the conference, filled with first-hand, practical, and comprehensive information on:

  • Avoiding disputes with clients over e-billing by giving the clients the billing information they want
  • Targeting areas where you can improve firm profitability
  • Helping attorneys develop a rain-making mindset by encouraging time spent on business development
  • Best practices for efficient and effective billing and collections
  • Strengthening client relationships with strategic collections methods
  • Attracting and keeping top talent with financially prudent employee recruitment and retention strategies

Contents & Contributors

About

As competition in the law firm market continues to increase, many firms will not survive. The last two years have seen multiple mega-mergers and the dissolution of firms that were once seen as leaders in their fields. Law firms' costs continue to skyrocket as firms are forced to raise salaries to attract top talent and absorb spiraling health benefits costs. Meanwhile, clients are demanding reductions in their legal fees, and they are becoming more selective about the firms they hire as they look for ways to consolidate their outside counsel needs. What does all this mean to a law firm CFO? It means your job keeps getting tougher.

The successful law firm CFO or finance director must treat the law firm as a profitable business - by maximizing revenue while controlling costs. But too often, the CFO finds himself saddled with a firm that follows an antiquated, outdated business model, where clients are entrusted to pay when they're ready and attorneys are rewarded for inefficiency. To change this model, the CFO must work with firm management to overcome multiple challenges and plan strategically for the firm's future.

American Conference Institute's Law Firm CFO Summit's publication will provide you with the knowledge you need to meet the myriad of challenges in maximizing the firm's profitability - both now and for the future. A faculty of experienced law firm CFOs, partners and managers, as well as solution providers and consultants have provided their presentations from the conference, filled with first-hand, practical, and comprehensive information on:

  • Avoiding disputes with clients over e-billing by giving the clients the billing information they want
  • Targeting areas where you can improve firm profitability
  • Helping attorneys develop a rain-making mindset by encouraging time spent on business development
  • Best practices for efficient and effective billing and collections
  • Strengthening client relationships with strategic collections methods
  • Attracting and keeping top talent with financially prudent employee recruitment and retention strategies

Contents & Contributors


MINIMIZING THE DOWNSIDE AND MAXIMIZING THE POTENTIAL OF E-BILLING
Rob Thomas, Serengeti Law

FINANCIAL REPORTS: TOOLS FOR SUCCESS USING FINANCIAL REPORTS TO INCREASE YOUR FIRM'S BOTTOM LINE
Marybeth Celorier, Burns & Levinson LLP

USING FINANCIAL REPORTS TO INCREASE YOUR FIRM'S BOTTOM LINE
Steven Petrie, Dorsey & Whitney LLP

MAKING LONG-TERM PROFITABILITY A FIRMWIDE PRIORITYQ
Carolyn Hammerberg, Hanson Bridgett Marcus Vlahos & Rudy, LLP
Deborah McMurray, Deborah McMurray Associates/Content Pilot LLC
Richard Holdrup, Heller Ehrman LLP

STRATEGIC PLANNING OVERVIEW
Michael Hourwitz, Venable LLP
Bruce MacEwen, Esq., AdamSmithEsq.com

GUARDING AGAINST RISK: ARE YOU SPENDING TOO MUCH OR TOO LITTLE ON RISK MANAGEMENT TOOLS?
John A. Shutkin, Shearman & Sterling LLP

GETTING PAID: STRATEGIES FOR TIMELY BILLING AND COLLECTION
Rich Ransom, Fenwick & West LLP
Pamela Kohlman Webster, Buchalter Nemer
Wendy Rustay, Bingham McCutchen LLP

MINIMIZING RECRUITING COSTS AND IMPROVING ATTORNEY RETENTION
Carolyn Hammerberg, Hanson Bridgett Marcus Vlahos & Rudy, LLP
CONTROLLING EMPLOYEE COSTS
P. Doug Benson, Orrick, Herrington & Sutcliffe LLP

MANAGING FINANCIAL RISK THROUGH EFFECTIVE CLIENT INTAKE
James Schnieders, Stone Pigman Walther Wittmann L.L.C.
Seelin Naidoo, Cash Management Solutions

SETTING PARTNER AND ASSOCIATE COMPENSATION STRUCTURES
Bruce D. Heintz, Aronson/Heintz Associates LLC

BUDGETING WISELY FOR TECHNOLOGY PURCHASES
Timothy Armstrong, Vinson & Elkins LLP



DOCUMENT TYPES: PRESENTATIONS AVAILABLE: 0