Implementing Financial Intelligence Report

Giving Law Firms a Competitive Advantage in 2022 and Beyond

In an effort to identify key trends among law firm financial leaders a consortium including SurePoint Technologies engaged Ari Kaplan Advisors to interview 30 law firm financial leaders regarding:

• Elevated expectations of finance professionals
• Impact of the pandemic on the business of law
• Application of data to decision-making
• Perception of profitability
• The pace of innovation

Here is a sampling of the key findings:

• 17% of the respondents work for firms that do not measure profitability.
• 27% are exploring other service delivery models to increase profitability.
• 93% reported that reliable, timely data can help law firms gain a competitive edge.
• 15% calculate profitability at the firm level, 23% at the attorney level and 33% determine profitability at the matter level.

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Implementing Financial Intelligence Infographic

Download this infographic for an overview of some of the key takeaways from the “Implementing Financial Intelligence: Giving Law Firms a Competitive Advantage in 2022 and Beyond” report. The full report was based on discussions with 30 law firm finance leaders to identify key trends across the legal industry. Download Infographic

Ari Kaplan spoke with legal tech industry leaders including Tom Obermaier, CEO of SurePoint Technologies, about the new “Implementing Financial Intelligence to Give Law Firms a Competitive Advantage in 2022 and Beyond” report on what the results and trends mean for the future of the legal industry. Listen to Ari’s podcast with the consortium and read the interview and overviews below.

• LAW.COM | “Best Practices: How Law Firms Can Gain a Competitive Advantage With Financial Intelligence“
• ABA Journal | “How Law Firms Can Gain a Competitive Advantage with Financial Intelligence“
  
• Law Journal Newsletter | “How Law Firms Can Gain a Competitive Advantage With Financial Intelligence“
• Reinventing Professionals Podcast | “Implementing Financial Intelligence to Give Law Firms a Competitive Advantage“
• Press Release | “New Research Highlights the Value of Financial Intelligence for Law Firms“

Learn how to make financial intelligence a competitive advantage for your firm today!

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Downloads

“Law Firm Management Year End Checklist”

Let’s get a jumpstart in making the most out of the new year for your practice. The SurePoint Year End Checklist offers a step-by-step inventory of all year end tasks for law firm management

 

This checklist will help you identify any potential year-end risks while ensuring the establishment and update of protocols and procedures that will maximize your law firm’s performance.

 

Download the SurePoint Year End Checklist,  and start your due diligence today.

 

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“Choosing the Right Financial Management System for Your Firm”

As a law firm administrator, you must anticipate the future needs of the firm, its partners and its associates in order help achieve business growth.

 

Rather than waiting until you’re forced to choose a new financial management system, be proactive.

 

Download the “Choosing the Right Financial Management System for Your Firm” eBook, to prepare your firm to transition to your new system.

 

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“How Your Financial Management System Can Provide You with Better Business Intelligence”

Your financial management system should provide you with more than raw data; it should provide you with the business intelligence you need to meet and exceed firm goals.

 

But how do you turn data into insights and those insights into a plan of action for firm growth?

 

Download the “How Your Financial Management System Can Provide You with Better Business Intelligence” eBook, to get started.

 

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Technical and Workflow Evaluation

Whether your team is working remotely or in an office, it is critical that they have access to accurate and current data with the right processes in place to unlock greater levels of efficiency and financial performance. We have talked to hundreds of law firm leaders who are struggling with identifying the most impactful process improvements to make, getting immediate access to key performance indicators, and closing the books on time and with certainty.

 

We can help. Schedule a Workflow and Technical Evaluation to learn how the SurePoint Legal Management System (LMS) can help your firm automate its accounts payable, accounts receivable, time keeping, matter management, reporting processes and more.

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