Effective working capital (also know as cash flow) management is absolutely pivotal to the success of every legal practice. It requires the establishment of the appropriate commercial policies necessary to achieve the desired financial outcome and discipline to ensure firm-wide compliance with those policies. The resources in this section are focused on providing you with practical advice on successfully working capital at your firm.
Working capital management is part of the 'Improve Firm Profitability' pillar of ALPMA Legal Practice Management Learning and Development Framework. Together, the six pillars cover the key areas you need to know to successfully manage and lead your firm or department.