Legal Industry Financial Performance Benchmarking Study

In order to find your firm's ideal financial shape, you need to understand how it is performing compared to similar firms, identify areas for improvement - and then implement strategies to address them. As part of our commitment to helping you run a successful legal practice, ALPMA conducts annual financial performance benchmarking research for law firms in conjunction with Crowe Horwath in Australia and New Zealand. 

 
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Participating in the study will help you:

  • Benchmark your firm's performance against the key indicators of financial performance, including profitability, work in progress days, debtor’s days, interest expense, labour cost, rent, and working capital.
  • Interactively compare your firm's performance against similar firms using a number of filters including state, practice type and size of firm.  This gives you a relevant and meaningful benchmark to work from and realistic goals to aim for.
  • See how your firm's performance is tracking over time, whether you have realised your full potential this year and understand the gaps that need to be addressed to achieve peak performance.
  • Gain insight into the industry's financial performance expectations for the coming year.
  • Use this knowledge to find your firm's ideal financial shape

2016 New Zealand Study

The 2016 ALPMA/Crowe Horwath New Zealand Legal Industry Financial Performance Benchmarking Study is now open for participation by all New Zealand law firms at no cost.  

Participants can interactively compare their firm's performance against the results from similar New Zealand law firms using a number of filters including location, practice type and size of firm. For the first time this year, members of NZLaw, Law Plus, LawLink and Law Alliance will also be able to view results by group. Firms that participated last year will also be able to see how their firm's performance is tracking over time. This powerful analysis gives you a relevant and meaningful benchmark to work from - and realistic goals to aim for.

How to Participate

1. Read the Quick Reference Guide which outlines the material you need to collate in order to complete the online survey. You can also download a full copy of the questions to help with preparation.

2. Nominate one person to provide information from your firm's 2015/16 financial year results, entering your data directly into our online survey.




Need more information?

If you need assistance with completing your on-line survey, please contact:

Glen Gernhoefer
Crowe Horwath 
Telephone: 09 300 5781
Email: glen.gernhoefer@crowehorwath.co.nz

If you would like more information about the ALPMA/Crowe Horwarth Financial Performance Benchmarking Study, please contact Melanie Grace from the ALPMA NZ Secretariat. 

2015 Australian Study

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The ALPMA/Crowe Horwath Australian Legal Industry Financial Performance Benchmarking study is conducted each year in December/January, reviewing results from the previous financial year.  This year, more than 100 firms participated in the study.  Participants will be provided with a log-in to Open Measures, Crowe Horwath's powerful benchmarking tool, to interrogate their results and visualise their performance to similar firms across eight key performance indicators on 23 February, 2016.  Please note, information relating to each individual firm’s performance is strictly confidential.  You will be able to see your firm's data that you have submitted for analysis; however, data relating to the other participating firms will only be available for comparison and analysis in aggregate form.   



Download the 2015 Financial Performance Benchmarking Results Summary


2015 New Zealand Study


The inaugural ALPMA/Crowe Horwath New Zealand Legal Industry Financial Performance Benchmarking study was conducted in July - August, 2015.  Thirty firms from across New Zealand participated in the study.

Download the 2015 NZ Financial Benchmarking Results Summary

"Our firm has undertaken this performance analysis for the past couple of years. It is well worth the time and effort it takes to complete (about 15-20mins).  
The results are very informative and give the partners a more detailed insight into how their firm has performed when compared to other like firms. 
 
Generally the partners only focus on total fees and net profit.  These results breaks down those figures even more. 
 
One of the main aspects of the benchmarking analysis is that it can tell you where the firm IS NOT performing well
whereas the P&L results just tells you how much will be going back to the partners."  

Kevin Johnston, Chief Financial Officer at Russells
*NZ members and law firms: Please note, ALPMA plans to extend this research to New Zealand in 2015. Stay tuned for more details.

Why participate?

  • Benchmark your firm against the key indicators of financial performance, including profitability, work in progress days, debtor’s days, interest expense, labour cost, rent, and working capital. 

  • Interactively compare your firm's performance against the results from similar firms using a number of filters including state, practice type and size of firm.  This gives you a relevant and meaningful benchmark to work from - and realistic goals to aim for.

  • See how your firm's performance is tracking over time, whether you have realised your full potential this year and understand the gaps that need to be addressed to achieve peak performance.

  • Gain insight into how the NZ legal industry expects to perform in the next financial year

  • Use this knowledge to anticipate your firm's financial future.

How to Participate

1. Read the Quick Reference Guide which outlines the material you need to collate in order to complete the on-line survey. You can also download a full copy of the questions to help with preparation.

2. To complete the survey, your firm simply has to nominate one person to provide information from your firm's 2014/15 financial year results, entering your data directly into our on-line survey by 7 August, 2015. Click on the button below to access the survey.  
Data must be entered by Tuesday 15 December, 2015.
Data must be entered by Tuesday 15 December, 2015.
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Strictly Confidential Data

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