Fixed Fees and Financial Performance


Fixed Fees and Financial Performance

  Free Seminar

Recording Date: 27-Jul-2017

Recording Type: Audio + Slides

Courtney Lauren, Senior Manager | Business Banking - Macquarie Bank

Courtney Lauren is the Head of Legal and Financial Services for the Macquarie Business Banking team in Western Australia.  Over the past 10 years, Courtney has worked with a variety of professional service firms, with a particular focus on the accounting, financial planning and legal industries. Courtney works on providing banking solutions that help these firms achieve their personal and business goals. 

Overview:

Is fixed fee billing really a path to happier clients and more satisfied staff? With a growing number of law firm clients demanding more flexibility when it comes to fee arrangements, does a fixed fee arrangement actually meet client’s needs and what are the practical implications for your firm? 

This session will look at the impact that fixed fee pricing could have on cash flows, lock-up positions and funding exposure. It will also include a practical case study by a law firm who has implemented fixed fee billing.

In particular, the session will:
  • demonstrate the impact on financial performance
  • provide useful benchmarking analysis to help you decipher internal and external data in a meaningful way
  • clarify what the economies and efficiencies are to be gained from a banking and accounting perspective, and
  • highlight the pitfalls to be aware of.
Viewing this session will ensure you understand: 
  • the trends in billing methods from successful firms around the country, and
  • how reviewing your billing methods can improve the financial performance of your firm. 

CPD: Practice Management CPD 1 unit/NZ 1 hour


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