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Driving-profitability-through-financial-measurement-and-reporting

Driving-profitability-through-financial-measurement-and-reporting

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Published by Ark Group
Managing Partner’s Driving law firm profitability through financial measurement and reporting conference will demonstrate how to identify the right combination of
measures to support your firm’s business strategy and safeguard the profitability of your firm. This unique one-day event will also reveal how to interpret the results and
disseminate the data in a manner that will motivate the partnership and ultimately drive productivity to ensure the success of your firm.
Managing Partner’s Driving law firm profitability through financial measurement and reporting conference will demonstrate how to identify the right combination of
measures to support your firm’s business strategy and safeguard the profitability of your firm. This unique one-day event will also reveal how to interpret the results and
disseminate the data in a manner that will motivate the partnership and ultimately drive productivity to ensure the success of your firm.

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Categories:Types, Brochures
Published by: Ark Group on May 10, 2010
Copyright:Attribution Non-commercial

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03/12/2013

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Driving law firm profitability through financial
measurement and reporting
Places are limited so email
events@ark-group.com
to secure your place
Managing Partner Events presents:
Using internal and external benchmarks to maximise financial performance and growth
Book before
14th May 2010
save \u00a3149
One-day conference
29th June 2010, De Vere Holborn Bars, London
Media Partner:
Researched by:
09:00 Registration and refreshments
09:30Chair\u2019s opening remarks
Simon Howell, Chief Operating Officer, Davies Arnold Cooper LLP
09:40The economic climate, the accounts department and delivering real
value for the business
Analysing the current climate and forecasting the outlook for 2010/2011
\u00bb
How will economic conditions continue to affect law firm financial
\u00bb
measurement and reporting?
What is the role of the accounts department? And what information should
\u00bb
the department be producing?
Adding value to the business by doing more analysis and less processing
\u00bbShrutisha Chikhalikar, Financial Controller, Weightmans LLP
10:20Reviewing the drivers of measurement and identifying key metrics to
support business aims; \u2018\u2019what gets measured gets done\u2019\u2019
Translating strategic objectives into key performance indicators \u2013 what
\u00bb
should your firm be measuring and which methods should it employ?
Aligning people with business strategy through measurement and
\u00bb
reporting; what actions or behaviours are you trying to influence or
change?
Measuring margins - contribution or profit? How to treat overheads and
\u00bb
equity partners notional salaries?
Examining firm profitability and identifying areas that need benchmarking;
\u00bb
income and cost components, ratios and other metrics
Frans Post, Chief Financial Officer, Olswang LLP
11:00 Morning coffee break
11:30Monitoring utilisation and measuring the performance of your fee-
earners and teams
Setting appropriate targets and measurements for each fee-earner and
\u00bb
team
Ensuring fee-earners understand the significance of these measurements;
\u00bb
linking targets and measurement to bonuses and appraisals
How are fee earners hitting targets and where can lessons be learned?
\u00bb
Measuring staff utilisation and workload to streamline the business and
\u00bb
drive efficiency
Alan Hodgart, Managing Director, Huron (UK) Limited
12:10Pricing and profitability of matters and clients
Measuring and calculating individual matter and client profitability
\u00bb
Using client data to assess how to maximise profitability
\u00bb
Examining value billing and the shift away from the billable hour
\u00bb
Assessing pricing in pitching and tendering
\u00bb
Pricing in a tough economic market
\u00bb
Redesigning your firm\u2019s reporting to focus on profit delivery on each and
\u00bb
every matter
Darren Mitchell, Director, Strategic Analysis, Clifford Chance LLP
12:50 Networking lunch break
PANEL DISCUSSION
13:50External reporting and the value of PEP
Examining external benchmarking surveys and choosing the most relevant
\u00bb
survey for your firm
Understanding how firms have achieved top league ratings
\u00bb
Examining PEP and profit margin percentages - is there a definitive
\u00bb
measure for profitability/success?
Identifying a common metric that\u2019s appropriate for external reporting
\u00bb
purposes particularly with the introduction of LDPs and MDPS

Alan Hodgart, Managing Director, Huron (UK) Limited
Frans Post, Chief Financial Officer, Olswang LLP
Darren Mitchell, Director, Strategic Analysis, Clifford Chance LLP

14:30Improving working capital \u2013 cash is king
Understanding the revenue cycle
\u00bb
Using tools and instruments to help you turn your work in progress and
\u00bb
debtors into cash
Measuring cash levels, cash forecasting availability, billing, debtors, work
\u00bb
in progress, lock-up and realisation rates
Putting processes in place to tighten your working capital management
\u00bb
and manage credit control
Ensuring partners are incentivised to manage their working capital
\u00bbSteve Gale, Senior Assurance Partner, Professional Practices Group, Horwath
Clark Whitehill LLP
15:10 Afternoon coffee break
15:40Understanding the data and interpreting the results
Interpreting the results of KPIs and identifying areas in need of
\u00bb
improvement
Turning data into presentable information and disseminating what\u2019s
\u00bb
relevant to ensure it is being used productively
How to better leverage benchmarking data to drive profitability in your firm
\u00bbMargaret Smith, Financial Controller, Baker & McKenzie LLP
16:20Empowering management and partners with information to effect
change
Determining the target audience for the reporting of metrics
\u00bb
Ensuring you have the skill set to communicate a financial message in
\u00bb
non-financial terms
Increasing the availability of information \u2013 making it transparent
\u00bb
Demonstrating how drilling down to measurements per partner enables
\u00bb
them to review and benchmark their own performance
Linking KPIs to partner appraisal and remuneration to inspire performance
\u00bb
and add value
Identifying action points and allocating responsibilities for action
\u00bb
Examining the use of desk-top reporting systems: dashboards, traffic lights,
\u00bb
etc.
Sarah Wilkinson, Finance Director, Field Fisher Waterhouse LLP
17:00Chair\u2019s closing remarks

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