Q. These economic times have been challenging for our firm at best. A major problem for us is collecting our client receivables. Do you have any suggestions?
A. Regardless of whether economic times are good or bad cash flow is always a matter of prime concern for law firms. With it taking in general 3-4 months to convert client work to cash anything the firm can do to speed up the collection cycle is always desirable. Here are a few ideas:
Consider our firm for outsourcing this effort.
John W. Olmstead, MBA, Ph.D, CMC