Not every new client is good business for a law firm.
Revenue is important, but revenue alone doesn’t tell the full story.
Two clients generating the same annual fees can produce very different financial results.
One may have predictable billing, timely approvals, reasonable administrative requirements and consistent payments.
The other may require extensive invoice corrections, complicated billing guidelines, repeated appeals and significant collections follow-up.
The revenue may look identical.
The cost of servicing those clients is not.
Law firms should understand client profitability by examining more than billed fees.
Realization, collections, administrative effort and the resources required to maintain the relationship all matter.
At Evolution Legal Billing & Bookkeeping, we believe better financial visibility helps firms make better business decisions.
Because growing revenue is important.
Growing profitable revenue is what makes the business stronger.
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