Introduction Savvy entrepreneurs with financial acumen are more likely to be in control of their businesses and are more likely to make smarter decisions. Financial literacy is based on knowing your numbers and being acutely aware of what success and failure look like to your specific business. You need to be constantly aware of [...]
Starting a business is a challenging and rewarding experience and often requires the entrepreneur to juggle various tasks. One of the balls to keep in the air is financial management, it is vital for business survival and growth and can make or break a business. Most entrepreneurs reach a point where manual accounting practices [...]
The late Jack Welch described good leaders as those who can create a vision, articulate the vision, passionately own the vision and relentlessly drive it to completion. His words still ring true today as entrepreneurial leadership still relies on the same factors. Successful leaders are purpose driven and prioritize social and environmental impact along [...]
After years of teaming up, we're thrilled to share our new partnership with {{{{link id='59319' text='Clio' esc_html='false' target='_blank' rel='noopener'}}}}. In this collaboration, we want to shine a light on one of Clio's standout features: their legal client portal software. Good communication is vital in the legal world, and having technology that lets clients work [...]
Introduction Cash flow management is critical when it comes to the success and sustainability of a law firm. The simple truth is that insufficient cash flow affects a firm's inability to cover expenses, invest in growth and weather unforeseen challenges. Here are 10 cash flow optimization tips. 1- Check Your Firm's [...]
When running a law firm all owners and executives cannot deny that bookkeeping for a law firm is incredibly important. It builds trust with stakeholders, allows law firm accounts to be compliant with legal requirements, and is the cornerstone of making the right business decision when faced with operational questions. Let's unpack 10 reasons [...]
Legal penalties! If you are involved in bookkeeping for a law firm, this statement should make your blood run cold, and rightfully so. The consequences of not being compliant as a practitioner can have a dire impact and may even lead to disbarment in certain cases. To help you mitigate this, below are 9 [...]
Nonprofit healthcare organizations are largely focused on providing healthcare to the community, however they can not ignore the business-critical aspects of the operation. In addition to adhering to GAAP standards, there are strict guidelines to follow which ensure that the organization complies with regulations and shows accountability by submitting accurate financial statements annually. Nonprofit [...]
In this interview with Matt Lescault from Lescault and Walderman we talk about the three pillars of digital transformation for the financial function: people, processes, and systems. We explore how automation, digitization, and data analytics can help improve financial processes and decision-making. We discuss the key performance indicators (KPIs) for measuring digital transformation success [...]
Introduction The legal field has always been a competitive one, more so right now with an American Bar Association survey noting over a million licensed lawyers. The competition makes it more difficult for law firms to attract new clients as clients have more options. The solution, especially when aiming for long-term success seems to [...]
