Profit improvement

If your legal firm is not making as much profit as you believe it should, it makes sense to seek expert advice on improving performance. That’s where Milsted Langdon can help.

For fee-based businesses operating in a competitive marketplace, financial stability is crucial. We can assist with setting appropriate fee levels, financial forecasting and managing and improving cash flow.  Our specialist Business Intelligence team can advise on cost-effective ways to help legal firms unlock and make sense of key financial information hidden in their accounting software and to use that data effectively to tackle problem areas and strengthen their operations for the future.

We will also work with you to set financial targets, as well as identifying the tools and actions you will need to help achieve your objectives. Our independent advice will help you to look at your firm with fresh eyes and develop a strategy that gives you a focus for the future.

By regularly reviewing your progress against your targets and working with you to update your strategy, we can ensure it keeps pace with your firm’s progress and we can keep you on track to achieve your targets.

We can also assist with the growth opportunities created by alternative business structures (ABS), such as enhanced access to capital and greater funding flexibility, as well as the potential for becoming a “one stop” shop or consolidating a particular specialism within your firm.

To find out more about our accountancy, tax and business advice service for legal firms, please contact us.