Oxymoron or the most critical responsibility of a Finance Manager? On the surface, financial forecasting in a no win no fee personal injury firm can feel almost absurd. Revenue is contingent and speculative Settlement timing is uncertain Claim duration can stretch unpredictably Subsequent outlays can emerge as complexity deepens on matters Post settlement clearances and formalities can [...]
Personal injury practices are built on work‑in‑progress. Long‑running matters. Long hours of work on all fronts. Managing claimant expectations while pushing for outcomes. Deferred recoveries. High disbursement spend. Outcomes that are uncertain until the very end. Every PI Principal understands this in theory. Yet in practice, WIP is often the least actively managed asset in the firm. Too [...]
Legal Disbursement debt or self-funding can distort a law firm’s financial profile and reduce its borrowing capacity. Providior’s specialist funding solution helps isolate this debt, enabling more productive bank financing conversations. The Value of Non-Bank Specialist Funders It was over coffee the other day that the Managing Director of one of our successful law [...]
Personal injury law firms, and mixed practice firms with a PI practice area, often face cashflow strain from unbilled disbursements. This could be viewed as just the cost of operating a no win no fee business model, but this view may overlook the immediate value of cash in your business. For every PI practitioner, [...]
With the latest inflation data just released, economic conditions are front of mind for most Australians and it’s no surprise that consumer sentiment and business confidence indices are declining. However the SME lending market remains strong and law firms can benefit from stable credit providers. Economic Environment It’s more than [...]
Fixes for daily challenges faced by professional service firms Jim Rohn once famously said "Either you run the day or the day runs you." How many times have you wondered where the day went? Despite best intentions, a myriad of distractions can stop you from getting your best work done. In a [...]
Why are you in business? If you’re anything like us, that genuine thrill when a customer puts their faith in you is hard to beat. Capitalising on that initial feeling is vital. Our clients know this well. For a Personal Injury law firm to grow, you need to bring in more new [...]
In previous posts we touched on how much we love building strategic relationships with our clients. Our aim has always been to provide more than what is expected. Besides being a far more enjoyable interaction, it just makes good business sense. Genuinely happy clients will be far greater advertisers of your business than [...]
Medico-legal assessments, often referred to as Independent Medical Examinations, are typically requested for the purpose of an ongoing injury compensation claim by a lawyer, the insurance company or the insurer’s lawyer. However, the medicolegal field is broad and spans all industries, with many Independent Medical Examiners (IME) relied upon for their opinion directly to [...]
