How Can Law Firms 'Crack the Nuts on Collections' While Closing Out 2023?
Law firms will try everything in their control, such as setting up so-called milestone payments on next year's work or using discounts to incentivize payment of outstanding bills.
November 21, 2023 at 05:00 AM
6 minute read
Law Firm ManagementThe original version of this story was published on The American Lawyer
Law firms have already turned up the volume on their push to get paid on time this year, especially in the lead-up to the fourth quarter. But with clients taking longer to pay bills and firms' ability to meet budget goals hinging on successful year-end collections, law firms will do everything in their control to get cash in the door by Dec. 31, analysts say.
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