The effectiveness with which partners and their teams engage with clients and manage all aspects of relationships, including billing and collections, is an important aspect of their overall performance and, by extension, the success of their business.
The single most important factor in partnership funding and a crucial one in achieving successful debt management, is ensuring that the management of net investment in clients – work-in-progress not yet billed, plus unpaid invoices – is kept tight. Investment in fixed assets may have increased considerably compared with 20 to 30 years ago due to technology and other factors, but will amount to only around one-third of what is locked up in client net investment at any point in time.
