Cash is king, and there is no working around a cash flow issue that does not include keeping a close eye on Accounts Receivable (A/R) aging. How often do your non-financial professionals monitor A/R? Are individual attorneys aware of collections aging when prioritizing their workload? Are Client Advances sitting on the books but not billed? Where do the largest accounts receivable issues crop up?
As a financial manager you will appreciate how BIPro raises attorney awareness of financial performance and relieves the burden of producing and distributing reports to individual billing professionals. For example, with BIPro’s Cash Profile, attorneys and non-financial managers can instantly prioritize their efforts to address issues in Accounts Receivable and Client Advances. The BIPro color-coded charts graphically display a client’s proportional share of the firm’s overall A/R as well as its age so collection efforts can have the greatest impact.