An increasing dilemma that often threatens the survival of law firms deals with cash flow, or a lack thereof.
On one hand, some firms look to cut costs to preserve cash flow. This can sometimes backfire, as cutting costs leads employees at the firm to sometimes walk on eggshells, lest they become part of the cost-cutting.
On the other hand, some firms look at trying to earn more by having employees work more. This can sometimes backfire, as piling work on employees can sometimes build employee resentment and burnout.
What if there were a simple way to do both using a system you already have available to you?
Research has shown that a 2% increase in customer retention has the same effect as decreasing costs by 10% (Leading on the Edge of Chaos, Emmet Murphy & Mark Murphy). Research has also shown that 96% of unhappy customers never complain, yet 91% will simply leave and never come back (1st Financial Training Services).
What does that research have to do with your firm’s survival?
It’s simple – firms who handle a decent number of legal matters sometimes either lose track of matters or simply don’t have the capacity to adequately track the progress of the legal matters. If you lose track of the matters (cases), then your client will become unhappy. An unhappy client will often leave or tell others about the experience. If you aren’t adequately tracking your matters, then the reality is that clients may leave you and you wouldn’t have a system that would accurately be able to tell you that they are even gone.
The compound effect of the loss of money from poorly tracked matters is staggering, but there is a simple solution. FirmTRAK.
FirmTRAK will sit on top of your current practice management system to automate reporting and analysis of key performance indicators that will help drive the success and growth of your law firm. No more spreadsheets to analyze using a team of people. The information is instantly configured and available at your fingertips.
You went to law school to follow your passion for helping people with their legal needs, not to become a software engineer. That’s where we come in.
Let’s be honest – no other business integration program can do this.
To see how simple it is for us to help your law firm, please check out this short video:
Additionally, we have a special offer for Clio users. See more here: https://www.firmtrak.com/clio/