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One-day conference 29th June 2010, De Vere Holborn Bars, London Managing Partner Events presents: Book

One-day conference 29th June 2010, De Vere Holborn Bars, London

Managing Partner Events presents:

Book before 14th May 2010 save £149

Driving law firm profitability through financial measurement and reporting

Using internal and external benchmarks to maximise financial performance and growth

benchmarks to maximise financial performance and growth 09:00 09:30 09:40 10:20 11:00 11:30 12:10 12:50 Registration









Registration and refreshments

Chair’s opening remarks Simon Howell, Chief Operating Officer, Davies Arnold Cooper LLP

The economic climate, the accounts department and delivering real value for the business

» Analysing the current climate and forecasting the outlook for 2010/2011

» How will economic conditions continue to affect law firm financial measurement and reporting?

» What is the role of the accounts department? And what information should the department be producing?

» Adding value to the business by doing more analysis and less processing Shrutisha Chikhalikar, Financial Controller, Weightmans LLP

Reviewing the drivers of measurement and identifying key metrics to support business aims; ‘’what gets measured gets done’’

» Translating strategic objectives into key performance indicators – what should your firm be measuring and which methods should it employ?

» Aligning people with business strategy through measurement and reporting; what actions or behaviours are you trying to influence or change?

» Measuring margins - contribution or profit? How to treat overheads and equity partners notional salaries?

» Examining firm profitability and identifying areas that need benchmarking; income and cost components, ratios and other metrics Frans Post, Chief Financial Officer, Olswang LLP

Morning coffee break

Monitoring utilisation and measuring the performance of your fee- earners and teams

» Setting appropriate targets and measurements for each fee-earner and team

» Ensuring fee-earners understand the significance of these measurements; linking targets and measurement to bonuses and appraisals

» How are fee earners hitting targets and where can lessons be learned?

» Measuring staff utilisation and workload to streamline the business and drive efficiency Alan Hodgart, Managing Director, Huron (UK) Limited

Pricing and profitability of matters and clients

» Measuring and calculating individual matter and client profitability

» Using client data to assess how to maximise profitability

» Examining value billing and the shift away from the billable hour

» Assessing pricing in pitching and tendering

» Pricing in a tough economic market

» Redesigning your firm’s reporting to focus on profit delivery on each and every matter Darren Mitchell, Director, Strategic Analysis, Clifford Chance LLP

Networking lunch break





External reporting and the value of PEP

» Examining external benchmarking surveys and choosing the most relevant survey for your firm

» Understanding how firms have achieved top league ratings

» Examining PEP and profit margin percentages - is there a definitive measure for profitability/success?

Identifying a common metric that’s appropriate for external reporting purposes particularly with the introduction of LDPs and MDPS Alan Hodgart, Managing Director, Huron (UK) Limited Frans Post, Chief Financial Officer, Olswang LLP Darren Mitchell, Director, Strategic Analysis, Clifford Chance LLP



Improving working capital – cash is king

» Understanding the revenue cycle

» Using tools and instruments to help you turn your work in progress and debtors into cash

» Measuring cash levels, cash forecasting availability, billing, debtors, work in progress, lock-up and realisation rates

» Putting processes in place to tighten your working capital management and manage credit control

Ensuring partners are incentivised to manage their working capital Steve Gale, Senior Assurance Partner, Professional Practices Group, Horwath Clark Whitehill LLP



Afternoon coffee break


Understanding the data and interpreting the results

» Interpreting the results of KPIs and identifying areas in need of improvement

» Turning data into presentable information and disseminating what’s relevant to ensure it is being used productively

How to better leverage benchmarking data to drive profitability in your firm Margaret Smith, Financial Controller, Baker & McKenzie LLP



Empowering management and partners with information to effect change

» Determining the target audience for the reporting of metrics

» Ensuring you have the skill set to communicate a financial message in non-financial terms

» Increasing the availability of information – making it transparent

» Demonstrating how drilling down to measurements per partner enables them to review and benchmark their own performance

» Linking KPIs to partner appraisal and remuneration to inspire performance and add value

» Identifying action points and allocating responsibilities for action

Examining the use of desk-top reporting systems: dashboards, traffic lights, etc. Sarah Wilkinson, Finance Director, Field Fisher Waterhouse LLP



Chair’s closing remarks

Why attend?
Why attend?
Why attend?

As law firms enter a new decade, sound financial management is essential if firms are to survive and prosper in an increasingly competitive marketplace. Targeting areas for growth and highlighting areas that need improvement are key elements of a firm’s financial strategy. But strategic and intelligent use of internal and external benchmarks will drive productivity, and ultimately profitability, providing the data is reported and leveraged in such a way as to effect change.

So how do you define what needs measuring? What’s the best way to collate and disseminate data? How can you use results to drive the motivation of the partnership?

Managing Partner’s Driving law firm profitability through financial measurement and reporting conference will demonstrate how to identify the right combination of measures to support your firm’s business strategy and safeguard the profitability of your firm. This unique one-day event will also reveal how to interpret the results and disseminate the data in a manner that will motivate the partnership and ultimately drive productivity to ensure the success of your firm.

Delegate comments from previous years’ events:

“Thoroughly enjoyed the conference.” “Lots of ideas and renewed enthusiasm.” “A better understanding of what might be achievable: a very interesting 2 days, thank you.” “…the course has given me the time to take the discussion points/ideas and think through how they could be applied to the firm.”

“…quite new in post, so learnt lots to take back.” “Excellent networking!” “Very useful in terms of taking time-out to consider a complex critical area and gaining an insight to others’ experience” “…lots of ideas, good to talk to so many peers.”

*Attendance at this event can count towards CPD for ICAEW members if it meets the training and development needs relevant to the member’s current role


1. Tel: +44(0)20 7549 2533

2. E-mail: events@ark-group.com

3. Online: www.ark-group.com

4. Fax: this form on +44(0)20 7324


5. Post to: Marketing Department, The Ark Group, Paulton House, 8 Shepherdess Walk, London, N1 7LB, UK



For details of the wide range of

opportunities available to feature your

organisation at this event, please contact

Dipa Patel, +44 (0)20 7549 2554

or e-mail dipapatel@ark-group.com


1. Book before 14th May to claim your 20% early bird discount*

2. Book before 4th June to claim your 15% early bird discount*

3. Book in groups, please call for a group discount

4. Take out a subscription to Managing Partner magazine and receive a 10% discount

Contact Nathan Denham on +44 (0)20 7549 2535 or e-mail ndenham@ark-group.com


One-day conference only: £745+VAT/ E 850+VAT : £745+VAT/E850+VAT

Event code: 972-10

Sales code: PM02

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1. Bookings can be submitted at any stage prior to the event, subject to availability. A limited allocation is being held and booking early is therefore recommended. In the event of the booking not being accepted by Ark Group the

total amount will be refunded.

2. Payment must be received in full prior to the course.

3. All speakers are correct at the time of printing, but are subject to variation without notice.

4. If the delegate cancels after the booking has been accepted, the delegate will be liable to the following cancellation charges:

Cancellations notified over 45 days prior to the event will not incur a cancellation fee.

In the event of a cancellation being between 45 and 30 days prior to the event, a 20% cancellation fee will be charged.

For cancellations received less than 30 days prior to the event, the full delegate rate must be paid and no refunds will be available.

5. All bookings submitted by mail, e-mail, fax, or over the telephone are subject to these booking conditions.

6. All cancellations must be received in writing.

7. Ark Group will not be held liable for circumstances beyond their control which lead to the cancellation or variation of the programme.

8. All bookings, whether UK or overseas will be charged UK VAT

9. The prices quoted in Euros are the correct conversion rate at the time of print

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