There’s a difference between running a practice and running a business.
At Elevate KPIs our goal is to help you build on the success of your firm. It’s all about increasing profits without increasing hours.
Our Total Law Firm Solution helps law firms become MEGA profitable businesses, here’s how:
Knowing your numbers
It’s extremely important for you to immediately get a grasp on your key numbers. The cost and delay associated with your current accounting system prevents you from proactively running your business. As a result, your profits suffer.
As part of our Total Law Firm Solution we provide the following accounting services:
- Onboarding your year-to-date numbers including reconciliations
- Monthly bookkeeping – we update your books consistently throughout the month to provide extremely timely and accurate information to transform your business
- Trust account bookkeeping and reconciliations – we help you stay in compliance by tracking the client funds you hold in your trust account
- Payroll services – we can help administer payroll and keep your payroll data confidential from your team
- Monthly financial statements – Timely and accurate, the statements are the foundation of your business transformation
Monthly Reports and KPIs
We develop KPIs (Key Performance Indicators) that will serve as a roadmap to your success. We also help you track them on a monthly, quarterly, and annual basis. This gives you a detailed insight into your business’ current performance. It also offers clear guidelines on what you have to do to move forward. The end result is a synergy that maximizes your performance and ensures sustainable growth.
To help simplify and facilitate your growth, we provide premium-quality tailored management reports. We do this on a monthly basis to give you an accurate, detailed overview of your current performance. You do not have to be an accounting expert to understand the trends and results using our management reports.
Compliance and Planning
Consisting of both accountants and attorneys, our team knows exactly what compliance in the legal sector entails. Our comprehensive approach takes this burden off your shoulders and provides peace of mind.
We cover all key aspects of compliance, including:
- Annual federal and state(s) tax returns for the law firm
- 1099 preparation and delivery
- Quarterly and annual payroll filings
In addition to compliance, we help your firm minimize and plan for tax. This includes:
- Quarterly profit allocation between the owners
- Tax minimization by reviewing all aspects of your practice
Making changes that make an impact
Our coaching covers important aspects of business development, including:
- Conversion to value billing
- Process improvement
- Improving team efficiency
- Human resource and culture coaching
- Specialized initiatives for your situation
- Succession planning and ownership
We are not a consultant; we are your coach. As your coach, we help you identify and implement the changes needed to increase your profits. Every firm is different and faces different obstacles. Our coaching services help you find the right path for your firm.
We meet with you quarterly to measure progress and set goals.
Setting goals and tracking your performance is the heart and soul of progress. On a quarterly basis we meet to discuss:
- Financial results from the prior quarter
- Goals for the upcoming quarter
- Accountability for completing critical tasks
The result of this process is a comprehensive overview of actions that your business needs to take to elevate performance.