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Two 2023 financial benchmarks for law firms: The Law Society/Hazelwoods and the Institute of Legal Finance & Management (ILFM)/Crowe

Red Star Kim

So here are two 2023 benchmarks for law firms: The Law Society/Hazelwoods and the Institute of Legal Finance & Management (ILFM)/Crowe. from £891,693 in 2021 to £939,525 in 2022 Median net profits per equity partner increased by 39%, from £146,417 in 2020 to £203,199 in 2021. in 2021 to 58.9% in 2021 to 58.9%

Finance 130
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5 Advantages of PSA for Finance Leaders

Planview

For finance leaders focused on boosting revenue and profit in 2023, paying more attention to services revenue will help them achieve their financial objectives for the year. Predictable Revenue The first advantage of PSA for finance leaders is enabling a more predictable revenue stream for PS. Professional services (I.e.,

Finance 52
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Book review: All you need to know about commercial awareness by Christopher Stoakes

Red Star Kim

I invited him once to facilitate a junior professionals’ networking event for an accountancy practice – where he talked about one of his other books “All you need to know about the City” (latest version updated in 2022). And the important distinction between cash and profits is highlighted.

Finance 130
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Context and curiosity drive commerciality and pricing

Red Star Kim

This week’s PM Forum training workshop “Commerciality: Finance, Pricing, Innovation and Research” was attended by delegates from law, accountancy and insolvency firms. The crux of marketing is to anticipate (and meet) client needs whilst maximising profit. Price is a major driver of profit. Books on pricing?

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Pitch points from a pitching and tendering training workshop

Red Star Kim

Internal capabilities – In recent years internal business functions such as finance, legal, risk and HR/people have become more influential in shaping enterprise-level strategy. I mentioned an article describing a conference session “Facts tell, Stories sell” on the topic in November 2022.

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“Funding squeeze” does not spell doom and gloom for startups seeking VC

Zendesk

The situation: Startups funding 2022. Startup funding squeeze reaches the SaaS model,” a June 2022 S&P Global Market Intelligence analysis, describes 2021 as “a year characterized by easy money, and lots of it.”. As an alternative, startups are turning to revenue-based debt financing to fund their growth. A total of $8.40

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13 best invoicing software to facilitate your payment process in 2022

PandaDoc

5 from Finances Online, along with a user satisfaction score of 95%. With QuickBooks, you can track expenses, organize receipts, accept payments, send estimates, oversee cash flow, check tax payments, pay bills, track time and inventory, manage contracts, and check profitability. 10 from the editors of Finances Online.