More and more small firms are outsourcing their admin and compliance functions so that they have more time to practise law and to grow their practice.
Any time spent on admin is less time for billable work.
One piece of advice: If you are going to outsource your admin (billing, invoicing, collections, compliance, payroll, management reports, tax), make sure you choose a supplier who will guarantee that you get management reports within a week of your month end, since if you do need to raise a bank overdraft, your bank will insist on updated financial figures to support the overdraft.
You’ll also want a supplier who can give you sound business advice (like a mentor) and one that has more than one bookkeeper in case something happens.
An extract from the Business Advice for Law Firms e-book by AJS