One-day conference
29th June 2010, De Vere Holborn Bars, London
Managing Partner Events presents:
Driving law firm profitability through financial
measurement and reporting
Using internal and external benchmarks to maximise financial performance and growth
09:00 Registration and refreshments
09:30 Chair’s opening remarks
Simon Howell, Chief Operating Officer, Davies Arnold Cooper LLP
09:40 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
10:20 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
11:00 Morning coffee break
11:30 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
12:10 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
12:50 Networking lunch break
Researched by: Media Partner:
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PANEL DISCUSSION
13:50 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
14:30 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
15:10 Afternoon coffee break
15:40 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
16:20 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
17:00 Chair’s closing remarks
Places are limited so email
events@ark-group.com
to secure your place
 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.” “…quite new in post, so learnt lots to take back.”
“Lots of ideas and renewed enthusiasm.” “Excellent networking!”
“A better understanding of what might be achievable: a very interesting 2 days, “Very useful in terms of taking time-out to consider a complex critical area and
thank you.” gaining an insight to others’ experience”
“…the course has given me the time to take the discussion points/ideas and “…lots of ideas, good to talk to so many peers.”
think through how they could be applied to the firm.”

*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

WAYS TO REGISTER EXHIBITION AND SPONSORSHIP TO SAVE MONEY ON THIS CONFERENCE

1. Book before 14th May to claim your 20% early
1. Tel: +44(0)20 7549 2533 OPPORTUNITIES bird discount*
2. E-mail: events@ark-group.com For details of the wide range of 2. Book before 4th June to claim your 15% early
3. Online: www.ark-group.com opportunities available to feature your bird discount*
4. Fax: this form on +44(0)20 7324 organisation at this event, please contact 3. Book in groups, please call for a group discount
2373 Dipa Patel, +44 (0)20 7549 2554 4. Take out a subscription to Managing Partner
or e-mail dipapatel@ark-group.com magazine and receive a 10% discount
5. Post to: Marketing Department,
The Ark Group, Paulton House, Contact Nathan Denham on +44 (0)20 7549 2535
8 Shepherdess Walk, London, or e-mail ndenham@ark-group.com
N1 7LB, UK

DELEGATE FEES

One-day conference only: £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.
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