Practice Management By The Strategic Partner
As firms continue to seek ways of reducing expenses without impacting negatively on operational performance and profitability, the focus is turning to outsourced ways of working. With the realisation that not every role in a firm, justifies full-time hours – cost-effective solutions to deliver on requirements in a more effective way are being sought.
The Strategic Partner has been working with firms providing Practice Management solutions whereby firms can acquire access and resource from our team of experienced practice managers only using them for the elements of law firm management that should be properly completed by a Practice Manager.
This service enables firms to gain access to experienced practice managers, without the need to employ them on a PAYE full or part-time basis and to acquire their time only when needed. This results in the firm reducing expenses yet achieving a Practice Manager who efficiently completes the necessary role requirements and only for the time needed. This bespoke solution provides the experience that a firm may not be able to access through more traditional routes and is fully integrated and cost-effective.
The role of a Practice Manager can be invaluable for a law firm and its overall management. The Practice Manager should be capable of undertaking necessary day to day tasks through applying experience and knowledge and by doing so free up valuable Partner/Director time to service clients and make the decision to run the firm. The Practice Management services provide firms with the following opportunities:
- Experience – Our practice managers are experienced which means that firms can access their experience at an overall price that sits within their budget. The Practice Manager will have gained general experience in the marketplace from managing a range of legal and professional service environments and through doing so, firms can be assured of a high level of experience and expertise, at affordable rates.
- Cost Efficiency – By only paying for the time that is required by the firm the solution becomes very cost-effective. Due to the experience of the practice managers and their focus, tasks are completed efficiently and in the optimum time frame with all activity time recorded. This enables the firm’s owners and other managers to assess the impact of the service and the time taken to ensure it is and remains cost-effective at all times.
- Understanding – As with any role in the business, there needs to be a full understanding of the firm for it to be effective. Our Practice Manager will work with the firm, its staff, systems, clients and processes to ensure there is a full understanding of the requirement of the firm as a whole. The role will be adapted to meet those requirements. Through understanding the service, practice management is perfected, providing true value-added experience and knowledge that may otherwise be out of reach for firms due to experience or accessibility to recruited staff.
- Flexibility – Firms only pay for the time they need when they need it. As with any busy law firm, the need for a practice manager will fluctuate, with certain points of the year being busier than others. Therefore, as the year progresses so will the time spent by the practice manager. Core tasks will be completed as they are needed, and the time spent and fees will fluctuate in line with the firm’s requirements. The firm has full flexibility over the fees payable and stays in complete control throughout.
- Tailored – At the commencement of the service, we will work with the firm to set out, in detail, the role of the practice manager to ensure it meets the exact requirements of the firm. A role will be built that is bespoke to that firm and draws on the appropriate experience when it is needed. Through the building of the role in this way, it is very clear what is expected of the practice management and what the staff and other managers can expect. This also manages, very clearly, the time and cost required to be spent and through doing so enables the cost to be controlled and managed.
- Transparency – Our practice managers will time record the work they do providing full transparency of activity at all times. Our service is bespoke to each firm we work with. No one firm is the same and the needs of the owners and staff will differ. To respect this, our practice managers will update and adapt their role to fit the exact requirements of each firm. With a trusted practice manager operating within the firm, tasks get completed with efficiency and professionalism.
Get in touch
You can also call us on 020 3911 9710 or email us at firstname.lastname@example.org. At The Strategic Partner, we work to deliver cost-effective quality solutions to law firms, focused on driving efficiency and increasing profitability.