Legal Financial Benchmarking
September 2009.
Markhams Auckland is once again conducting a financial benchmarking survey and asking Auckland legal firms to participate.
“Industry financial benchmarking is very important and our survey and subsequent report allows firms, confidentially, to compare their key performance indicators with similar firms in Auckland,” says Markhams director, Sam Bassett. “We often consult with our legal clients to help them develop strategies to improve various KPI’s to replicate industry best practice per the benchmarking survey.
“Given the current economic climate, it is vital to identify where your practice profitability can be improved and how successful competitor firms are structured. By participating in the survey, practitioners gain a concise and informative picture of the current status of the Auckland legal business that allows them to determine exact profitability and where a business sits in the local market. From this it is then possible to formulate plans to get ahead,” Mr Bassett says.
The report is due out 12 October 2009.
Sam Bassett and fellow Auckland director, Geoff Hatten also assist legal firms with valuation work and structuring issues surrounding practice incorporation or the admission or retirement of partners.
The findings of the survey are made available to firms’ participating. For more information contact Sam Bassett 09 309 6011 or email sam.bassett@markhams.co.nz
