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This book is designed for those running and operating a credit management system for law firms. With the many pressures on their finances, the law firm's focus on the need to generate cash has never been greater. Working capital is critical to law firms, to minimise borrowing and to maximise profits.
Alongside policies on quality of service, the professional firm must set up and operate a credit policy that is proactive and which successfully maximises profit whilst retaining client goodwill. That policy must pervade the whole firm - including not just credit managers and accounts staff, but fee-earners and their support staff too.