First 100 Days: Forecast a Profitable 2017!

The first 100 days of the year aren’t just important for POTUS. They matter for our businesses too. Today is day 108, and you aren’t too late to make a change. Forecast a profitable 2017 with these 5 tips.

Here are 5 tips to a VERY profitable 2017 for your organization! 

1.  Stop feeling stressed about your numbersThe economy, regulation, product pricing and consumer demand are no hurdles too high. Budgeting is no longer a tedious task that leaves an uncertain feeling about numbers. This is because there is a customizable solution and a rolling forecast.

2. Use a forecast to navigate your organization: Budgeting software makes setting a budget quick and easy. This grants more time to focus on an accurate forecast. Gain the necessary means to answer what-if scenario questions. Use your budget as a roadmap and your forecast to navigate through the future despite any risk or challenge you may face.

3. Be stronger than your opponent: There are other organizations that will face similar challenges as yours & not overcome them. For example, immediately understand the impact a 10% sales increase will have on your employees. Understand how that challenge effects your bottom line & cash flow. Don’t spending hours or days crunching numbers.

4. Efficiency is key: There will be companies struggling and spending copious amounts of time and effort trying to understand each of these scenarios, but with a budgeting and forecasting solution these are just “what-ifs” with an endless amount of answers that you can use to your advantage in the present moment or in the future.

5. 2017 Will be your best year yet:  Profit financially or even personally. With a budgeting and forecasting solution you can mitigate risk which leads to a significant jump in your company’s profit margin and success. With a tedious budgeting process, challenges you struggle to overcome, and an overall lack of confidence, it’s rare that you will find positivity and the chance to prosper. Eliminate inefficiency. Quickly overcome obstacles. Gain more time to spend on tasks that help your business profit tangibly. Finally, you will find time that you had no idea you could take advantage of.

SPRING FORWARD: Law Firms, we Have the TOOL to help with Changes

Law Firms 9DOTSThere is always risk in a client-law firm relationship. Times are changing. Clients want the risk that comes down to paying their lawyer to fall on the law firm in order to protect themselves from law firms passing operational inefficiencies onto clients. Consequently showering them with unnecessary cost in their bills. The client doesn’t want to pay more money because their lawyer is mismanaging time and resources. With tons of new technology, businesses booming & constant advancements, clients want lawyers to be more modern!

This presents its own challenges for lawyers and law firms alike. Firms now need the ability to predict costs and determine the right level of staffing to create profitable outcomes all while having to deliver world class services.

In today’s world, lawyers are not used to planning at this detailed of a level for each matter they’re managing. They are not project managers and lack experience and skill to manage matters in that way. I mentioned “modern times.” Law firms don’t want to hire a fleet of PMs to manage managers or ensure that matters stay within budget & timelines. Law firms don’t have the time to understand every dollar of the matter as a whole. Law firms try to only focus on staying profitable.

9DOTS sees this disconnect, clients & lawyers! It’s April, 9DOTS sprung forward. We are doing spring cleaning and preparing for many more years of profitable growth. 9DOTS currently recognizes a shift in process. Law firms are leveraging technology. Technology optimizes operational efficiency and maximizes profitably. Consequently lawyers easily get access to the information they need in order to bid an Alternate Fee Arrangement (AFA).

When bidding AFAs there are several factors that must be taken into account: duration,  efficiency, the level of personnel required, historical matter data, who did work, how much did it cost the firm, how much was realized, etc.

Traditional bids took none of this information into account!

Giving the workforce a simplistic web-based Matter Pricing Wizard/Tool for them to input basic information regarding a new matter, plan resources at a high level, and do comparatives to similar past matters will instantly give them the information needed to guarantee a profitable bid for their firm.

Law firms that leverage technology and business intelligence will be considered the leaders in this space and ensure AFA success for them and their firms. Keep up with the times, spring forward even after spring, and contact 9DOTS today for more information!