As a law and professional services firm, your focus should be first and foremost on your clients. It can be challenging to balance client needs with internal business operations, especially as the legal landscape continues to evolve. New technologies, new legal solutions, and new client needs all contribute to the complexity of managing a legal services firm.
With a whirlwind of workflows happening at any given moment, it can be easy to become lost in the process and lose track of tasks, to-do lists, and even completed projects. At the end of the day, your law and professional services firm should be focused on efficiency and growth to better serve clients, but there are processes in place that could be preventing you from achieving maximum growth potential.
A CPA Firm with Unique Solutions
The rise of technology in law and professional services firm can either be your best friend or worst enemy, depending on the internal processes that you have in place for routine law firm accounting operations such as audits, billing, and financial reporting.
Many law and professional services firm look to implement a one-size-fits-all solution to these problems, while failing to take a step back and take in the big picture. What is driving the processes at your law and professional services firm?
That’s where an outsider point of view can come in handy. At Odoni Partners LLC, we have the ability to approach your law and professional services firm from the perspective of an outsider, while understanding your particular organizational needs on a deeper level.
It can be hard to diagnose the problem when you’re knee-deep in the day-to-day activities of keeping your law and professional services firm running. We can offer a fresh, new perspective on processes that you may take for granted as inefficient and ineffective, such as with law firm accounting items like billing and audits.
Billing and audits don’t have to be rote–in fact, the way that you operate in these areas can be indicative of other problems in your law and professional services firm. On the other hand, if you can effectively manage regulatory, financial, and internal controls, you can unlock other areas for growth in your organization. However, it can be hard to manage these areas without the help of an expert. Odoni Partners LLC can streamline your operations, find new areas for growth, and manage professional & aw firm accounting needs–while you continue to do what you do best: service clients.
Our Team is Comprised of the Best Accountants in Chicago
Every number has a story–and the same holds true for financial reports. While you may be running financial reports that provide information on revenue, costs, and profitability, it’s important to remember that there is a story behind the numbers.
In order to make well-informed business decisions, you need to understand the story of not only what’s changing in your business, but what’s driving changes in profitability and growth. Those changes can be driven by outside influences, such as changing client needs, or can be internal, such as changing processes.
At Odoni Partners LLC, we are experts in serving clients–and therefore understand your needs as a firm dedicated to providing superior services to clients. At the heart of legal and professional service firms is a strong understanding of business principles, legal regulations, and tax needs.
Explore Our Law & Professional Bookkeeping Services
Unique regulations and requirements affecting operations such as Interest on Lawyers Trust Accounts (IOLTA), escrow accounts, and trust funds may be challenging for law and professional firms.
As a professional service firm itself, Odoni Partners LLC understands your management concerns. Whether you own a boutique firm or larger operation, we offer all the services you need to comply with state and federal regulations and achieve your business and financial goals. Some of our services include internal control review, monthly escrow, trust, and IOLTA reconciliation, financial statements compilation, review or audit and performance evaluation.
Our professionals are equipped with the technical know-how to help you improve efficiency and keep your financial reporting on track, and will provide personal attention to guide you through the challenges of a competitive marketplace. The types of clients that we serve in the legal and professional services encompass a broad range of areas, from traditional law firms to fashion designers. From our vast experience, we have seen many problems and have created just as many solutions for clients. It is likely that we have encountered and solved the problem that you’re facing! Don’t hesitate during your search into reliable, thorough Chicago CPA firms. Contact us today to find out how we can find solutions for you.
Across industries, regulations are constantly changing–and your competitors are changing their business models to keep up with changing technology and trends. That’s why we encourage you to take a step back and analyze your law and professional services firm–there may have been trends that you’ve overlooked.
An expert can also find synergies in your firm, identify cost savings, analyze new revenue streams, and figure out a tax strategy that works for your business–all within the context of new and exciting industry trends. From macro to business-level trends, we can find solutions for your law and professional services firm based on a combination of our expertise, business analysis, and industry-wide trends. If you’re looking to operate a more profitable, more successful business, we are here to guide you along the way.
Who We Serve
These are the industries we service through our law firm accounting:
Law firms, lobbyists and independent judges
Architect and engineering firms
Marketing, advertising, public relations, and interior design firms
Fashion and jewelry designers
Learn More About Our Services