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Free diagnostic tool for law firms
How much money is your firm leaving on the table?
Most law firms lose 15 to 25% of potential revenue to billing delays, slow collections, and write-downs. Most do not know it. Find out in 60 seconds.
24+
Years finance experience
US · UK · AU
Markets served
11 to 250
FTE firm size range
Your firm's numbers · enter actuals or adjust the defaults
Billing lawyers only
Typical for most firms: ~1,400
Top firms: 98%+
Share of available lawyer hours actually billed. Hours not captured or written off before billing silently reduce this.
Billed hours / available hours
Top firms: 98%+
Of every dollar at standard rates, how much reaches the invoice. Write-downs and partner discounts erode this month by month.
Billed value / standard rate value
Top firms: 98%+
Of every dollar invoiced, how much lands in your bank. Unpaid invoices and post-billing write-offs reduce this.
Cash collected / total invoiced
Top firms: under 14 days
Days from work completed to invoice raised. Longer WIP locks cash and increases client dispute risk on older matters.
Work done to invoice raised. Best practice: under 21 days
Top firms: under 21 days
Days from invoice raised to cash received. Every extra day is an interest-free loan extended to your client.
Invoice raised to cash received. Best practice: under 30 days
Your firm is losing
$0
every year. Money you already earned but never collected.
$0 per month not reaching your bank
What is hurting your firm, ranked by impact
Your firm's diagnosis
Running analysis...
Cash in your bank (annual)
$0
What you actually received
Stuck in your system right now
$0
Sitting in WIP and unpaid invoices
You earned this but never received it
$0
Written off or never billed
►See benchmark comparison vs top firms
How you compare to top firms
Metric
Your firm
Top quartile
Median firm
Gap
What-if scenarios · drag from your number to explore
Utilisation
You entered: 75%
Effective rate75%
-30%75% (yours)+30%
No change
Adjust the slider to see the revenue impact
Realisation
You entered: 88%
Effective rate88%
-30%88% (yours)+30%
No change
Adjust the slider to see the revenue impact
Collection rate
You entered: 92%
Effective rate92%
-30%92% (yours)+8%
No change
Slide right to improve collections, left to see decline impact
WIP DSO
You entered: 35d
Effective DSO35d
-60d0+60d
No change
Minimum DSO enforced at 5 days
AR DSO
You entered: 42d
Effective DSO42d
-60d0+60d
No change
Minimum DSO enforced at 5 days
Combined scenario impact
$0
Move any slider to see the combined impact
Maximum recoverable if you reach top firm levels
$0
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Where your money is going (%)
Your top 3 fixes, personalised to your numbers
Calculating...
Enter your email to unlock your firm's personalised action plan. The three moves that will recover the most cash, fastest.
"Joel Schenk and his team have been game-changers for us. His strategic clarity, deep empathy, and hands-on approach helped us transform complexity into clear, actionable steps. He became an extension of our team from day one. He brought structure, focus, and peace of mind."
NH
N. Hepple, Director
HBA Legal, Law firm client
Ready to recover your lost revenue?
Book a free 30-minute call. We will review your firm's numbers, identify the biggest lever, and tell you exactly what to fix first.
Chartered Accountant specialising in financial operations for professional service firms across the US, UK, and Australia. MYF acts as your extended finance team, delivering the reporting quality of an in-house CFO at a fraction of the cost.