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CFO Services for Law Firms

Achieve financial reporting and analysis that’s fast and accurate

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Experience the Strategic CFO Management We Offer Law Firms To Achieve Financial Brilliance

Law firms have unique accounting needs which are often handled by a too-small finance team or even the firm’s chief partner. With so many other responsibilities on a law firm’s plate, the firm’s finances may fall to the wayside. This leaves things like cash flow management, financial planning, tax compliance, and business forecasting as an afterthought.

We, as an outsourced CFO firm, can manage your legal finance software and train your in-house team to increase efficiency and accuracy. Through our strategic financial planning and decision-making, we’ll propel you into future growth and higher profit opportunities.

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At Notion CFO & Advisors, We Understand the Essential Need for a Controller To Handle the Unique Challenges of Running a Law Firm

Trust Account Compliance

Meticulously keeping track of IOLTA accounts and individual client funds while juggling different jurisdictions’ compliance takes up too much of a busy law firm’s time.

Consistent Cashflow

Law firms often experience irregular income due to client-based work or delays in client payments, preventing a steady stream of consistent income.

Complex Client Billing

It can be challenging to manage various billing models, including fixed-fee, contingent-fee, and hourly.

Legal Accounting & Case Management Software Program Integrations

Integrating highly detail-oriented legal accounting software with a law firm’s practice management program is essential, but it can often be confusing and frustrating.

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Our Outsourced CFO Services Will Optimize the Financial Needs of Your Law Firm

Let Notion CFO & Advisors enhance your reporting needs by integrating and updating the financial system your law firm already uses. 

We’ll help you train your in-house team and offer guidance to navigate through the ups and downs of variable revenue streams and an unpredictable cash flow. Let us get you out of the “feast or famine” cycle. Law firms require specialized tax reporting and legal compliance that can be hard to follow in the ever-changing landscape of legal finance regulations. Our comprehensive approach to law firm financials ensures your scalability will follow alongside your strategic growth plans.

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Controller Functions

By tailoring ways to establish and manage cloud-based financial systems for law firms, we ensure financial operations are seamless and scalable.
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Software Implementation & Upgrades

Our specialists will provide your law firm with complete implementation, integration, and optimization of your financial software, giving you complete visibility into your law firm’s performance and financial health.
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Internal Team Management

We’ll oversee and strengthen your law firm’s existing financial team to increase accountability, improve financial discipline, and enhance processing efficiency.
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Detailed Financial Reporting

We’ll give you a comprehensive financial analysis that transforms your law firm’s complex financial data into actionable and clean insights that align with the legal industry’s standards.
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Key Performance Indicator (KPI) Analysis

We assist law firms in measuring and analyzing their operational and financial metrics to track success and identify key areas for improvement. By tracking customer acquisition costs, profit margins, and other critical KPIs, we’ll supply you with data-driven insights to increase profits and improve efficiency.
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Cash Flow Forecasting

We equip law firms with cash flow budgeting, profitability guidance, insights to manage working capital, and increase business growth opportunities to end the vicious “feast or famine” rollercoaster.
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Tax Planning

We ensure your law firm is tax law compliant while minimizing liabilities and aligning with your objectives.
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Financial Analysis

We provide law firms with a thorough financial analysis to increase their confidence for future business growth decisions.
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Read What Our Clients Are Saying About Notion CFO & Advisory
I love working with Austin. He kindly answers all of my accounting questions quickly and thoroughly. This partnership has provided me with more growth in my professional career than any I've worked with in the past. They are hands down the best/most trustworthy company to work with.
Jessica C.
The team at Notion is critical to my small business functions. I am so pleased with their attention to detail with our unique accounting needs. I am so pleased to have Notion as our outsourced accounting team.
Kali B.
Notion is an incredible team, and our company has been fortunate enough to work with them for the past 8 years. Their expertise and dedication are unmatched, consistently delivering exceptional results. I highly recommend Notion to anyone seeking top-notch service!
Kyle L.
Read More 5-Star Reviews

How Outsourcing Your CFO Services for Your Law Firm Can Benefit Your Financial Future

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Data-Driven Practice Management

We’ll analyze the unique KPIs for the legal industry, such as realization rates, matter profitability, and collection cycles, to show which cases, clients, and practice areas are the most profitable.
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Improved Financial Reporting & Insights

Gain clear and accurate reporting from our expert financial analysis, enabling smarter decision-making, better KPI tracking, and real-time insights that align with current legal requirements.
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Improved Profitability

Professional CFO and controller services offer strategic budgeting and cash flow forecasting that will ensure profit stability and proactive planning for future expenses and investments.
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Ability To Scale

Your outsourced financial experts will provide you with proven guidance and insights that grow with you and your firm.
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Lower Overhead Costs

Outsourcing CFO services lowers law firms’ overhead costs by removing salary, benefits, software, and office space used by an in-house financial team. It will provide you with access to a team that continually stays up to date with all financial requirements needed for a law firm.
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Stronger Financial Control & Reporting Compliance

Outsourced financial controllers ensure accounting standards are met, establish robust internal controls, prepare law firms for audits, and remain up-to-date on evolving financial regulatory requirements.
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Here’s Why Choosing Notion CFO & Advisors as Your Law Firm’s Strategic CFO Partner Is Essential

We Aim for Vision Amplification & Strategic Innovation

We thrive on maximizing the financial performance for law firms; our team rejects status quo approaches to increasing your profit margins and sets you on the path to reaching your future financial priorities.

We Stay Ahead of Industry Trends

Our team prioritizes ongoing learning to stay up to date with the ever-evolving compliance requirements, industry best practices, and financial regulations for law firms and the legal industry. This allows us to offer our legal industry clients the knowledge they need to make informed decisions and prepare for long-term success.

We Take a Proactive Approach To Value Creation

We ensure our legal clients remain operating at top performance by finding opportunities for optimization, growth, and efficiency. By staying ahead of the market shifts, we can anticipate and prepare for financial and operational challenges before they arrive.

We’re Goal-Oriented

We will provide you with a clear game plan and industry-leading guidance to reach financial success. We will remain focused on setting and achieving strategic goals that will lay down the foundation for the upward scalability of your law firm.

FAQs About Outsourced CFO Services for Law Firms

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Yes! No law firm is too large or too small. We work with firms across the country and scale our CFO services to fit your law firm’s individual needs.

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We provide our law firm clients with strategic financial guidance and management services, including:

  • Pricing strategy
  • Forecasting
  • Analysis
  • Time-specific financial reporting
  • Tax planning
  • Financial statement preparation
  • Controller services
  • Cash flow
  • Financial software updating and integration
  • Lending solutions
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Outsourced CFO services for law firms:

  • Give you access to strategic financial experts
  • Reduce overhead costs by negating the need for a full-time employee
  • Remove the financial management burden from your firm’s shoulders

You can spend more time winning legal cases for your clients.

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Small to mid-sized businesses, startups, and companies experiencing growth, financial challenges, or major transitions can benefit from the strategic insights and cost-effective support of a fractional CFO.

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Just contact us to start your outsourced CFO lifeline. You’ll receive a scheduled free consultation where we’ll assess your law firm’s particular needs, discuss the services we provide, and set you up with a customized financial solution for your law firm.

Let’s partner up and bring your ideas to life.

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Email us today

info@notioncfo.com