Ready 4 Business: Dealing With the Economic Downturn

Submitted by admin on Fri, 03/07/2008 - 12:43.
Description: 

Ready 4 Business is a business simulation that effectively tackles the key financial issues that your fee earners should be addressing on a daily basis. It will encompass all the issues that firms are facing in the current economic climate - from pressure on fees and margins, high lockup, cost control, cash flow and forecasting to the impact on profit of interest on overdraft and loan finance.
 

Objectives: 
  • Grasp financial targets
  • Break down the barriers of financial jargon
  • Ensure people understand the effects of their decisions on profit
  • Improve working capital management
  • Identify the difference in turnover versus profit
  • Profit versus cash in a downturn and good cash management
  • Importance of fixed and variable costs
  • Improved cash flow
  • Reduce lockup
  • Increased profitability

 

Benefits: 
  • Improve utilisation
  • Raise chargeable hours
  • Reduce lockup
  • Increase Fees/Fee Earner
  • Improve recovery
  • Improve cash flow and billing
  • Reduce interest costs
  • Increase profits

 

Who Should Attend?: 

Partners, managers and everyone involved in client facing work, raising fee notes and following these up with clients.