Law firms may be reporting strong top-line growth, but behind the numbers many are facing a more difficult financial reality. Write-offs, rate pressure, aged work in progress, billing delays, and slower collections can quietly erode profitability even when revenue appears strong.

This timely and practical session, led by Chris Sims, will explore why revenue growth can create a false sense of financial strength and what legal administrators need to watch more closely. Attendees will gain a clearer understanding of the operational and financial factors that determine whether work performed becomes profit and cash.

Designed for legal administrators and firm leaders, this program will translate complex financial concepts into practical business insight. The session will focus on the metrics and behaviors that most directly affect profitability, including realization, lockup, collections, margin leakage, and accountability. Participants will leave with a sharper lens for evaluating financial performance and a stronger understanding of how to help their firms protect profit in a more demanding legal market.

Key Takeaways

1. Why revenue growth can be misleading
   Understand why rising revenue does not always translate into stronger profit.
2. Where profitability is lost
   Identify the hidden points of erosion, including write-downs, billing delays, aged WIP, discounting, and slow collections.
3. Which metrics matter most
   Learn how realization, lockup, collections, and margin analysis provide a more accurate picture of firm performance than revenue alone.
4. How administrators can influence profit
   Explore the practical ways legal administrators can improve financial outcomes through stronger discipline, visibility, and follow-through.
5. What firms can do now
   Leave with actionable ideas to reduce margin leakage, improve cash conversion, and support stronger overall profitability.

Chris Sims

Chris Sims, CPA, is the Director of Finance at Shartsis Friese LLP in San Francisco, where he leads accounting and financial operations and partner compensation. 

CLM® Recertification Credit: 1.0 hour(s) in the subject area of Financial Management.

CLM® Application Credit for Functional Specialists: 1.00 hour(s) in the subject area of Financial Management towards the additional hours required of some Functional Specialists to fulfill the CLM application requirements.

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Media Disclaimer
Registrants to this meeting understand that publicity photographs, video and/or sound bites may be taken during the event and their image/photographic likeness/voice may appear in media taken during the event. By registering for the event, you hereby give permission that photos/video/audio containing your image/likeness/voice may be used for publicity or general information purposes including publication on the Golden Gate Chapter website, The Bridge newsletter or within other publicity which may be seen by the general public. The Golden Gate Chapter of the ALA will not seek any further permission nor provide any notification before using such media.

Meeting Contacts: Traci Yanez, Lilliane Villanueva, and Andy Hoedt