A Key Mid-Year Priority
As we enter the second half of the year, it is essential that we shift our collective focus to timely invoicing, proactive collection of outstanding accounts, and the effective management of work in progress.
Why This Is Important Now:
With the June 30 milestone behind us, many engagements have reached completion or are substantially complete. The coming weeks present a critical window to:
- Ensure completed work is billed without delay
- Follow up on outstanding client invoices
This process directly supports our firm’s financial health, enhances client service, and allows teams to allocate resources more efficiently. Our ability to realize the value of completed work depends on these actions
The Broader Impact:
- Delays in invoicing result in delayed cash flow
- Outstanding receivables increase the risk of write-offs and consume additional administrative effort
What Everyone Can Do:
- Partners and Managers: Review all active files and identify work completed. Work with your iFirm Champ to prepare and issue invoices
- Engagement Teams: Update job notes, escalate files that may require special review
- Administrative Teams: Continue monitoring outstanding balances and support follow-up efforts
Thank you for your continued focus and attention. These efforts are essential to maintaining strong financial stewardship as we look ahead to our year-end.
For questions or concerns, please reach out to Susanne MacMahon.