Outsourcing your Cashroom – It’s a business model not a service
It’s a concept lawyers used to get fired up about. Some law firms loved it; others hated it, or at the very least found it too daunting a thought. It appeared nothing divided a room full of legal professionals faster than the idea of sending some services out of house. Although some will still argue against it, outsourcing is now more important than ever for virtually every type of law firm business.
Pre-pandemic the idea of having every member of staff working in the office was almost considered sacrosanct. Fast forward to 2022 and agile/home working has not only been an adopted but becoming a necessity. Now that law firm leaders can see that this way of running their business can work there is no going back, leading to many being much more open to exploring versatile infrastructure requirements. The overwhelming advantages of outsourcing have always spoken for themselves. But now that more firms are accepting of the fact that the work can still get done, even if someone is not sitting right next to them. Many are drawing up plans to outsource work to third parties, with this now being viewed as an extension of their own team – a team that just work elsewhere.
Outsourcing is a Business Model
Many law firms now base their entire business plan around the delegation of functions to external service providers. The view they are now taking is that outsourcing is not simply a way of cutting costs; it is now a business model.
One law firm leader who can speak from personal experience of outsourcing numerous functions is Amanda Wilson, Managing Partner of Amanda Wilson Family Law, based in Dundee. Amanda outsources our Cashroom Services. She explains why that decision was made…
“One of the reasons for me leaving a “Big Firm” to set up my own practice in 2020 was so that I could focus on doing what I enjoy – the client work. However, I was very aware that I had been spoiled by being part of such a big organisation. Many of the compliance aspects of the job were done for me. I was also comfortable with the technology and support available to me there. I knew that I wanted to have a similar set up when I launched my own practice. However, as a sole practitioner starting from scratch, I wasn’t sure if that would be possible – from a cost perspective. After making enquiries, I was delighted to find that by outsourcing key roles, it was. I think many lawyers can be put off by the thought of outsourcing, but I couldn’t run my business without it, nor would I want to.”
“As lawyers, I am sure many of us could try to dabble in Cashroom procedures. But why bother? That is not for me, and I knew it would end up being a false economy. I was already impressed by Denovo’s case management facility, which I began to use when I launched my new business. I liked that they could also offer me the Cashroom facility. It meant I didn’t have to use another provider and could have the one supplier for both – having everything fully integrated is key to how I run my business. I was impressed that they have very experienced SOLAS qualified cashiers who have worked in private law firms previously. I also found the cost to be good value for money and wouldn’t dream of trying to do the Cashroom aspect myself.”
No Looking Back
She adds: “Ultimately, outsourcing saves me time and a lot of grief! I can relax knowing that my Cashroom is being handled by experts who know what they are doing better than me. I don’t need to recruit my own cashier, which saves more money and time. It makes my business more efficient and fully compliant. But what really sold the concept is how friendly and great the Denovo team are. Jacqui and the team keep our postings correct and they are always free to give advice. They get back to me quickly about any queries I have. Which is handy, as I tend to have lots!
I like to think I run a modern legal practice. Denovo systems help by allowing me to run an agile, paper free practice. I genuinely feel like the team at Denovo are part of my own team. There is always someone available to support me, whether that’s with postings or technology. Everyone there is very down to earth and friendly, but they really know their stuff too.
I’ve adopted this approach with other key areas as well, such as my HR and Payroll support, website, and PR. By doing this, making the jump from working at a firm with over 500 people to just 2 hasn’t been the shock to the system you might think. I have a great team of inspiring professionals around me, who I trust completely. I include the Denovo team in that. The work Denovo do in the background frees me up to focus on my client work and growing the business. I would encourage anyone else thinking of making the jump to seriously consider outsourcing. You won’t look back!”
Not using Outsourced Cashroom Services to help manage and grow your business? Visit our Outsourced Cashroom Services page for more info, call us on 0141 331 5290, or if you would prefer to write to us our email is email@example.com.