The big picture
The firm’s payroll and finance functions were inefficient, which affected the firm’s ability to scale. In addition, the firm had missed out on substantial tax credits they could have claimed, representing missed opportunities for revenue optimization.
RSM approached the engagement as a cross-functional team, showcasing the firm’s ability to address all back-office and IT needs comprehensively. To overcome the firm’s initial concerns about relying on a single vendor, RSM built trust with the law firm's leadership and strove to integrate functions into flexible, smoothly running processes. This cohesive approach led to RSM assuming responsibility for all back-office functions, including IT, payroll, tax and finance.
To help the law firm develop a robust IT infrastructure, RSM modernized their tech stack, implementing structured communication cadences and instituting project management oversight. These improvements laid the groundwork for the further integration of finance and tax functions.
RSM’s solutions yielded significant benefits for the firm. By streamlining and optimizing back-office operations, RSM freed up the law firm’s leadership to focus on their core business. In less than four years, the law firm increased their caseload by approximately a factor of 10 and nearly doubled their revenue. Furthermore, RSM’s experience in budgeting and tax strategy allowed the firm to benefit from tax credits they had previously missed, creating additional opportunities for growth.
RSM’s holistic service model fostered speed and efficiency. It also simplified processes that might otherwise have required multiple vendors.
The COO says that RSM professionals have established effective communication with executive team members, and the two firms hold regular meetings. These touch points address issues across all their back-office functions, a process that would require substantially more time and effort if multiple vendors had to get involved for every question. With a more structured IT system, a more robust accounting infrastructure and a strategic tax plan in place, the firm is well positioned to grow.