Increase Working Capital by $10M in One Year

Here’s how I’d do it:

1️⃣ Get the bills out faster

Most firms don’t have a billing problem: they have an “invoices sitting in attorney inboxes” problem.

I’d focus on automating billing exceptions so billers can work through high invoice volumes faster, while giving finance visibility and accountability when final delivery sits with the attorney.
Every delayed invoice is delayed working capital.

2️⃣ Make it dramatically easier for clients to pay

I’d implement a modern client payment portal with a smooth user experience. I’d accept credit cards because that’s what clients increasingly expect, while managing expenses by only accepting eChecks (ACH) for larger monthly payments.

I’d also attach invoice PDFs to every billing email so clients can immediately route invoices into their AP systems without extra effort.
Clients pay faster when paying is easy.

3️⃣ Transform collections into an AI-driven cash acceleration engine

I’d use real-time AI-driven analytics to constantly scan for opportunities to pull cash forward:
✅ Clients missing expected payment dates
✅ Clients with short pays
✅ Matters showing elevated credit risk before write-offs happen
✅ Large invoices likely to age without intervention

Start with the low-hanging fruit. Then run dynamic collection campaigns focused on the biggest opportunities identified by the data in real time.

What are the results after year one?
We’re already well past the first $10M.

By reducing total lockup by 20 days and improving collected realization by 150 basis points, the firm generates approximately $13.9M in additional working capital.

4️⃣ And now comes the bonus round

Put AI to work across the entire billing and collections lifecycle, uncovering where realization and lockup are getting stuck:
✅ By office
✅ By practice area
✅ By billing attorney
✅ By working attorney
✅ By client

Not just reporting: Insights + Action.
Which attorneys consistently delay billing?
Which practice groups generate the most write-downs?
Which clients are quietly extending payment cycles?
Where are invoices aging before they are even sent?

⏩ The reality is I’d do this in parallel, and the results from year one would be even more impressive.

The firms that win the next five years will not simply bill more hours: they will operate their revenue cycle with the precision of a modern financial institution.

That’s where the real working capital lives.