Morrison on Metrics: Tracking seasonal billing trends
The most variable metric law department managers track is outside counsel spending. This got me wondering whether there is much seasonality to the inflow of invoice amounts: Are there any patterns by month for how much gets billed to law departments?
June 27, 2011 at 08:35 AM
3 minute read
The original version of this story was published on Law.com
The most variable metric law department managers track is outside counsel spending. This got me wondering whether there is much seasonality to the inflow of invoice amounts: Are there any patterns by month for how much gets billed to law departments?
A priori, one might suppose that the need for external legal services shows a reasonable consistency during the course of a year, and that invoices arriving for those services, albeit delayed, match that consistency.
Some perturbations do, however, seem likely. Many retailers see their revenue clump into the end-of-year holiday period. And, of course, there are climate-based businesses–think ski lodges and water-skis. It is also reported that some deals are aggressively pushed toward the end of a company's fiscal year. Even so, the invoices of the law firms that work on those deals will not arrive until a month or so later.
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