Cost recovery does not end by adopting nQueue, Billback, Copitrak, or any other software recovery platform. In fact, that’s where it begins.
I have seen firms with strong technology nevertheless fail to optimize their recovery through a comprehensive strategy. The firms that succeed are differentiated by their willingness to build strategy aligned with the culture of the entire firm.
These firms examine their clients and what they are willing to reimburse; they look at how their attorneys are working; and, lastly, they examine the structure of their back and middle office operations and how they should be structured to minimize expense and increase recovery.
Here are five simple steps to substantially enhance the strategy of cost recovery in your firm.