New program – created financial assessment process to expedite file processing

National Law Firm

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Created a financial assessment program to organize clients based on financial capacity to pay.

The Opportunity

This practice was noticing that their ability to help their clients was largely tied to their clients’ capacity to pay their debt. We pitched a program whereby:

  • A financial assessment would be performed for the client.
  • Based on the outcome, the firm would decide what the trajectory of the case would look like.
  • The financial models would be used in making submissions to CRA.

What We Did

  • Researched scenarios for what our financial models would be based on.
  • Developed a main financial assessment template and then supporting models that worked behind it.
  • Implemented the program, including:
    • Administering the financial assessments for the first two years while we worked to build an in-house team.
    • Recruiting in-house staff to perform the financial assessments.
    • Establishing a relationship between the firm and a LIT to assist with insolvent customers.
    • Training staff to perform the assessments.

Project Outcome

  • The system functioned very well.
  • They were able to expedite casework based on more insights.
  • Increased the success of negotiations where the clients’ finances were a factor.

Where They Are Today

The system continues to be used today.