Toptal builds integrated financial forecasting model to improve strategic decision-making for legal firm.
A litigation firm partnered with Toptal to build an integrated financial forecasting model, ultimately transforming its broader finance function and creating a more reliable foundation for strategic decision-making.
Client
An Australia-based commercial litigation firm handling complex disputes for corporate and government clients.
Revenue
Industry
Legal ServicesDelivered Services
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The firm needed to understand its true cash generation and capacity to hire, but inconsistent revenue reporting, cash-basis accounting, unreconciled data, and the absence of a monthly close made reliable forecasting difficult. It needed a financial foundation it could trust for major strategic decisions.
Solution
Integrated Financial Model
Toptal built a three-statement forecasting model incorporating 33 months of historical data, bottom-up revenue and cost drivers, headcount planning, partner commissions, scenario analysis, and long-range forecasting.
Finance Function Transformation
Toptal redesigned the chart of accounts, corrected revenue and cost treatment, reconciled financial data, and established a documented 12-step monthly close process that the internal finance team could manage independently.
Outcome
Accurate Assessments
The financial model implementation yielded accurate assessments of cash-generation capabilities and hiring potential, revealing six material discrepancies in revenue reporting that could mislead strategic decision-making.
Decision-ready Finance Foundation
The firm gained a validated 45-sheet model with approximately 92,000 live formulas, 26 automated checks, and zero formula errors, alongside a repeatable monthly close and stronger foundation for future investment or transaction planning.
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