In our new mini-series "Empowering Excellence" we chat to some of the ILFM's members about the benefits they've enjoyed through their membership, how it helps them both in their role day-to-day and more strategically, and the resources they find most useful.
First up is Ravi Lola, Finance Manager at Bowling & Co who has found the support offered by the ILFM community a particularly valuable benefit. Thank you so much Ravi, for giving us your thoughts on the ILFM and how we have helped you in your role.
Ravi Lola, Finance Manager, Bowling & Co
- Can you tell us a little about your role at Bowling & Co?
I look after all the management accounts at Bowling. I started as a cashier/accounts assistant and have worked my way up to Finance Manager.
- What motivated you to join the ILFM and how has it helped you so far?
I joined because I wanted to gain more of an insight into legal cashiering and be clear about how it should be run. I found that I had questions that I needed answers to, and the ILFM provides instant access to knowledge and support.
It’s helped me a huge amount - the people at the ILFM and the community at large have so much knowledge to impart and there’s an excellent support network. It’s like joining a big family, with like minded individuals!
- What benefits do you think membership of the ILFM provides?
It offers good networking and access to a good knowledge base, plus in the last 4-5 years that I’ve been a member I’ve completed lots of training and attended the annual conference.
- Do you use any of the resources that the ILFM offers in your day-to-day work?
Yes, I’m actually doing a course as we speak! The ILFM diploma. In terms of day to day work, if a question comes up that I’m not 100% sure on the answer to I know I can get help either from the online portals or by speaking to a member of the team.
They have also produced a very helpful book - The VAT guide for law firms - it’s really relevant and easy to use. The old SRA rules were very convoluted and hard to drill into to find the answer you were looking for but this provides user friendly guidance which is clear and concise.
- Can you give me any examples of how the membership has made an impact on your business?
It’s certainly improved the way we do things and professionalised our accounts team.
An example would be the ongoing VAT checks we are subject to. I have needed to tweak a few things due to advice I’ve received from the ILFM (and our external accountants) especially around how disbursements should be billed.
- What opportunities for professional development do you think the ILFM offers and why are they helpful?
They offer a great variety of networking opportunities, training on topical issues and of course the diplomas. I’d like to attend more but just don’t have the time at the moment!
- Have you attended any training or networking run by the ILFM and did you find it useful?
It’s been brilliant . I know there are a good range of sessions that would be relevant for me to try and attend in future.
- Have you attended our annual conferences and if so what value did they add to your role?
Yes, I attend the in-person annual conference which I always find very relevant. I like that the SRA also attend the conferences and there are always good external speakers who add value. It’s also just an enjoyable, well timed day where you can make face to face contacts and pick people’s brains who are in similar roles.
I must also say that the sponsors have always been very helpful and useful to chat to as well.
- Would you recommend membership to your contacts?
Yes definitely.
10. Can you sum up what you gain from the ILFM in three words?
Expertise, knowledge, development.
First published in Legal Futures 18th September 2024
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