Chief Financial Officer Chicago and Director of Pricing for North American at Baker McKenzie LLP
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Andrew’s ability to translate business requirements into technical solutions that are practical & comprehensive while maintaining a level of quality that our users would expect is a sub-set of why BOSYN is privileged to have Andrew as CTO. Andrew gets excited when he knows his users feel their business is receiving real value from his solution suite. BOSYN welcomes Andrew’s broad range of skills from strategy to architecture to development and beyond. BOSYN is in good hands with Andrew leading the technical team.
With decades of experience in technology, Andrew has designed, implemented, and brought to market Software as a Service solutions that helped grow Textura Corporation from a good idea to a $650MM publicly traded company. Prior to Textura, Andrew improved risk management and trade execution latency for several financial services companies. Andrew studied physics at Rensselaer Polytechnic Institute and Michigan State University.
In an effort to expand its reach in legal, BOSYN will be attending a conference called “A Law Firm’s Practical Guide to Pricing and Profitability” in Chicago on September 13-14, 2017.
The conference, hosted by event planner Marcus Evans and chaired by Reed Smith LLP, is geared towards law firms’ pricing function. BOSYN intends to showcase its first product, Step One (S1), with the hopes of exciting potential customers about the benefits the tool can bring to their firm.
Additionally, a former customer of The Pennsy Group (BOSYN’s founders) will be discussing how an early version of S1 has driven an increase in firm profit by 9% without influencing client demand.
This topic and the success of the solution will be covered in detail during a breakout session titled “Evolving Your Firm’s Financial Vision through Pricing Processes at the Industry, Practice, and Partner Level” on Day 2 @ 8:45AM CST. BOSYN Co-founders and VP of Customer Success will also be attending the session.
For those attending the session with an interest in S1, BOSYN would like to talk with you!
Please reach out to info@bosynllc.com or call 872-802-1557.
BOSYN is preparing to bring its first product to market; S1 (Step One) is in final development and testing. S1 will enable pricing professionals to store rate arrangement data in the cloud, which will persist and interact with users as compliance events approach. Centralizing the capture and management of rate arrangement information in a uniform data structure with standard classifications and categorizations creates a powerful platform from which CFOs may initiate a multiple-step strategy to enhance and improve all aspects of their firms’ pricing policy and practices. BOSYN expects that S1 will be implemented as an enterprise solution and, therefore, is planning to provide both process and data integration capabilities for applicable Business Intake and Billing systems.
BOSYN CEO, CTO, Co-founder, and accomplished data architect Chip Cherry comments that, “Through our extensive industry experience (as The Pennsy Group) and independent research, we recognized that many law firms struggle to manage client-specific billing rates. While the complexities and scale of the problem are certainly influenced by the current market, the industry’s ability to develop an effective and efficient solution for this problem is blocked by a prevalent gap in its historical systems infrastructure. The result is that law firms are losing revenue, extending their collection times (thereby increasing their working capital requirements), and incurring additional costs, all of which directly impact law firm profit. Providing a robust and sophisticated yet straight-forward architecture for Rate Arrangement data collection and classification, which is the primary intent of S1, will enable law firms to improve the accuracy of billing rates, gain valuable insights to support decision making, and most importantly, increase profitability. We’re very excited to bring Step 1 to market!”
S1 will be available for implementation in Q4 of 2017 – reach out to BOSYN for a demo. Email info@bosynllc.com or call 872-802-1557.
By leveraging BOSYN’s purpose-built, cloud-based solutions, customers can rapidly experience benefits and will always have the most up-to-date version of our tools.
Working with BOSYN grants access to a dedicated implementation team that will partner closely with customers to maximize value from our solutions
BOSYN’s approach to ensuring customer success begins with engaging with and understanding our customer’s environment and goals
Establish an authoritative source for pricing agreements; Increase effectiveness of partners & staff when troubleshooting pricing disputes; Enable comprehensive compliance with Firm pricing policies
Our cloud-based legal billing software helps minimize revenue loss due to inconsistent billing practices in your law firm.
BOSYN is an acronym for our company’s official name, Back Office Synergies LLC. The concept of synergy and alignment between your back-office operations and your client-facing side is at the core of our business philosophy.
Chip’s passion and vision are to provide the legal industry with robust and elegant data structures for operational data that facilitate for each BOSYN customer the fullest possible realization of the value inherent in their digital assets. Chip is excited to create purpose-built solutions to provide the capabilities and opportunities that law firm executives and partners have been pondering and asking for as the shift from a seller’s to a buyer’s market for legal services has exposed numerous issues within the industry’s historical systems infrastructure. With a large toolkit of leadership techniques and capabilities based on decades of international, enterprise client project work, Chip’s vision for and direction of BOSYN’s technical, product, and executive teams sets an ideal foundation for a company culture focused on delivering customer value.
Chip has served the legal industry since 2009 as a Principal of The Pennsy Group LTD, where engagements were focused on helping the back office of law firms better understand and manage the firm’s client relationships, starting with their contractual agreements. Before Pennsy, Chip was one of the first employees of Textura Corporation (acquired by Oracle in 2016) where his responsibilities included solution architecture and design, customer acquisition and implementation, and hiring and training of the subsequent operations leadership team. Prior to Textura, Chip was a nationally-recognized data architect within PricewaterhouseCoopers Consulting’s System Integration practice. Chip has an MBA from The University of Virginia Darden School of Business.
- CONDUCTOR is built specifically for law firms like yours
- Our system is cloud-based and mobile-friendly, so you can access it from anywhere
- CONDUCTOR was created to eliminate billing discrepancies so that you can maximize your firm’s revenue
Working with BOSYN helped us identify losses in our billing processes of up to 7% because of mistakes on our invoices. We have now reduced our losses to 0%!
Comply with pricing agreements by alerting teams of required actions to proactively ensure accurate Accounting & Billing system setup; increase visibility to e-Billing Timekeeper setup requirements and lead times
Equip pricing team resources with a purpose-built solution to effectively manage a greater percentage of the firm’s client pricing agreements; increase productivity for all resources involved in pricing processes
Leverage standardized data for insight into Firm’s current pricing practices and to prioritize and validate opportunities for improvement; enable on-going analysis of historical and current pricing agreements
Simple back-office billing solutions for law firms
Back Office Synergies (BOSYN) was established in 2017 as a LegalTech provider of data-focused business operations and management solutions for the legal industry. Its initial focus is to help Enterprise Law CFOs increase profits without influencing client demand by improving the firm’s timekeeper rate maintenance practices (e.g. processes, data governance, etc.), leveraging a new SaaS solution, which was proven as a prototype to lift partner profits by as much as 5% of annual revenue.
BOSYN’s roots stem from nearly a decade of providing consulting services to the back offices of law firms as The Pennsy Group. Viewing this experience through a forward-looking lens, it became increasingly clear that the company could deliver exponentially greater value to the legal industry by developing and leveraging purpose-built technical tools in conjunction with consultative services. From this vision, BOSYN was born.
In order to tap into the start-up scene in Chicago, BOSYN has joined the tech incubator 1871. Founded in 2012 with strong support from city officials, 1871 has the intention of putting Chicago’s digital start-up scene on the map. Located in Chicago’s historic Merchandise Mart, BOSYN has found what it hopes will be a launch-pad for growth.
Co-founder and CEO, CTO Chip Cherry remarks, “1871 offers us a dynamic and interactive space that let’s BOSYN engage with the digital community. As new companies and ideas circle around the reality that data is this generation’s most valuable asset, the alignment to BOSYN is apparent. Further, the connection between 1871 and the city we love adds to the excitement!”
On May 16, 2017, after 7 years dedicated to the legal back office in a consulting services capacity, The Pennsy Group LTD has launched a new entity: Back Office Synergies LLC (BOSYN). BOSYN will be product oriented, focused on the desire to serve a broader customer base in enterprise law firms. The pivot to BOSYN returns the Co-founders, Chip Cherry (CEO, CTO) and Terry Graber (COO), to their entrepreneurial roots in product design, development, and implementation.
Commenting on the pivot to BOSYN, co-founder and COO Terry Graber observed, “We knew that to better serve our clients, and the industry as a whole, we would need to introduce tools to capture data not yet fully understood. It’s the combination of tools with services that excites us about BOSYN’s future as a vendor serving Legal. The industry is missing a vendor that understands business pain, develops purpose-built tools, and provides services to assist customers while they embrace the change.”
BOSYN can be contacted at the following 312.399.8131 or info@bosynllc.com.
