Law Firm Data and How It Can Be a Value-Add to Your Clients

Track: Process Improvement

Session Number: 141
Date: Wed, May 17th, 2017
Time: 11:00 AM - 12:00 PM

Description:

The use of law firm data has gone through a progression over the years. Before the legal industry started to go through its transformation, law firms used their data to assess the health of their law firms and was not used with regards to their relationship with the clients, except for the realization rate for each client. When the industry focus started to shift, some, and probably still not all, law firms started to use their data to better understand how effective they were delivering their services to their clients. Clients are now asking their law firms to use their data, not to determine the law firm’s delivery of services, but to be externally focused to assist their clients to, for example assess 1) can the client’s business policies / procedures be revised to reduce the need for legal services (eliminate certain litigation), 2) can certain documentation be revised to be more market friendly and reduce the cycle time of a transaction, 3) are the right resources doing the right tasks 4) can technology be utilized to create a more efficient process, 5) assist with the messaging and provide the metrics to the various target stakeholder groups.

Session Type: Expert Panel

Body of Knowledge (BOK) Domain: Client Services
Content Level: Advanced
Learning Objectives: • Evaluate the data professionals collect in a different way and how they can have conversations with their clients to bring this extra value.
• Discover what the client needs and how the law firm can collect, compile and report on the law firm’s data to supplement the data collected by the client.
Session Type: Expert Panel

Body of Knowledge (BOK) Domain: Client Services
Content Level: Advanced
Learning Objectives: • Evaluate the data professionals collect in a different way and how they can have conversations with their clients to bring this extra value.
• Discover what the client needs and how the law firm can collect, compile and report on the law firm’s data to supplement the data collected by the client.