If you don’t have time to watch the video now, here are some highlights from our discussion.
Alex Young: It’s not just the partners and the associates that want speedy, efficient, timely MI. It’s more and more our clients are demanding it. They’ll make a phone call, and they expect someone to be able to press a few buttons and, bang, it’s there. At the moment, some of the processes that, particularly the larger firms, I’ll be honest, go through to extract a client-specific report, it makes your eyes water. It really does.
Graham Moore: It is about those foundations, isn’t it. It’s about getting your data capture, getting your structures right, and part of that is related to this back-office functionality, but that’s not the benefit. The benefit is not in storing data. The benefit is in what you do with that data once you’ve stored it, and how you can use that to drive your business, to make better decisions.
Mark Clark: To your point, Graham, about data, for me it’s about single version of the truth, and one of the problems with some of the existing systems that are now being updated is they have multiple data points with repeatable data across them. Data is great, and data is turned into information through management information systems and mass data management profiles and so forth, but then that creates decisions, and speed of decisions, which is what you’re talking about. Whether it’s the relationship with the client, whether it’s strategy, whether it’s whether a sector is working, whether it’s sharing knowledge and so forth, it’s all about, for me, single version of the truth, accessibility, and speed of transition between people. A good practice management system enables that. It doesn’t do it. It enables it. A bad one, as Alex is saying, from how long things take, can actually prevent good business, and goes back to my point of the client then feels that you’re not easy to do business with. You might be great as lawyers, but you’re hard to do business with.
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