Ideas

LexisNexis is Green

LexisNexis is committed to environmental sustainability. These efforts are currently manifested in our reference literature offerings for law students.

 
DIY or Not?
More Partner Income

Syndication

We all have home improvement projects on our To Do list.  Are you a do-it-yourselfer or do you prefer to hire someone to get the job done right?  If you're like me you just keep procrastinating because you know you CAN do it, but you never seem to have time.  And then all of a sudden there's a leak or a drip or peeling paint gives way to rotting wood and now you HAVE to do it or there's going to be a real emergency and then you'll REALLY have to hire someone!  I suspect that many law firms are in this position with planning for annual client arrangements and general matter planning.  They know it's a good idea to plan but since this is not billable work it often gets pushed to the side.  And then suddenly you get an RFP from a good client, and you realize that they probably sent the same RFP to some other firms, and suddenly you've got competition for your best clients.

Redwood's new Planning Application is the solution for the do-it-yourselfer in this situation.  In addition to using it to model scenarios and respond to RFPs you can:

  • Examine how discounting affects profitability
  • Model/compare Alternative Fee Arrangements side by side
  • Determine optimal staffing levels
  • Track actual vs. plan: Drive performance!
  • Use historical data to enhance future operations and cost certainty
  • Utilize flexible software that configures to your firm's business model
  • Experience no installation hassles
  • Benefit from data and analysis that refreshes automatically
  • Control data access through built in security features 
  • Since we know that not everyone prefers to "do it themselves" you can also engage us to help you.  The Redwood Planning Service helps firm focus on 4 key initiatives for establishing a process to manage plans, alternatives arrangements, and profitability:

    • Training
    • People
    • Technology
    • Collaboration

    You'll be hearing more about both offerings from Redwood Analytics/LexisNexis in the coming weeks.  In the meanwhile, let us know if we can help you be a better do-it-yourselfer or if you want more information on the Planning Service.


    Posted Thu, Nov 12 2009 7:46 AM by MichelleStPierre

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