Redwood Analytics

We've been quite busy around here with the rollout of the new LexisNexis/Redwood Planning Application so I thought this week I'd bring you some coverage of Redwood from around the web.

First off, Norm Mullock - Vice President, Product Strategy for LexisNexis Redwood Analytics will be presenting at the 2010 PLI Law Firm Leadership and Management Institute in February.  At this two day event Managing Partners, Chairmen (and women!), and Senior Partners as well as General Counsel, Chief Financial Officers and other legal professionals will gain a better understanding of what it takes to run a law firm and be successful in delivering a valuable service to clients.

Next, in his article "Alternative Fees Demand Improved Project Management" Steve Barrett, former CMO at Drinker Biddle and current consultant at Legal Business Development, discusses tools like Redwood Analytics' Business Intelligence Suite which can "slice and dice profitability, realization rates, efficiencies, etc.," and states that firms are not using them to their full advantage to manage profitability around alternative fees matters.  (In addition to managing the profitability of those matters in the BI Suite, users of Redwood's Planning Application can plan matters for maximum profitability and track actuals against these plans.)   It's a well written article on what we've been stressing all along in our Know Your Alternatives series - the rising importance of project management in managing changing law firm economics.

Last but certainly not least, David Sparkes, the managing director and founder of legalsupportnetwork.co.uk, wrote in his blog about the LexisNexis Redwood Analytics inaugural UK User Group.  We were happy to have him in attendance and look forward to the future of this group.