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Reed Smith Deploys LexisNexis Market Intelligence to Identify Business Development Opportunities & Provide Enhanced Client Service
Tool helps firms quickly analyze market trends and competitive environment-
DAYTON, OH, September 21, 2005 - LexisNexis, a global leader in comprehensive and authoritative legal, news and business information and tailored applications, today announced that the international law firm Reed Smith LLP has purchased and deployed LexisNexis® Market Intelligence to support the firm’s business development strategy. LexisNexis Market Intelligence provides the most comprehensive news, business and court-record based litigation coverage of a law firm’s clients and prospects, facilitating quick, smart decisions about targeting and cross-selling.
"We’ve been very pleased with the information we gather from Market Intelligence because it helps us identify specific opportunities for business development, as well as keep our eyes on the service offerings of other law firms," said Mike Scherpereel, Director of Marketing at Reed Smith LLP. "It’s particularly helpful to be able to obtain all of this information from one respected source, rather than seeking it out from multiple external data providers."
Market Intelligence is one product within a growing portfolio of LexisNexis client development tools and services designed to help law firms generate more revenues from their existing client base as well as find, win and keep new clients. LexisNexis’ history of offering products that deliver cost savings and high ROI was a significant factor for Reed Smith in choosing the Market Intelligence tool.
"LexisNexis is an established and highly regarded brand in the legal marketplace that has an excellent reputation for providing high quality information and client development capabilities," explained Scherpereel.
Market Intelligence enables Reed Smith’s business development teams to quickly research and profile prospective clients’ businesses, their current and past litigation history, and the law firms currently representing it. Reed Smith can also generate market share reports to compare its share of clients relative to that of competing firms. "These profiles and reports are extremely useful in helping us craft our business development strategy and prepare for client presentations and RFPs," said Scherpereel.
Market Intelligence also enhances a firm’s ability to anticipate client needs and provide more proactive client service through automated alerts, powered by LexisNexis® Courtlink®, which provide e-mail notifications when a specified client or prospect has been sued. "These alerts let us move quickly to respond to a client’s litigation needs – sometimes before the client is even aware it’s been sued," said Scherpereel.
"We’re delighted that Reed Smith has made an investment in LexisNexis Market Intelligence as part of their strategy for gaining a competitive advantage in the marketplace with faster and more pro-active client service," said Mike Walsh, senior vice president of large law and national law at LexisNexis. "There is a rapidly growing list of leading law firms that are discovering the substantial value and ROI our product offers in an increasingly competitive landscape for client development."
About LexisNexis
LexisNexis® (www.lexisnexis.com) is a leader in comprehensive and authoritative legal, news and business information and tailored applications. A member of Reed Elsevier Group plc [NYSE: ENL; NYSE: RUK] (www.reedelsevier.com), the company does business in 100 countries with 13,000 employees worldwide. In addition to its flagship Web-based Lexis® and Nexis® research services, the company includes some of the world’s most respected legal publishers such as Martindale-Hubbell, Matthew Bender, Butterworths, JurisClasseur, Abeledo-Perrot and Orac.
In the United States, LexisNexis offers its customers total practice solutions comprised of an extensive range of online and print legal, regulatory, news and business information products, tools, customized Web applications and critical filing services that help legal professionals grow their business, win cases and manage their practice.
About Reed Smith
Reed Smith LLP, a top-25 international law firm with 1,000 lawyers located in offices throughout the United States and Europe, represents Fortune 100 as well as mid-market and emerging companies. Clients include financial services and investment firms, life sciences companies, health care providers, technology companies and entrepreneurs, power generators and suppliers, manufacturers, universities, non-profit organizations, real estate developers, and municipalities throughout the United States and in 40 countries. For more information, visit www.reedsmith.com.
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