Redwood Analytics

The economic challenges of 2009 have resulted in a growing demand within law firms for comprehensive client relationship, practice area and industry-footprint intelligence, as well as effective identification of the right business development opportunities.  From speaking with our law firm clients, we also understand that marketing and business development professionals in the legal industry are moving from more traditional communications and relationship roles to those of strategic targeting and expert prospecting.  Throughout this transition, business development professionals are challenged and encumbered by reliance on finance to obtain necessary information, and rely on manual processes and data often incongruent with the real needs of Business Development.

To meet the needs of this segment, LexisNexis Redwood Analytics recently launched the LexisNexis Redwood Business Development Application.

LexisNexis Redwood offers a solution with easy, direct access to firm activity and performance data to help firms gain clear, meaningful insights into business development opportunities by tracking the trends within different client segments, following the progression of client cross-sell, identifying patterns in a partner's book of business, or understanding the relationship between client age and client life cycle. 

Redwood Analytics Business Development is designed to meet such needs, providing:

• Direct access to firm financial and activity data that's organized to support business development activities
• Easy access and administration via a simple, Web-based interface
• Metrics and data groups that align with firm goals-cross-selling, ages, stages, top lists
• Ability to begin with what's known via saved views and reports
• Relevant, timely, actionable data due to nightly "refreshes"

And in order to truly present a 360 degree view of business development opportunities, integrations with atVantage and InterAction are underway and will surface in future releases mid-to-late 2010.

A 30 minute recorded demo of the product is available here.  Contact Jill Nelson for more information or to schedule a live demonstration of the LexisNexis Redwood Business Development Application.