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RETURN TO MAIN Current Awareness: Critical Information Management Tools ILTA 2007 Dennis Kennedy, Doug Hoover, Meredith Williams August 22, 2007.

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Presentation on theme: "RETURN TO MAIN Current Awareness: Critical Information Management Tools ILTA 2007 Dennis Kennedy, Doug Hoover, Meredith Williams August 22, 2007."— Presentation transcript:

1 RETURN TO MAIN Current Awareness: Critical Information Management Tools ILTA 2007 Dennis Kennedy, Doug Hoover, Meredith Williams August 22, 2007

2 RETURN TO MAIN Our Goal Get you the info you need to make an informed decision about this technology

3 RETURN TO MAIN Our Information Environment Information SilosInformation Silos Information OverloadInformation Overload Information UnderloadInformation Underload Continuous Partial AttentionContinuous Partial Attention

4 RETURN TO MAIN Our Current Problems Must Visit Too Many PlacesMust Visit Too Many Places Spam InterferenceSpam Interference Too Many SilosToo Many Silos Disappearing InformationDisappearing Information Information FatigueInformation Fatigue

5 RETURN TO MAIN Beyond the Hunter/ Gatherer Era The Limits of SearchThe Limits of Search Email UpdatesEmail Updates Alerts, Intelligent AgentsAlerts, Intelligent Agents RSS, Feeds and BeyondRSS, Feeds and Beyond The Daily MeThe Daily Me Actionable IntelligenceActionable Intelligence

6 RETURN TO MAINRSS Really Simple SyndicationReally Simple Syndication A family of web feed formats used to publish frequently updated content such as blog entries, news headlines or podcasts.– Wikipedia (7/30/2007)A family of web feed formats used to publish frequently updated content such as blog entries, news headlines or podcasts.– Wikipedia (7/30/2007) RSS formats are specified using XMLRSS formats are specified using XML

7 RETURN TO MAIN News that comes to you J.D. Lasica

8 RETURN TO MAIN Life-altering technology Dennis Kennedy, 2003 (Law Practice Magazine article)

9 RETURN TO MAIN A Few Basic Concepts RSS and newsfeedsRSS and newsfeeds A word about feed flavorsA word about feed flavors Newsreaders / aggregatorsNewsreaders / aggregators Web newsreadersWeb newsreaders Incoming, but also outgoingIncoming, but also outgoing

10 RETURN TO MAIN A closer look at news readers and aggregation

11 RETURN TO MAIN Newsreaders let you triage and manage information and bring you information you can act upon

12 RETURN TO MAIN A Quick Newsreader Demo

13 RETURN TO MAIN Using Feeds Understanding the Wide Range of FeedsUnderstanding the Wide Range of Feeds Several PhilosophiesSeveral Philosophies Finding FeedsFinding Feeds

14 RETURN TO MAIN More control over your information?

15 RETURN TO MAIN Improve efficiency?

16 RETURN TO MAIN Enhance quality of information you receive?

17 RETURN TO MAIN From awareness to action – Actionable intelligence?

18 RETURN TO MAIN Must RSS be part of mix?

19 RETURN TO MAIN Enough theory! Lets get practical

20 © Copyright, Thomson West, 2007 Ready, Willing and Able? Client Awareness in US Law Firms Doug Hoover – Thomson West

21 © Copyright, Thomson West, 2007 RETURN TO MAIN Types of Models Decisive: decisions are imposed from the top down by a hierarchy that is empowered to take responsibility and guide an organization with deliberate and orderly decisions executed from positions of power and trust based on their years of practical experience and ability to recognize and evaluate when risk or reward presents itself to the firm. Incisive: It is a wholly opposite, often chaotic, yet complimentary, even compulsory, set of dynamics that can vary many times greater in number and range of impact and occur mostly outside the control of decision makers and is exposed from the bottom-up. Source: Arik Johnson, Aurora WDC Managing Director

22 © Copyright, Thomson West, 2007 RETURN TO MAIN Compile Client & Competitive Intelligence Process Data Collection Information Knowledge Intelligence Decision Results Analyze CommunicateApply Act Adapted from William Y Wilson, NextStep and Timothy W. Powell, InfoStrat Feedback ©Thomson West – all rights reserved Purpose

23 © Copyright, Thomson West, 2007 RETURN TO MAIN Compile Data Collection Information Knowledge Intelligence Decision Results Analyze CommunicateApply Act Adapted from William Y Wilson, NextStep and Timothy W. Powell, InfoStrat Decision Makers - Practice Group Partners - Attorneys - Business Dev/Sales Marketing and Practice Area Partners Library – Secondary data Client & Competitive Intelligence Process in Law Firms Finance / Business Mgmt Marketing /Bus Dev Feedback Marketing – Primary data ©Thomson West – all rights reserved Purpose

24 © Copyright, Thomson West, 2007 RETURN TO MAIN Web Survey Respondents Demographics Respondents Demographics Note: Other includes: business development administrator, market research analyst, marketing coordinator, director of marketing and business development, CRM manager, competitive intelligence specialist, client relations administrator, director of research services

25 © Copyright, Thomson West, 2007 RETURN TO MAIN Organizational Structure Responsibility for Client Awareness Activities Responsibility for Client Awareness / Market Intelligence Activities Note: Other includes: attorneys, paralegals, and committees (comprised by partners and attorneys)

26 © Copyright, Thomson West, 2007 RETURN TO MAIN Organizational Approach Firms with CI-Dedicated Staff FTEs Dedicated to Competitive / Market Intelligence Activities Number of Full-time Equivalents (FTEs) Dedicated to Competitive / Market Intelligence Activities – By Size 1 1. Only for firms with dedicated FTEs

27 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Helping Attorneys Prepare for Client Meetings Common Activities: Preparing material that describes the firm and its capabilities Creating a business and financial overview of the company Coaching the attorney on presentation and sales skills or preparing probing questions Identifying legal activities that are potentially important to the prospective client and mapping to the firms capabilities Performed by Most Sophisticated Firms: Determining the potential client's legal activities by legal issues, geography, and law firm used based on court dockets, transactions, court cases, etc. Common Activities: Preparing material that describes the firm and its capabilities Creating a business and financial overview of the company Coaching the attorney on presentation and sales skills or preparing probing questions Identifying legal activities that are potentially important to the prospective client and mapping to the firms capabilities Performed by Most Sophisticated Firms: Determining the potential client's legal activities by legal issues, geography, and law firm used based on court dockets, transactions, court cases, etc. Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Evaluating a Merger or Hiring of a Lateral Group Evaluating Opening a New Office or Practice Area There are 6 main client intelligence activities

28 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Helping Prepare an RFP Response Common Activities: Managing the RFP process Providing a tailored overview of the firms capabilities for input to the RFP Providing input on the make-up of the team that will present from your firm Analyzing the firm's experience in the prospective client's industry and in the relevant legal issues covered by the RFP Performed by Most Sophisticated Firms: Analyzing the strengths and weaknesses of competing law firms to determine how to best position the firm for the RFP Analyzing the actual relevant legal experience of competing law firms to systematically analyze experience and capabilities of competitors Common Activities: Managing the RFP process Providing a tailored overview of the firms capabilities for input to the RFP Providing input on the make-up of the team that will present from your firm Analyzing the firm's experience in the prospective client's industry and in the relevant legal issues covered by the RFP Performed by Most Sophisticated Firms: Analyzing the strengths and weaknesses of competing law firms to determine how to best position the firm for the RFP Analyzing the actual relevant legal experience of competing law firms to systematically analyze experience and capabilities of competitors Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Evaluating a Merger or Hiring of a Lateral Group Evaluating Opening a New Office or Practice Area

29 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Identifying Prospective Clients Common Activities: Identifying major companies near the firms offices Performed by Most Sophisticated Firms: Identifying major corporations in industries that are a good fit with the firms experience and practice areas Identifying major companies near the firm's offices that are major consumers of legal services in practice areas that are a good fit with the firm Common Activities: Identifying major companies near the firms offices Performed by Most Sophisticated Firms: Identifying major corporations in industries that are a good fit with the firms experience and practice areas Identifying major companies near the firm's offices that are major consumers of legal services in practice areas that are a good fit with the firm Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Evaluating a Merger or Hiring of a Lateral Group Evaluating Opening a New Office or Practice Area

30 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Evaluating a Merger or Hiring of a Lateral Group Evaluating Opening a New Office or Practice Area Common Activities: Analyzing the other firms revenue by practice area for top clients and identify low revenue practice areas which should represent a significant cross-selling opportunity Performed by Most Sophisticated Firms: Analyzing the actual legal activity of major clients and identify practice areas with significant client legal activity, but low use of your firm Analyzing the other firms that are working with your key clients, and determine what that means in terms of threats and opportunities Common Activities: Analyzing the other firms revenue by practice area for top clients and identify low revenue practice areas which should represent a significant cross-selling opportunity Performed by Most Sophisticated Firms: Analyzing the actual legal activity of major clients and identify practice areas with significant client legal activity, but low use of your firm Analyzing the other firms that are working with your key clients, and determine what that means in terms of threats and opportunities

31 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Evaluating a Merger or Hiring of a Lateral Group Evaluating a Merger or Hiring of a Lateral Group Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Evaluating Opening a New Office or Practice Area Common Activities: Analyzing overlap of major clients and legal activities based on actual legal activity Analyzing the overlap of major clients with the firms clients Performed by Most Sophisticated Firms: Confirming the experience of the candidates Common Activities: Analyzing overlap of major clients and legal activities based on actual legal activity Analyzing the overlap of major clients with the firms clients Performed by Most Sophisticated Firms: Confirming the experience of the candidates

32 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Evaluating Opening a New Office or Practice Area Evaluating Opening a New Office or Practice Area Helping Attorneys Prepare for Client Meetings Helping Prepare An RFP Response Identifying Prospective Clients Identifying Prospective Clients Identifying Cross-Selling Opportunities Identifying Cross-Selling Opportunities Evaluating a Merger or Hiring of a Lateral Group Common Activities: Analyzing the capabilities of competitive law firms in a specific market Analyzing size and growth of legal market in geographic area or practice area Performed by Most Sophisticated Firms: Analyzing the actual legal activity in a geographic area or practice area Common Activities: Analyzing the capabilities of competitive law firms in a specific market Analyzing size and growth of legal market in geographic area or practice area Performed by Most Sophisticated Firms: Analyzing the actual legal activity in a geographic area or practice area

33 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Major Law Firm Segments by Level of Sophistication Basic Aggregators Aggregators Reactive Analyzers Key Attributes Organization Products Used Proactive Analyzers Usually, have dedicated staff in marketing or library Continuously and proactively, analyze competitive intelligence data and monitor legal activities Continuous use of high-value CI information and analytic products Decreasing Client Intelligence Sophistication Key Tasks Monitor legal activities to: –Evaluate firm growth opportunities –Identify cross-selling opportunities and new clients

34 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Major Law Firm Segments by Level of Sophistication Basic Aggregators Aggregators Reactive Analyzers Proactive Analyzers May have dedicated FTEs in marketing or library Aggregate and analyze competitive intelligence data in response to attorneys requests No / limited ongoing monitoring of legal activities Moderate use of value-add sources (e.g. Hoovers, D&B) Moderate use of high-value add CI products Decreasing Client Intelligence Sophistication Analyze legal activities to: –Identify cross-selling opportunities and new clients Key Attributes Organization Products Used Key Tasks

35 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Major Law Firm Segments by Level of Sophistication Basic Aggregators Aggregators Reactive Analyzers Proactive Analyzers Marketing / library staff collect, repackage, summarize, and distribute CI information to attorneys –No / limited additional analysis conducted –Mainly, prepare executive summaries Rarely have CI FTEs in marketing or library Public or basic research products Moderate use of value-add sources (e.g. Hoovers, D&B) Limited use of high-value add CI products, Decreasing Client Intelligence Sophistication Aggregate data to: –Help attorneys prepare for client meetings Key Attributes Organization Products Used Key Tasks

36 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Major Law Firm Segments by Level of Sophistication Basic Aggregators Aggregators Reactive Analyzers Marketing / library staff collect and distribute raw data to attorneys with little to no additional summarizing / analysis Proactive Analyzers No CI dedicated staff Most research (50%+) conducted using public or basic research products Decreasing Client Intelligence Sophistication Aggregate data to: –Identify cross-selling opportunities and new clients –Help attorneys prepare for client meetings Key Attributes Organization Products Used Key Tasks

37 © Copyright, Thomson West, 2007 RETURN TO MAIN Sophistication of Law Firms Sophistication of Law Firms By Size Sophistication of Law Firms – By Size Sophistication of law firms client intelligence practices decreases with law firm size Sophistication categories were successfully validated / adjusted during follow- up interviews

38 © Copyright, Thomson West, 2007 RETURN TO MAIN Compile Data Collection Information Knowledge Intelligence Decision Results Analyze CommunicateApply Act Adapted from William Y Wilson, NextStep and Timothy W. Powell, InfoStrat Decision Makers - Practice Group Partners - Attorneys - Business Dev/Sales Marketing and Practice Area Partners Library – Secondary data Client Awareness & Competitive Intelligence Process in Law Firms Finance / Business Mgmt Marketing /Bus Dev Feedback Marketing – Primary data ©Thomson West – all rights reserved Purpose

39 © Copyright, Thomson West, 2007 RETURN TO MAIN Proactive Client Intelligence Process Map CONTRIBUTOR Secondary External Primary External Primary Internal Company Background Executive Biographies Litigation Experience / Relationships Deals Experience / Relationships IP / Relationships News INFORMATION PROVIDED SOURCES ANALYSIS & SYNTHESIS RECIPIENT Current Awareness Docket Alerts News Alerts Client team input Client self positioning Self-reported Executive Atty relationships Regional lateral news Contact & Relationship History Matter & Fee Receipt history Billing realization Key billing attorneys Trends Court Link/West Dockets Google Alerts OUTPUT RSS /Email Summary Client Teams A B Hoovers / D&B / Monitor Hoovers Monitor CapIQ / Monitors USPTO / Derwent Monitor Attys, Team Meetings Client Web Sites Press Releases Monitor Interview Process Team A Team B Team C Team D Team E Team F Team G Team H Team I Team J Team K Current Client Team Tear-Sheet Data Aggregation Analysis Summary Presentation Summary Recent Dockets Recent News Cross-Selling matrix Client / Industry Activity Comparison Competitive Firm Interaction Contact Networks Elite C C D D E C B D C D H F F F F Lead Intranet Team Report & Action Steps Team Admin G

40 © Copyright, Thomson West, 2007 RETURN TO MAIN Reactive Client Intelligence Process Map CONTRIBUTOR Secondary External Primary External Primary Internal Company Background Executive Biographies Litigation Experience / Relationships Deals Experience / Relationships IP / Relationships News INFORMATION PROVIDED SOURCES ANALYSIS & SYNTHESIS RECIPIENT Client self positioning Self-reported Executive Atty relationships Who knows Who OUTPUT Hoovers / D&B / Monitor Hoovers Monitor CapIQ / Monitors USPTO / Derwent Monitor Client Web Sites Press Releases Monitor Interview Process Situational Definition Data Aggregation Analysis Summary Presentation Summary Recent Dockets Recent News External Cross- Selling matrix IP Prosection & Enforcement report Client / Industry Activity Comparison Competitive Firm Interaction B B C C D B B B D E Lead Individual Attorney RFP Executive Committee CMO INITIATION & EVALUATION Lead - Definition of project objective, desired deliverable and resources to be engaged - Consults with team members to prioritize workflow - Confirms with Recipients timeframe Recruiting REFINED REQUEST

41 © Copyright, Thomson West, 2007 Outsourcing Solutions

42 Current Awareness: Critical Information Management Tools August 22, 2007 Meredith L. Williams, Esq., Director of Knowledge Management mlwilliams@bakerdonelson.com

43 RETURN TO MAIN Baker Donelson Bearman Caldwell & Berkowitz 500 + attorneys 16 offices in Alabama, Georgia, District of Columbia, Louisiana, Tennessee and representative offices in London, UK and Beijing, China. 5 practice groups: –Advocacy –Business –Health Law/ Public Policy –Labor & Employment –Tax

44 RETURN TO MAIN Why is KM involved? Efficiency. Better Sharing of Information. Better Client Service. Save the Firm money by delivering information instead of the user wasting time trying to locate what they need. Faster dissemination of critical information to key personnel.

45 RETURN TO MAIN Types of Information? Internal Sources –Financial Information –CRM –DM External Sources –CourtLink (Dockets) –RSS (News) –Firm360 (SEC Filings, News, Dockets, Lawsuit Filings, Patent & Trademark Filings, etc.)

46 RETURN TO MAIN Example Integration Points Client Team Sites –Client Matter Automatically Generated Sites –Target Client Sites –Restrictive Client Sites Practice Group Sites

47 RETURN TO MAIN Client Site (Automatic)

48 RETURN TO MAIN Client Site (Automatic) Additional attorney requested information regarding the client.

49 RETURN TO MAIN Client Site (Automatic) Basic Information from the financial system.

50 RETURN TO MAIN Client Site (Automatic) All open files from the financial system.

51 RETURN TO MAIN Client Site (Automatic) All closed files from the financial system.

52 RETURN TO MAIN Client Site (Automatic) All previous Marketing Proposals.

53 RETURN TO MAIN Client Site (Automatic) All timekeepers who have entered time. Pulled directly from the financial system.

54 RETURN TO MAIN Calendar events, documents from DMS system, etc. Matter Site (Automatic)

55 RETURN TO MAIN Matter Site (Automatic)

56 RETURN TO MAIN Matter summary information from the financial system. Matter Site (Automatic)

57 RETURN TO MAIN NOT PICTURED: Ethical Walls & Timekeepers. Matter Site (Automatic)

58 RETURN TO MAIN Client Site (Automatic) Links directly into WestMonitor for the target client profiles. Links directly into WestMonitor for the target client industry reports

59 RETURN TO MAIN Client Site (Automatic): Litigation Profile

60 RETURN TO MAIN Client Site (Automatic) Is this work increasing? Decreasing? Remaining Constant? Client Site (Automatic): Litigation Profile

61 RETURN TO MAIN Client Site (Automatic)Client Site (Automatic): Litigation Profile

62 RETURN TO MAIN Client Site (Automatic)Client Site (Automatic): Litigation Profile

63 RETURN TO MAIN Client Site (Automatic)Client Site (Automatic): Litigation Profile

64 RETURN TO MAIN Client Site (Automatic)Client Site (Automatic): Litigation Profile

65 RETURN TO MAIN Client Site (Automatic) Links directly into WestMonitor for the target client profiles. Links directly into WestMonitor for the target client industry reports

66 RETURN TO MAIN Client Site (Automatic)Client Site (Automatic): Dashboard

67 RETURN TO MAIN Client Site (Automatic): Dashboard

68 RETURN TO MAIN Client Site (Automatic): Dashboard

69 RETURN TO MAIN Client Site (Automatic) RECAP All Clients and Matters have a site automatically generated. All internal DM, Financial and CRM pieces are automatically linked upon creation. No maintenance required. KM team integrates the West Monitor tools. No password required. Seamless integration with most needed information.

70 RETURN TO MAIN Target Client/ Team Sites

71 RETURN TO MAIN Target Client/ Team Sites Links directly into WestMonitor for the target client profiles. Links directly into WestMonitor for the target client industry reports

72 RETURN TO MAIN Target Client/ Team Sites Links to internal CRM system.

73 RETURN TO MAIN Target Client/ Team Sites Target Client address, website, phone, email, etc.

74 RETURN TO MAIN Target Client/ Team Sites A link into WestMonitor to pull ticker information, news (legal & financial) SEC filings, Lawsuit Filing, etc. (SEE NEXT SLIDE)

75 RETURN TO MAIN Target Client/ Team Sites

76 RETURN TO MAIN Target Client/ Team Sites Automatic pull of open client files from the financial system. When accessed, all matters, financial info, timekeeper information, all documents created in the DMS, contacts, etc. become available.

77 RETURN TO MAIN Target Client/ Team Sites Tracks 1.Who is meeting with target client. 2.What occurred, be it a conference all, dinner, deal closing, golf, etc. 3.Any new information gained from the action. 4.Any recommendations for future contact. Tracks 1.Who is meeting with target client. 2.What occurred, be it a conference all, dinner, deal closing, golf, etc. 3.Any new information gained from the action. 4.Any recommendations for future contact.

78 RETURN TO MAIN Target Client/ Team Sites RECAP KM Team creates the sites for current Clients or Potential Clients the firm is pursing. No automatic integration. High set up and early maintenance required. This diminishes after set up period. KM team integrates the West Monitor tools. No password required. Seamless integration with most needed information.

79 RETURN TO MAIN RSS Feed of Legal Industry News Legal Industry Docket Information Practice Group Sites

80 RETURN TO MAIN Relevant Content (Industry Information) RSS Feed of Legal Industry News

81 RETURN TO MAIN Key Factors with Technical Integration Low Maintenance. Make it a part of the daily practice. Keep it simple. Seamless Integration.


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