Case Study Law Firm Profit and Growth LBMS Transforms a Major Law Firm s Market Expansion & Increased Profitability Vision into Reality

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1 Case Study Law Firm Prfit and Grwth LBMS Transfrms a Majr Law Firm s Market Expansin & Increased Prfitability Visin int Reality

2 Cpyright 2011 Elegrity Incrprated. All rights reserved. N part f this dcument may be reprduced in any frm r by any electrnic r mechanical means, including infrmatin strage and retrieval devices r systems, withut prir written permissin frm Elegrity Incrprated. This dcument r infrmatin it cntains may nt be used, reprduced, r disclsed utside f intended recipients withut authrizatin in writing by Elegrity, Inc. 2 Elegrity, Incrprated 160 Pine Street, Suite 720, San Francisc, Califrnia Case Study Law Firm Prfit and Grwth LBMS Transfrms a Majr Law Firm s Market Expansin & Increased Prfitability Visin int Reality

3 CASE STUDY: LAW FIRM PROFIT AND GROWTH STRATEGY FACILITATED BY LAW BUSINESS MANAGEMENT SYSTEM (LBMS ) Situatin: Law firm had bjective f increased revenue and prfitability. The key strategy was diversificatin, bth gegraphically and int new practice areas. The apprach invlved utilizatin f mergers & acquisitins that enabled this diversificatin. Critical Issues: The firm's strategy invlved strategic placement f additinal ffices dispersed thrughut the United States n an accelerated timeframe. T achieve full and fast recgnitin f increased revenues that translated t bttm-line prfit, the firm had t ensure the fllwing issues were addressed: Acquired firms bk f business had t be quickly integrated int the firm s ttal bk f business. This meant clearing all lateral hire cnflicts quickly and pulling all client and matter infrmatin int the firm s centralized accunting system. New ffices had t be quickly assimilated int adherence int the firm s plicies and prcedures t ensure effective lss preventin, thereby ensuring prfits were prtected. The firm wanted t grw its legal services delivery base withut an increase in staffing fr new business intake, cnflicts r billing, this way driving prfitability up significantly as revenue increased, but administrative verhead expense stayed steady. Real-time analysis f effectiveness f mergers and acquisitins n verall practice and gegraphic diversificatin required technlgy capable f supplying analytics and sphisticated reprting. Reasns: The firm was ver-cmmitted t service f a particular market segment, which had strict demands f legal service prviders (and histrically mandated very lw rates). Firm revenues and prfitability were belw the nrm. Firm was at high risk if the market segment they serviced changed dramatically due t ver-specializatin. 3 Elegrity, Incrprated 160 Pine Street, Suite 720, San Francisc, Califrnia Case Study Law Firm Prfit and Grwth LBMS Transfrms a Majr Law Firm s Market Expansin & Increased Prfitability Visin int Reality

4 Required Capabilities: Glbally cnsistent prcesses fr New Business Intake and Client / Matter Change Management Fast inclusin f new ffices / users int the firm's standard prcesses withut verhead f rllut / training Psitive adptin f new prcesses by users t minimize resistance t change Targeted, high-value autmatin, t ensure that existing peratinal infrastructure (persnnel) culd handle the substantially increased lad withut the need fr hiring new persnnel. Elegrity Delivered: Business prcess re-engineering and ptimizatin cnsulting, fcused n helping the firm determine hw t leverage the new capabilities autmatin affrds t meet their bjectives. Law Business Management System (LBMS) The nly cmprehensive cradle-t-grave client/matter management business prcess autmatin platfrm specifically built t accmmdate all the sphisticated business prcess needs f the legal industry. LBMS prvides all f the technlgy capabilities required t meet the fllwing functinal capability requirements: Autmatin t enable the same number f peple and their teams t d significantly mre! Risk mitigatin thrugh the enfrcement f cnsistent, cdified firm business prcesses and business rules. Visibility fr all levels f users, secured apprpriately. Flexibility fr the rganizatin as a whle thrugh the ability t quickly add ffices / users, and make immediate adjustments t firm business prcess and business rules as strategies r needs changed. System Integrity fr autmatin f system interfaces and aggregatin and distributin f infrmatin t / frm the apprpriate system f recrd. Agility thrugh the leveraging f active decisin supprt in cmbinatin with business prcess executin, decisin-makers at all levels f the rganizatin were prvided the ability t make better, mre infrmed decisins faster. Reprting and Business Intelligence t prvide infrmatin t varius levels f the rganizatin, as needed. Prcess Develpment, User Interface Develpment & Custmizatin and Business Systems Integratin Services t leverage the technlgy prvided by LBMS t meet the specific requirements f the firm s unique business prcesses. End-User Training and Flr Supprt t ensure psitive and fast adptin rate. 4 Elegrity, Incrprated 160 Pine Street, Suite 720, San Francisc, Califrnia Case Study Law Firm Prfit and Grwth LBMS Transfrms a Majr Law Firm s Market Expansin & Increased Prfitability Visin int Reality

5 Results: Significantly increased speed f new business intake (accelerating revenue generatin, recgnitin & cash flw). Increased billing accuracy and speed due t cmprehensive billing guidelines cllectin as part f the intake prcess. Enhanced cnflicts management and clearing prcesses t prcess mass intakes and lateral hires. Substantially imprved lss preventin thrugh the cnsistent and audited applicatin f firm plicies and cmpleted apprval cycles. Streamlined client / matter lifecycle prcesses and autmated many assciated manual and paper-intensive tasks. The firm has grwn frm apprximately 10 ffices at the time Elegrity s LBMS was implemented t nw 19 ffices acrss 32 different practice areas The firm has becme ne f the tp AmLaw 200 law firms The firm has enjyed a substantial increase in revenue and achieved higher prfitability as a result f its leveraging f LBMS. T learn hw yur firm can be successful in achieving yur strategic gals; dwnlad ur 7 Steps t Efficiency Gains and Enhanced Lss Preventin at Law Firms brief t learn hw t target yur investments fr the highest level f efficiency gains fr increased prfitability. 5 Elegrity, Incrprated 160 Pine Street, Suite 720, San Francisc, Califrnia Case Study Law Firm Prfit and Grwth LBMS Transfrms a Majr Law Firm s Market Expansin & Increased Prfitability Visin int Reality

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