LexisOne Powered by Microsoft Dynamics AX 2012 LexisOne LexisOne powered by Microsoft Dynamics AX 2012 from LexisNexis goes beyond traditional practice management software currently available to legal service providers. It drives operational efficiencies and enables evolution of competitive business models by integrating and harmonising all aspects of a firm s operations from client time recording to collections, financial management and human resources. The legal environment is evolving rapidly. Driven by the precarious economic climate, in-house counsels are closely scrutinising the value they receive from law firms. Clients not only expect greater efficiency and transparency of information - in the highly competitive environment that is the legal industry today, they are demanding alternative fee structures, such as fixed, capped and success fees.at the same time, law firms have lost the right to exclusively offer legal services. Already one major retailer has aggressively entered the market. It won t be long before others follow suit, in the same way that they successfully moved into credit cards, banking and insurance. The fact that LexisOne has passed the Software Solution Test for Microsoft Dynamics on first attempt speaks volumes about the exacting development standard and the quality of LexisNexis business and technical expertise. The software test is deliberately rigorous and aims to ensure that customers invest in the best possible Microsoft Dynamics-based solution. As a legal sector-specific practice management software, LexisOne is truly next generation. Steve Morrow, General Manager of Microsoft Dynamics in the U.K. EnterpriseSolutions
LexisOne - powered by Microsoft Dynamics AX 2012 Productivity management Matter management and accounting Time management Travel and expense management Conflict management Sales and marketing Financial management Purchase ledger Sales ledger General ledger Cash and bank management Fixed assets Budgeting Invoicing Procurement and sourcing Performance management Role centres Business analysis Standard reports Human resource management Foundation Security / Workflow / Alerts / Questionnaires / Integration / Languages / Global address book / Source code Organisation management Position management Absence management Recruitment Employee development Course administration Competency management The challenges Faced with these changes, what will you do? You can t stand still. You have to decide what your underlying business model will be. Will you compete in the commoditised service market conveyancing, probate, personal injuries and will writing for example perhaps merging with other firms to gain the economies of scale needed to see off the new entrants? Alternatively, will you specialise in specific sectors, developing the structure to cost effectively deliver the high quality services clients require, perhaps through outsourcing or international collaborations? Or will you do both? Whichever model you choose, one thing is certain. Excelling at law is no longer enough to compete in the new emerging markets. To outsmart the competition, whether it comes from the legal sector or outside it, you will have to excel at practice and business management too. The future belongs to those firms that can deliver high quality service, provide greater value for money, become more transparent and drive savings through efficiency gains. One integrated solution LexisOne, from LexisNexis Enterprise Solutions, has been specifically designed for law firms. Based on our experience of providing software to the UK s top 250 law firms, we ve taken the stable and solid foundation of Microsoft Dynamics AX and added law firm specific functions and processes. As a result, it not only includes all the traditional and trusted practice management features you would expect. It also includes best practices for client time recording, financial management, human resources, analytics and more. Now you have everything you need to address the challenges you face in one integrated offering.
Higher quality service Your clients expect nothing less than the highest levels of service. So you have to consistently provide the best advice, ensure clear, open communications and proactively manage costs to maintain their loyalty. LexisOne helps you in a number of ways. Best advice through talent management To provide the best advice you must have the finest lawyers. But, as new entrants and business models take hold, the competition for lawyers will intensify. So the ability to attract and retain top talent will become essential. LexisOne gives you the tools you need to constantly analyse the skills you have. As a result, you can quickly identify potential areas of weakness. With streamlined employee appraisal, development and training processes, you can rapidly put in place measures to address any shortfalls. Plus, automated features help you manage recruitment more effectively. To retain talent as business models change, organisations will need to think carefully about their compensation plans. The benefits and incentives in an organisation offering commoditised services are likely to be very different from a firm offering specialist services. LexisOne has the flexibility to support both scenarios, enabling you to offer multiple compensation and incentive plans within the same firm. Now you can motivate employees throughout the organisation and maximise the retention of your top talent Clear, open communications With LexisOne all financial information about clients and matters is stored in one place. Having a single source of the truth ensures consistent and accurate communications with clients. Powered by Microsoft Dynamics AX, LexisOne improves collaboration and eases the exchange of information through seamless interoperability with other Microsoft technologies you use, such as Outlook R, Excel R, Word R, Lync and SharePoint R, improving collaboration and easing the exchange of information. In addition, the ability to quickly and easily create, deploy and analyse questionnaires enables you to constantly measure client satisfaction and act quickly on any problems that arise. Proactive cost management To ensure you always stay within the terms of client agreements, LexisOne provides you with sophisticated facilities for budgeting and tracking matter costs, including comprehensive electronic authorisation features. At the same time, you can provide users at all levels with role centres. These personalised home pages keep employees informed about the Key Performance Indicators (KPIs) relevant to their job, as well as showing the workflow tasks and activities they need to carry out. With real-time visibility of all client and matter financial information, as well as alerting when exceptions occur, you can proactively keep matter costs within budget. Plus, you can respond to client queries quickly and accurately.
Greater value for money Maintaining profit levels while accommodating new fee structures demands a clinical approach to estimating, resourcing, managing and invoicing matters. Accurate estimating With LexisOne you can employ easy-to-use business analysis tools to give you a detailed understanding of the time and costs associated with previous matters, helping you to set rates and plan new matters more effectively. You can also refine estimates, by continuously assessing the actual time and expenses against those forecast to improve realisation and profit margins. In addition, LexisOne allows you pre-define the rates for various tasks and generate quotes quickly, directly from the system. As a result, you increase both efficiency and the consistency of estimates. Detailed control With LexisOne you have the detailed control over agreements made with clients, including capturing agreed rates to ensure costs don t overrun and profit margins are maximised. You can restrict the time and disbursements that can be posted to a matter, as well as track financial and non-financial undertakings. You can divide matters into sub-matters for more accurate time and expense reporting and internal responsibility assignment. The flexible time and expense management modules within LexisOne not only streamline the recording, reconciliation and processing of these items, they also record them against each matter or sub-matter, improving the timeliness and accuracy of reporting. Optimised resourcing Assigning the appropriate resources to each matter task enables you to optimise costs and increase revenue, through more efficient resource utilisation. With LexisOne, you can associate a skill set requirement with a matter or sub-matter, so only lawyers with the appropriate skills and experience are assigned to it. To help you select the right personnel for a matter, the comprehensive Human Resources (HR) management functionality enables you to search your organisation for specific skills and experience. This facility is also extremely useful for business development, enabling you to identify potential areas for expansion. Plus, the planning facilities within LexisOne enable you to optimise the utilisation of resources across matters and, as a result, execute them more cost effectively. Flexible invoicing With clients demanding a variety of alternative fee structures, you not only need to bill accurately, you also need the flexibility to accommodate all manner of client invoicing requirements. LexisOne provides a comprehensive range of billing options, including fixed fee, time and materials and non-time related work. You can raise invoices against client or matters, raise composite invoices for multiple matters or bill a sub-matter separately. You can include anticipated time and disbursements and, if necessary, financial information can be adjusted when creating an invoice.
Total transparency Clients are demanding greater transparency from their law firms. But they aren t the only ones. Legislation is becoming more onerous and you have to ensure that you can prove you comply. Efficient reporting With LexisOne, employees get instant access to the information they need through their role centre. They can also easily create and modify their KPIs, without the need for IT involvement, so their role centre stays relevant as business circumstances change. Reports can be produced quickly and easily, using tools that users are already familiar with, including Microsoft Excel, SQL Reporting Services and Management Reporter. Importantly, because LexisOne manages your business as well as your matters, you can generate more comprehensive reports. Plus, sophisticated yet easy to use business analysis tools give you the ability to quickly perform complex analyses, for example to compare client data, analyse fee earner productivity or analyse specific matter types. Fully justify fees Because LexisOne gives you real time access to matter financial information, it also becomes much easier to justify fees leading to increased realisation and higher revenues. Simplified compliance Law firms are under increasing scrutiny, to the extent that the Solicitors Regulatory Authority (SRA) is demanding that law firms have a Compliance Officer for Legal Practice (COLP) and a Compliance Officer for Finance and Administration (COFA). Workflow for financial transactions helps to simplify the role of the COLP and COFA, providing visibility, internal controls and reporting to aid compliance with specific regulations. LexisOne keeps a complete financial audit trail across both your matters and your wider organisation. Easy to set up events and alerts help to flag actions that are overdue or haven t been carried out, providing you with real time compliance monitoring. Specific processes for conflict checking and anti-money laundering procedures are included out of the box, to help you ensure that these major requirements are never overlooked or completed unsatisfactorily. By using the facilities in LexisOne you can be sure that compliance is built in to processes throughout your organisation, rather than a bolt on activity that could get overlooked. You can quickly produce client reports and invoices that show all the items associated with a matter, such as time spent, disbursements, expenses, purchases and counsel fees. In addition, with the ability to assign items to sub-matters, you can give clients much more detailed bill breakdowns, showing exactly how fees have been calculated.
Increased efficiency Traditionally law firms have deployed applications that focus on streamlining practice management. But, good though these systems are, they do not go far enough in the current environment. To compete in the new legal environment and ensure profit margins are maximised, law firms need to ensure they are managing their whole business as efficiently as they manage matters. Which is why LexisOne supports both legal and business processes out of the box. With LexisOne you increase productivity, by allowing employees to quickly access their own role centres showing KPI information and outstanding activities. You can also put employees in control of their own destiny and improve accuracy with self-service facilities for entering time and expenses, personal information, leave and absences. Collaboration workspaces, based on Microsoft SharePoint, allow teams to quickly organise and share information about matters and new opportunities, enabling you to improve teamwork and unify communications. With LexisOne you can create a lean, but highly effective and efficient organisation that optimises productivity and costs while delivering the highest levels of service to your customers. Powerful yet easy to administer workflow functionality allows you to reduce paper-based processes and accelerate authorisations. While built-in best practices for finance, procurement, fixed assets, client invoicing, expense management and human resources, LexisOne helps you increase efficiency.
Created for today, ready for tomorrow When you invest in LexisOne you are investing in a system that has the flexibility to evolve in whatever way you want it to. Built on a solid foundation The underlying foundation of LexisOne is Microsoft Dynamics AX, which provides the core financials, human resources and operations management functionality. Because it s built on Microsoft technology, the software will scale almost effortlessly, to support however many people you need it to, protecting your investment for years to come. Using Microsoft Dynamics AX means users get up to speed quickly, with a familiar solution that looks and works like the Microsoft Office applications they are used to. If you want to grow via mergers or acquisitions, LexisOne allows you to quickly deploy standardised processes across all organisations, generating greater efficiency, and easily consolidate reporting, even with complex business structures. It also means that LexisOne integrates with other Microsoft business productivity solutions you are using, to create a streamlined working environment that encourages collaboration and innovation. It also supports multiple languages and has tax compliance for 36 countries built into it. So you can expand into, merge with, or acquire companies in countries around the world, confident that LexisOne will support you wherever you want to go. Plus, you get the benefit of two development teams working to improve your system, Microsoft for the core functionality and LexisNexis for the legal-specific aspects, so it evolves faster.
For more information To find out more about LexisOne and to discuss your company s specific business requirements, please visit www.lexisnexis-es.co.uk/lexisone, e-mail marketing@lexisnexis.co.uk or call +44 (0) 1132 262065 to speak to a LexisNexis Enterprise Solutions consultant. A division of Reed Elsevier (UK) Ltd. Registered office 1-3 Strand London WC2N 5JR Registered in England number 2746621 VAT Registered No. GB 730 8595 20. LexisNexis and the Knowledge Burst logo are trademarks of Reed Elsevier Properties Inc. LexisNexis 2014. The information in this brochure is current as of 06/14 and is subject to change without notice. A2865