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Next-Generation CRM: Achieving the True 360-Degree Client View
When Customer Relationship Management (CRM) technology was first utilized in a corporate setting, fewer firms understood the vast possibilities offered by CRM solutions and tended to use it for things they already understood, such as contact management. As their sophistication grew and more was written about CRM, the scope of their use expanded. During this time, it became clear that CRM could support client development efforts by keeping track of the interactions between clients, prospects and employees, and by collecting value-added information from internal and external sources. By leveraging this relationship intelligence, firms were able to better identify sales leads, manage customer contacts, expand relationships and ultimately pave the way to successful cross-selling initiatives.
As CRM took hold, vendors began to understand that a one-size-fits-all approach would not work. Individual industries varied so widely in business practices and processes, that to gain uptake and maximize ROI, solutions had to be tailored for specific needs. LexisNexis Interface Software, for example, identified the legal industry (among other professional services sectors) as one that had unique CRM requirements that were not being served by the existing vendors. The company's signature offering, InterAction, allows attorneys to record and track critical data relative to people, companies, relationships, experience and expertise, while applying security and confidentiality safeguards crucial to the private nature of legal work. InterAction also offers a relationship mapping function, “Who Knows Whom.” The feature helps users identify connections between internal and external contacts, linking the firm's personnel more efficiently than the ubiquitous firm-wide e-mail. Another example is the Watch List, a feature that monitors activity in the system related to a specified individual or company, alerting the user whenever activities occur relating to that contact. Specialized features, such as these, have helped law firms to understand and utilize CRM beyond simple contact management, and leverage it as a strategic marketing and business development solution.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.