2019 Highlights: Panoramic Helps Law Firms Connect the Business and Practice of Law
As 2019 wraps up, Legal Current is revisiting milestones and key accomplishments from the Legal business of Thomson Reuters this year. Today, we look at Panoramic, a legal workflow solution that enables firms to plan, manage and execute legal matters with data-driven confidence.
The February launch of the cloud-based system enables firms to predict profitability and provide better service and unprecedented transparency to their clients. It’s built on the strong foundation of Practical Law’s legal guidance and 3E’s financial management system to connect the front and back office of a law firm.
The platform earned glowing reviews from legal industry influencers, including Richard Tromans of Artificial Lawyer, who raved: “Wow…this is an amazingly useful piece of kit that connects much of what is good about TR’s tech stack and makes it super easy for lawyers to use. … To conclude: this looks to be a very significant move by TR and will no doubt have an impact.”
Also, Frank Ready of Law.com noted how Panoramic could shape the legal profession: “The solution was designed to help firms to increase transparency and provide a more effective way to predict profitability, something that corporate clients are looking for as they aim to cut costs and do more with less.”
At the heart of Panoramic are dynamic Matter Maps that include the phases and underlying tasks needed to execute a specific legal matter, helpful for managing and doing the work, and also for understanding the matter and building budgets. Matter Maps in Panoramic contain a sophisticated logic system that guides users to the specific tasks relevant to the facts of their case and provides a common language between the front and back office.
These resources help firms plan a new matter in a way that drives positive results for the firm and client. Matter Maps also help partners and pricing directors achieve more informed and faster scoping and budgeting.
Learn more about Panoramic here.