Allison Guidette talks cloud-based solutions, Elite and trends in the legal industry
It’s a little known fact, but Thomson Reuters has 30 years running cloud-based applications – with Westlaw. In the video clip below, Allison Guidette, managing director of Large Law Firms at Thomson Reuters, talks about why we are moving more of our capabilities into cloud-based solutions, as well as trends impacting large law firms and how Thomson Reuters is responding to those trends.
The upcoming release of hosted practice technology marks a significant opportunity for customers who desire a cloud-based option. According to Guidette, customers are looking for ways to reduce the cost of e-discovery, they don’t always want the infrastructure maintenance costs of on-premise software solutions, and they like the mobility and ease-of-use that cloud-based software solutions offer. So, she says, we will offer our customers the option of CaseLogistix and CaseNotebook in the cloud. We will continue to offer “thick client” options as well – law firms can simply choose which solution best meets their needs. Some firms may even choose both options depending on their case needs.
Guidette also discusses the trends she has seen in the legal industry specific to large law firms. “In terms of financial trends, 2012 was another year of sluggish growth in large law firms,” she said. “If you look at Peer Monitor, which just published its Q4 results, total demand growth for customers who are part of the program was only up 0.5%.” She goes on to say that while large law firms focus on top-line growth, they also are balancing overhead expense management with critical investment in productivity solutions. “Law firms know that they need to invest in technology solutions and workflow tools to help them adapt to the changing demands of their clients for greater efficiency and productivity. So there’s been a mixed bag in that they have been focused on strategic investment, but also cost cutting.”
Guidette maintains that the focus in 2013 and beyond will continue to be on delivering client service with the same quality as clients have come to expect, but with optimal efficiency and managing costs by leveraging technology, know-how, tools, and resources that allow law firms to deliver the same quality, but at a lower cost. In addition, she mentions the acquisition of Practical Law Company as a terrific resource for law firms seeking to streamline and ultimately enhance legal service delivery.
Watch the entire clip below.