ILTACON – Customer Engagement with Thomson Reuters Elite
The following post was written by Bill Burch of Thomson Reuters ELITE.
The big themes we are hearing from customers are focused around efficiencies and collaboration. At the foundation is a market that has grown more and more competitive. Statistics show that legal demand has been flat, but most firms feel as though they are still growing. If that is the case, these firms are likely taking customers from other firms; a result of the increasingly competitive environment.
What clients are demanding from firms is more transparency, and clients also want avenues to collaborate and use workflows to drive efficiencies within the firm. At Thomson Reuters Elite, we are finding creative ways to use products like Business Development Premier to help firms find new work, identify places where they can get that work, and perform more work for their existing clients. And using 3E, customers are creating better ways to bill clients and manage various fee requirements such as AFAs and fixed fee arrangements. Finally, we’re helping firms analyze data so they can determine which matters are profitable and which are not. We’re helping them gain better insight into which business is good for their firm and which business should probably be avoided.
Workspace is another avenue in which we are helping our customers manage their clients’ demand for more transparency. Workspace allows firms to pull together information from various sources, including 3E, MatterSphere, Business Development Premier, and third party products. It offers the same environment on a mobile device as on a personal computer. Clients can easily leverage that data to review and deliver meaningful and accurate statistics. This information is vital for firms to provide transparency to their clients and grow in this environment.
Additionally, we are working closely with our Enterprise customer base to share where that platform is heading, its product roadmap, and what the client’s path to a new platform, 3E, may look like. We want them to have an understanding of what the transition process looks like and best practices.
As the leading global provider of an end-to-end enterprise business management solution, we at Elite want to educate and work alongside our customers to enable them to work more efficiently and better collaborate within their firm and with customers.