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xRM4Legal Risk Management & Compliance

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Law firms can save thousands on PI insurance premiums by adopting better systems

Law firms can save thousands on PI insurance premiums by adopting better systems


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  • 1. Risk Management and ComplianceDavid BlumentalsDirector, CRM/xRM StrategyDBlumentals@xRM4Legal.com
  • 2. Contents1. The “Power of Productivity”2. Our Marketing and Business Development Conversation3. Our Risk Management and Compliance Conversation4. Our “Extended CRM” Conversation5. Summary
  • 3. xRM4Legal EnablesNew Conversations with ClientsUncover Simplifyrelationships and opportunity andopportunities pitch managementFocus on Streamlinemarketing and risk management,bus. development compliance and auditAchieve new Attain real-timeclients and performancesources of managementrevenue
  • 4. Business Development Capabilities Differentiators  From “Prospective Client to Cash”  Native Outlook Client  Robust workflow  Insightful analytics  Mobile productivity
  • 5. Next Generation Outlook: TheRight Data at our Fingertips Provides optimal visibility into client records Reduces training required Improves teamworkIncreases user adoption
  • 6. Show in Favorites: Minimise Clicks Reduce mouse clicks and windows – a time saver for all users Can pin frequently accessed records (Clients, Contacts, Potential New Matters, Inceptions etc.)
  • 7. Real-Time Filtering: System-wide andPersonal Views Allows staff to instantly zero-in on needed data Excel-like sort and filter on each column For example, you can use filters to display only records that fall into particular industry risk categories
  • 8. Excel Export/Import: ImprovedData Access and Reporting True bi-directional sync with ExcelChanges made in Excel areautomatically incorporated
  • 9. Team Sharing: Better CollaborationOwnership and sharingof records with clients For example, you could have a “Large Client” team made of Partner, Associate, Paralegal etc.Team security roles and roll-upreporting are provided
  • 10. Intelligent Docs: Streamlined Assembly Quickly create marketing newsletters, event invitations, instruction letters, Terms and Conditions of Business etc. Embed document management capabilities of SharePoint Select records, highlight merge fields, preview and print
  • 11. Risk Management and ComplianceCapabilities Differentiators:  365 client view  Integrated People and Competitor information  Built-in KnowledgeBase  Streamlined processes
  • 12. Integrated Know Your ClientInformation Record More Addresses, Subsidiaries and Relationships Access “live” Company Overview, People and Competitor Information
  • 13. Simplified Potential New Matter(Opportunity) Tracking Easily and quickly search by File Left hand navigation Summary, Client, Fee Earner etc. pane for users that Access Potential New want to jump to Matters with a single specific records click Can easily scroll down for required information
  • 14. Summary and ForecastInformation An effective deal database pulls data into a central repository that would normally be scattered across several firm resources (eg, Practice Management, Finance, HR, Document Management, Compliance etc.). The purpose is to provide a unified profile of each potential new matter for understanding and risk assessment
  • 15. Selection Criteria/Processes It is critical that all potential new matters are subjected to strong selection criteria, in order that the business of the future meets the strategic needs of the firm. It is far more beneficial to attract the right business in the first place, i.e. “get it right the first time”
  • 16. Compliance Checklist/Key Dates A simple, Non prescriptive, Flexible checklist – Not a “to-do” list
  • 17. Terms and Conditions The business case is an integrated solution that leverages existing information already held for marketing and business development while improving overall risk management, compliance and client care…
  • 18. Built-in Audit History A native audit trail functionality makes it easy to track evolution of CRM data. It shows the Changed Date and Time, Changed By, which field changed, the Old Value and the New Value. Supports a variety of audit compliance legislation: Sarbanes-Oxley, EU 8th Directive, J-SOX and Bill 198C
  • 19. Compliance Summary Review The hat trick for the firm is a database with the necessary data that can be maintained and used to market the firm, easily mined by administrative staff, such as marketing, finance and Knowledge Management staffers, who can push the much- needed data out to the lawyer/s as and when required
  • 20. Charts and Dashboards Real-time dashboards deliver advanced business intelligence functionality that is simple to use and easy to change. Users can quickly configure multiple dashboards to monitor performance. The dashboards can be set up for individual or shared use and can include inline charts with drill-down intelligence to visually navigate data, identify trends and uncover new insights
  • 21. Structured Workflow: AutomatedReminders, Task Creation, Reports Enforce actions/tasks based on pre-defined business rules and risk management procedures Create many steps – for example to send reminder email/s, create tasks, send acknowledgements etc.
  • 22. Complete Activity/History Tracking Immediately add new tasks, subject lines, priorities… Record and track any activity – email, phone call, task, letter etc. Completely integrated with Outlook email, calendar and tasks
  • 23. The Evolution from CRM To Extended CRMExtended CRM leverages the Client Relationship Asset Management Managementflexible xRM Framework thatallows firms to easilyconfigure and extend the Matter Management Property Managementcapabilities of xRM4Legal tomatter, trademark, resource,project management etc. Stakeholder Trademark Relationship Management ManagementExtended CRM is additive to Employee Relationship Opportunity Management Managementcore CRM and allows firms totrack and maximise the value Contractor Relationshipof other relationships and Management Pitch Managementassets and in turn extend thepower of CRM. Supplier Relationship Event Management Management
  • 24. Extended CRM Capabilities Differentiators:  Robust workflow engine  Multi-channel communications  Powerful BI capabilities  Point-and-click configuration  Templates  eService options
  • 25. Effortless Configuration Implement business rules for mandatory fields and formattingAdd new field attributes, tabs, sections Drag and drop to move fields, sections and tabs
  • 26. In summary, xRM4Legal:1. Familiar, intelligent and integrated experience2. Wealth of legal-centric features3. Strong law firm value for integrated Risk Management and Compliance with Marketing, Business Development, Client Care and Extended CRM scenarios Call David Blumentals on +61 409 245 354 Or email DBlumentals@xRM4Legal.com

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