Data is one of the most valuable assets within every law firm. Data has the potential to reshape how your firm performs and operates when your various data points become unified and usable. For this to be a reality, it is essential that law firm data is clean, actionable, and aggregated within an easily accessible place, creating one source of truth. Additionally, law firms need a multi-step plan for understanding what data is most important, harnessing that data, and using the data throughout the firm’s practices, departments, operations, and leadership. Otherwise, the reality of a centralized data system becomes less likely and the data’s value itself considerably depreciates.
Forward thinking firms position themselves ahead of the curve by implementing dedicated roles, teams, and/or departments to create a centralized database within various systems (for ex., Foundation, CRMs, and intranets) planning who the database users will be and how the data will be consumed, and developing well-planned implementation projects, strong rollout plans with regular trainings, and a change management program to maximize adoption for better ROI. However, taking the aforementioned actions, is not enough for a law firm to succeed. Internal marketing of the centralized database is key to maximizing your firm’s investment. This may be executed through education on the technology, success stories, and promotion of various use cases to attorneys and leadership to encourage reliance on the technology.
Once the technology’s adoption is successful, clean data can be used to make fact-based decisions throughout every practice, office, and department within the firm to work smarter, faster, and improve profit margins. Technology delivering efficiency is the bare minimum, it must provide other benefits like accessibility and reliability. More importantly, to the firm, key benefits include time savings and improving profit through cost savings or increased revenue. Unifying data from various services and systems is one of the best ways to achieve these goals.
Courtroom Insight understands the power of clean data, and its customer-centered approach has helped improve law firms’ data utilization by integrating multiple legal data sources into its platform. The CI Matter Connector and CI Directory are designed to connect people, matters, and data by using unique identifiers in conjunction with the subscribed legal research services. Courtroom Insight delivers this clean, comprehensive data in a centralized database, which is easily connected to client profiles and matter numbers for improved Business Development, Client Services, Experience Management, Knowledge Management and Marketing activities.
Courtroom Insight’s CEO, Mark Torchiana, will be presenting on how we have supercharged data within Litera’s Foundation Firm Intelligence hub for Troutman Pepper at their Groundbreaker’s Summit on June 11tth. At the Summit, attendees will have the opportunity to learn how Courtroom Insight helps firms harness clean data. Unable to attend the Groundbreaker Summit? Contact us at sales@courtroominsight.com to get more information on how our products can transform the way your firm views, consumes, interacts, and handles data.
