LexisNexis® Enterprise Solutions [1], a leading provider of content and technology solutions, has announced that full-service international law firm Stephenson Harwood LLP has selected LexisNexis Redwood Analytics as the firm’s solution of choice for its management reporting and business intelligence platform. The solution will be deployed in the firm’s London office and used to manage business operations around the world.
Redwood Analytics will enable the firm to deliver consistent, concise and meaningful information and insight to the right people at the right time and leverage established business analytics methodologies used by law firms the world over to aide better decision making. The solution will also allow the firm to deliver flexible and configurable, role-specific dashboards to practice group leaders, lawyers and associates, in turn enabling them to better understand the drivers of business performance. Fe- earners will be able to focus their time on the biggest areas of improvement and maximise the best business opportunities to improve profitability.
Stephenson Harwood chose Redwood after careful evaluation of a number of systems available on the market and the option of building an in-house solution. The firm eventually chose Redwood for the solution’s proven business intelligence analytics methodology, customisability and the team’s long track record of successful implementations at law firms.
“With a proven solution already available, undertaking a major development effort to create a new system doesn’t make business sense,” explained Lindsay Barthram, business systems manager, Stephenson Harwood LLP. “We want to rapidly deploy business intelligence so that the firm can accurately draw out the key information residing in our human resource, CRM and practice management systems and leverage analytics for business improvement and planning. Redwood will give us immediate return on our investment – we can see a huge likeness of approach between the Redwood methodology and our business.”
Redwood Analytics is business intelligence software that enables law firms to analyse and monitor performance, focusing on the most significant drivers of the business of law. Redwood provides lawyers, finance managers and marketing professionals access to information that supports better decision making.