Exploring Technology Business Models
Presenters:
Gerard Neiditsch,
Exec Director Business Integration & Technology
Mallesons Stephen Jaques
Elizabeth Broderick,
Partner, Head of Legal Technology Group
Blake Dawson Waldron
Martin Metz
Director of Information Technology
O’Melveny & Myers LLP
9043992
Presented by:
Gerard Neiditsch, Exec Director Business Integration & Technology
Firm
Mallesons Stephen Jaques
Australia, China, London
9043992
5 ways to improve the business of law
direct - increase the wealth of partners, eg through
commercializing inhouse developed technology or content
direct - increase revenue by creating profit generating,
technology enabled services
indirect – improve the firm’s attractiveness to talent through
sustained strategic innovation
indirect - increase clients’ spend for legal services through
technology enabled services
indirect – improve the margin by displacing non-productive
activities & functions, eg through business process
reengineering
‘fit’ - firm’s business strategy & technology ‘reality’
Mallesons Stephen Jaques
Recommind Decisiv Email
d irect - w ealth creation for
p artn ers
10
Pulse workflow
8
6
in d irect - d isp lace n on -
4
d irect - p rofit g en eratin g on -
p rod u ctive activities
2
lin e services
0
in d irect - in crease clien t
sp en d on leg al services
in d irect - attract/retain talen t
PeopleFinder
TalentNet
firm strateg y
tech n olog y "reality"
© [email protected]
Mallesons – firm background
full service, market leading law firm
focus on Australia and Asia
more than 2,100 people
9 offices across Australia, China and the UK
operating in fiercely competitive markets
long term commitment to technology innovation
managed by 8 person Executive – CEO, 3
managing partners, 4 Executive Directors
internal / external Board
1 - increase the wealth of partners
create income from inhouse developed technology or content
requires long term commitment and tolerance for failures from
partnership – issues of ‘horizontal’ and ‘vertical equity’
our firm is not set up to create, categorize, review and keep up
to date large amounts of know how to enable ‘subscription
services’
we don’t have a sales, support or marketing function required to
commercialize software / content
needed to find partners, eg Recommind Decisiv Email
how do you ensure that ‘the inventors’ get a stake in the
venture?
1 –collaborative management of business
correspondence
developed since 2003 to ‘instrument’ the firm for a time when
clients demand ‘transparency’ and enforcement of governance
rules, eg controlled extraction of all correspondence for a matter
collaborative, secure filing and retrieval without imposing
significant extra work on legal teams, ie focus on ‘ergonomics’
highly scalable, ~20 times capacity of traditional DMS with highperformance, very compact, deeply deduplicated storage
architecture, ~5 times smaller than traditional storage archivers
same uptake as email, ie close to 100%
pay-off in unexpected places
now available as a commercial product –
Recommind Decisiv Email
Recommind - Decisiv Email -
effortless correspondence management for teams of professionals
2 - increase revenue by creating profit
generating, technology enabled services
we have a number of online compliance products but they are
only cost neutral
the firm offers a very successful range of practice support
services (eDiscovery, virtual deal rooms, etc)
profitable even after costing in all ‘shared costs’
(eg technology and premises)
year on year growth over the last 2 years of around 15%
3- improve firm’s attractiveness to talent
TalentNet – attracting ‘gen y’ (and others)
‘self-service’ interview scheduling, email/sms reminders, and other web 2.0
type features for candidates
integrated & automated advertising of available jobs on recruitment sites
unified view of candidate history -> aggregation into a ‘talent pool’
automated most processes in the recruitment lifecycle
interview scheduling, advertising, candidate ranking, communications
recruitment now largely a paperless process
Mallesons developed TalentNet inhouse after using an industry
application and later an ASP solution
developed using open source & some Microsoft technology
InnovAction ’07 winner (award ceremony – 9/2007)
TalentNet
4 - increase clients’ spend for legal services
PeopleFinder – improve clients’ call-in experience
driver – need to improve client call-in experience in a fiercely competitive market
for top-end legal services
unified view of presence and availability beyond ‘instant messaging’ & calendaring
web 2.0 mash-up of data, including
Cisco Callmanager
Exchange calendaring
LCS instant messenger
office maps
Pulse workflows
PeopleSoft
BlackBerry BES
measured monthly – teams compete for best responsiveness score
>10,000 calls / month are now answered by knowledgeable person rather than
redirected to voice mail
highly scaleable
5 - displace non-productive activities/functions
Pulse – work practice redesign
over 30 administrative processes redesigned over the past
4 years, ie long term commitment
using and integrating ‘off the shelf’ technology, eg
Metastorm eWork, web technologies, Outlook integration
front / back-ending 3rd party workflows, eg travel booking
system
cultural change -> now part of the fabric of the firm
ROI higher than expected
the heartbeat of process change
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•
•
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leave requests
leave management
room bookings
VoIP integration
catering requests
visitor registration
inter-centre travel
•
•
•
•
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•
after hours meals
User Support services
data harvesting
course bookings
incident reporting
staff moves
building maintenance
administrative
processes
practice oriented
processes
business
case
client facing
processes
• electronic publications
• secondment management
• confirmation of instructions
• tenders management
• events management
• client fee estimates
• research requests & copyright declarations
• managing deal & league table submissions
• busy lists - capacity management
• paralegal workforce management
• management of intranet content
• CLE and external course bookings
• CV management
• new clients
• voicemail compliance
• rewards & recognition awards
• managing InterAction contacts
Presented by:
Elizabeth Broderick, Partner, Head of Legal Technology Group
Firm
Blake Dawson Waldron
Australia, China, Indonesia, PNG,
9043992
5 ways to improve the business of law
direct - increase the wealth of partners, eg through
commercializing home grown technology
direct - increase revenue by creating profit generating,
technology enabled services
indirect – improve the firm’s attractiveness to talent through
sustained strategic innovation
indirect - increase clients’ spend for legal services through
technology enabled services
indirect – improve the margin by displacing non-productive
activities & functions, eg through business process
reengineering
5 ways to improve the business of law
FOCUS ON:
direct - increase the wealth of partners, eg through
commercializing home grown technology
direct - increase revenue by creating profit generating,
technology enabled services
‘fit’ - firm’s business strategy & technology ‘reality’
Blake Dawson Waldron
Recommind Decisiv Email
direct - wealth creation for
partners
10
Pulse workflow
8
6
indirect - displace nonproductive activities
4
2
direct - profit generating online services
0
indirect - increase client
spend on legal services
indirect - attract/retain talent
PeopleFinder
TalentNet
firm strategy
technology "reality"
(c) gerard.neiditsch
Blake Dawson – firm background
full service, market leading law firm
focus on Australia and Asia
1,800 people
offices across Australia, Asia including China
operating in fiercely competitive markets
long term commitment to technology innovation
internal / external Board
It is often difficult to create new
revenue streams ……..
Business wants to innovate but difficult to implement a
sustainable program
Existing systems dictate against innovation (KPIs, budgets
etc)
Limited opportunities for people to provide ideas in a
systematic manner
Co-existence of different business models difficult
Law firm culture rewards perfection, not sufficiently
entrepreneurial
Innovation requires a different approach ……
Entrepreneurial culture
Fail fast, fail cheap mentality
Learning through exploration
Investment in technology
Range of skill sets
Diversity
Establishment of a Separate Entity
Evolution from Legal Technology Group to Salt
Legal Services
Test new online legal products
Test new markets (SME), distribution channels
Use technology to enhance existing client
relationships
Direct – creating new and profitable revenue
streams through …
transforming the business model
breaking the nexus between time billing and
profitability
creating alternative distribution channels
(expanding the business)
meeting the increasing demand for self service
offerings
One example - salt
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®
Trade Practices
Contract Fundamentals
Corporate Governance
Insider Trading
OH & S
Financial Services
Environmental
Workplace Relations
Data Protection
Anti Money Laundering
(used in 19 countries around the world, 7
languages)
Legal Training Evolves
Teacher Centric
•
•
•
•
•
Instructor controlled
Expert to novice
Time and location fixed
Bricks and mortar
Group discussion
Student Centric
• Empowers employee
• Leverages knowledge
• Provides just-in-time learning
anywhere
• Tracks progress for company
and student
• Increases speed to
productivity
salt business model
®
1 to many legal offering
Highly scalable (19 countries, 7 languages,
> 100,000 users)
Annuity stream business
Subscription based
Generic and bespoke
Multi disciplinary team
Will support all languages with exception of Hebrew and
Arabic
Global distribution channel - salt™ SME
salt home page
®
®
salt home page
salt reporting
®
Presented by:
Martin Metz
Director of Information Technology
O’Melveny & Myers LLP
‘fit’ - firm’s business strategy & technology ‘reality’
O’Melveny & Myers LLP
d irect - w ealth creation for
p artn ers
10
8
6
in d irect - d isp lace n on -
4
d irect - p rofit g en eratin g on -
p rod u ctive activities
2
lin e services
0
in d irect - in crease clien t
sp en d on leg al services
firm strateg y
in d irect - attract/retain talen t
tech n olog y "reality"
( c ) ger ar d.neidits c h@ malles ons .c om
Is Law Firm IT a Service or a Business?
Yes and Yes
Yes and No
Yes and I Don’t Know
Yes and Why?
Yes and Maybe
No and Yes
No and No
IT as a Business
Direct strategies to generate revenue
Litigation/Trial Support
EDD
Client IT counseling
Selling vetted work product
Marked up expenses (passé)
Indirect strategies to generate revenue
Extranets
Data Storage
Spin-off developed software
IT as a Service
Direct methods of generating revenue
Sound Infrastructure (keep it alive & healthy)
Normalized information flow (reduces cost of
operations)
Recognition, organization & reuse of internal
knowledge – better yet
Indirect methods of generating revenue
Training
24/7 access and support
cutting edge software and technology
Just because you did it, it doesn’t mean
someone else will buy it
Selling your software
Is that a good idea?
What is involved?
Giving your endorsements (who are you selling?)
Testimonials/speaking
Quotes
Whitepapers
Co-developing
It’s like sex before marriage
Questions to Ask Yourself Before You Take the
Plunge to Selling your IT?
Are you in business to sell legal services or technology?
Are you doing the essentials (service) as best you can?
Do you really have the expertise?
Is the firm willing to stay committed?
Do you understand your market?
Do you understand the ramifications legally and culturally?
What will it take to keep the lawyers interested? Is this just
a maverick?
Is your product available elsewhere?
‘fit’ - firm’s business strategy & technology ‘reality’
Bryan Cave LLP
Financial Dashboard, Planning Tools, Hours Management Tools
d irect - w ealth creation for
p artn ers
10
Audit Letter Management
Opinion Letter Management
8
Licensed Software, Training
Software, Custom Developed
Client Software
6
in d irect - d isp lace n on -
4
d irect - p rofit g en eratin g on -
p rod u ctive activities
2
lin e services
0
in d irect - in crease clien t
sp en d on leg al services
in d irect - attract/retain talen t
Diversity Dashboard, Decision
Support Tools, Problem
Management Tools (e.g. Carrier
Spectrum Management)
firm strateg y
Lateral
Recruitment
Tools
tech n olog y "reality"
( c ) ger ar d.neidits c h@ malles ons .c om
Products from your past?
Questions?
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