Take a minute to consider this set of questions: Does your firm use technology to spot transactional trends in the marketplace? Are you using technology to find competitive intelligence insights? Is it key to helping you discover new business opportunities?
Here is another set to consider: Does your firm have challenges that include knowing when and where trends change in practice areas? Identifying and quantifying relationships with current or potential clients? Or feeling in the dark on what competition is doing?
Answering such questions means being able to stay ahead of the curve. And that means finding technology that can always adapt to what's next. Technology must be able to adapt to the ever-changing trends and/or needs of the market. For the legal industry, technology must be well equipped to help spot transactional trends in the marketplace, find competitive intelligence insights and discover new business opportunities. However, staying up-to-speed with the latest technology can be a challenge.
The following list can help evaluate whether your technology is giving you the insights you need to effectively prepare for your next meeting and stay abreast of the competitive intelligence that will help land that next big case. Ask yourself, does my technology:
* Provide in-depth financial data. This can include private equity, loan information, merger and acquisition data, new business information, and cross-selling activities. Does your technology go in-depth, or is it barely skimming the surface of this information, leaving you with minimal data points with which to win new business?
Find a technology that works with you to display data in a format that saves legal professionals time, allowing them to feel better prepared for the next client meeting.
* Provide information in an easily digestible format. A firm should invest in a solution that provides enhanced information and reveals opportunities that allow company financial data to be easily digested and...