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Hildebrandt International Publishes White Paper on Law Firm Relationship Intelligence Strategies

Report provides direction on aligning cultural, process & IT resources to better leverage relationship assets for competitive advantage

SOMERSET (NJ) & OAK BROOK (IL), 18 September, 2002: Hildebrandt International, the leader in providing strategic advice, managerial guidance and implementation support to professional services organizations and corporate legal departments worldwide, has released a new white paper entitled, Relationship Intelligence in Competitive Markets. The white paper examines the critical role that Relationship Intelligence plays in helping law firms uncover new business opportunities, enhance client service and differentiate themselves from the competition. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise.

According to the white paper, in today's competitive economic climate clients have become sophisticated and demanding consumers of legal services. As the services lawyers provide increasingly are perceived as fungible, the value of cultivating, maintaining and leveraging long-term relationships has never been greater.

The white paper points out that as firms grow and diversify, their ability to capture, aggregate and manage client information from myriad sources becomes increasingly difficult. Unless a Relationship Intelligence system is in place to capture and store information about a lawyer's relationships as part of the firm's institutional knowledge, a firm's ability to grow and leverage its inventory of expertise and experience can be crippled.

The white paper also details the people, process, and cultural issues that must be in place to support a Relationship Intelligence strategy. According to Curt Canfield, a partner at Hildebrandt International, the challenge is to increase the competitiveness of the firm by focusing on increasing lawyers' ability to provide more responsive client service, by focusing marketing efforts at the right clients or prospects, and by delighting the client with personal attention during every interaction with every member of the firm—from fee earner to accounting clerk. "If executed properly, this new orientation moves the lawyers and their support staff from an individual, paper hoarding mode into a collective, online, information sharing and collaborative mode."

The Hildebrandt International white paper is the first independent analysis of the legal sector that speaks to the new economic realities that are shaping the way law firms must operate moving forward. "Increased competition and commoditization are resulting in downward price pressures and profit squeezes similar to that which we witnessed in the corporate world in the 1990's," said Canfield. "To compete effectively in this environment law firms of all sizes must adopt a stronger corporate model that is capable of leveraging relationship assets for competitive advantage. An effective Relationship Intelligence strategy will be critical to their success."

The new white paper is now available for download at Hildebrandt International's website at: www.hildebrandt.com/home. The white paper can also be accessed from Interface Software's website at www.interaction.com/hildebrandt.

About Hildebrandt International
Hildebrandt International is the legal industry's leading management consulting firm. It serves law firms, legal departments and other professional services firms of all sizes throughout the US and around the world. In addition to its existing offices in Washington, DC, Chicago, San Francisco, London, Somerset, NJ and Naples, FL, Hildebrandt International recently opened a new office in Munich. For more information please visit Hildebrandt International's website at www.hildebrandt.com.

About Interface Software
Interface Software is the leading provider of CRM solutions enabling professional services firms to create the Relationship Intelligence they need to generate new business and enhance client service. Its flagship product, InterAction, is a flexible and uniquely designed platform that delivers this Relationship Intelligence throughout the organization, quickly, efficiently and cost-effectively. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise, empowering professionals to leverage who and what they know to uncover new revenue opportunities, differentiate themselves from the competition and enhance client service. InterAction is internet-enabled, allowing professionals to view information however they choose—through knowledge management platforms, corporate portals, intranets, extranets and wireless devices. For more information please visit Interface Software's website at www.interaction.com.

 
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