With today’s data collection capabilities, law firms can capture more insights than ever about their client interactions. This “relationship data” could help you grow your firm, but what tools do you need to make sense of it? Christopher Anderson talks with Scott Wallingford of LexisNexis about how analytics tools give your data clarity, allowing you to maximize client relationships for greater profitability.
For more insights, Scott recommends InterAction.com to help you leverage your firm’s data.
Scott Wallingford serves as vice president and general manager of law firm software solutions at LexisNexis.
Special thanks to our sponsors, Nexa, Solo Practice University, Scorpion, and Lawclerk.
The Un-Billable Hour
Pay Attention to What You’ve Got
Intro: Managing your law practice can be challenging. Marketing, time management, attracting clients, and all the things besides the cases that you need to do that aren’t billable. Welcome to this edition of The Un-Billable Hour, the Law Practice Advisory Podcast. This is where you will get the information you need from expert guests and host Christopher Anderson, here on Legal Talk Network.
Christopher T. Anderson: Welcome to The Un-Billable Hour, the Law Practice Advisory Podcast helping attorneys achieve more success. We are glad you can listen today on Legal Talk Network.
Today’s episode is about — it’s about marketing, but it’s also about sort of the nexus of production and marketing. We are going to learn a lot about maximizing your relationship with your clients and by that maximizing the results that you get from them.
Our title for the show today is Pay Attention to What You’ve Got. And my guest today is Scott Wallingford. Scott is General Manager of LexisNexis Business of Law Software Solutions. They deliver solutions designed to help law firms and corporate legal departments drive growth and manage their operations.
The portfolio of solutions that Scott manages includes InterAction, which is client relationship management software, CounselLink, enterprise legal management software and Juris, financial management software.
And I am your host Christopher Anderson and I am an attorney with a singular passion for helping other lawyers achieve success with their law firm businesses.
In The Un-Billable Hour each month we explore an area important to help you be a more profitable lawyer, through growing your revenues, getting back more of your time and/or getting more professional satisfaction from your business.
The Un-Billable Hour is dedicated to bringing you guests each month to help you learn more about how to make your law firm business work for you instead of the other way around.
Before we get started I do want to say a thank you to our sponsors; Nexa, Solo Practice University, Scorpion and LAWCLERK.
Nexa, formerly known as Answer 1, is a leading virtual receptionist and answering service provider for law firms. Learn more by giving them a call at 800-267-9371 or online at www.nexa.com.
Solo Practice University is a great resource for solos no matter how long you have been practicing. Make sure you check out solopracticeuniversity.com and learn how to run your practice better.
Scorpion crushes the standard for law firm online marketing with proven campaign strategies to get attorneys better cases from the Internet. Partner with Scorpion to get an award-winning website and ROI-positive marketing programs today. Visit scorpionlegal.com/podcast.
LAWCLERK, where attorneys go to hire freelance lawyers. Visit lawclerk.legal to learn how to increase your productivity and your profits by working with talented freelance lawyers.
And again today’s episode of The Un-Billable Hour is Pay Attention to What You’ve Got and my guest is Scott Wallingford. Scott is again the Vice President and General Manager of LexisNexis Business of Law Software Solutions.
Scott, welcome to The Un-Billable Hour.
Scott Wallingford: Thanks Chris, great to be here.
Christopher T. Anderson: I welcome you to the show, really excited to have you on. And one of the traditions, if you have ever heard the show, one of my traditions is lousy introduction. I think actually this one was better than most because your team helped me with it, but I still think it left a lot out. So if you don’t mind, let’s just start with like where do you come from and what are you currently doing with LexisNexis, what brought you to being interested in this particular topic?
Scott Wallingford: Oh, you bet. So as you said, I run the software division for LexisNexis and my history is really as a software guy. I am not from legal, joined legal a couple of years ago, but as a software guy I have spent a lot of years, more than I care to count sometimes, on really building new businesses and revitalizing mature ones. And when I think about what makes great software, my focus is all around building teams that operate in what I call a lead by listening mindset, where you work with your clients, listen to the market to develop outstanding capabilities that help your clients succeed.
I joined LexisNexis in about late 2015 with a goal to help grow the software business. Flash forward a couple of years and I run the whole portfolio now. So each day I spend time with our clients, with our teams to try to develop new value for our clients to be more successful in growing their business, retaining their clients and building larger, happier, more successful law firms.
Christopher T. Anderson: Well, fantastic. I think it’s interesting leading by listening, it’s a passion of mine as well and of course we are going to flip the script on you today because my listeners are probably your customers and now they get to listen to you, because you can’t hear them through the magic of the microphone here, it’s one way and only they can hear you, but at the end of this show I will ask you for ways that they can reach back out to you and your team if they have further questions about what we talk about. So I hope you will be able to share some ways for them to do that.
Scott Wallingford: Terrific.
Christopher T. Anderson: Yeah. So recently LexisNexis, your team released a Law Firm Marketing & Business Development survey and in this you looked at collaboration all across the law firm as one of the biggest challenges that’s facing larger law firms in the United States. Can you like discuss a little bit about what you learned from them? First of all, why did you do this survey? What was the question you were trying to ask or get answered and learn about and what did you learn from going through this process?
Scott Wallingford: Oh sure. I personally love this survey. We have done it for a handful of years, so we ask some of the same questions each year and also add some new ones. But it’s really one of the mechanisms, we listen to the market, so this whole lead by listening, part of it is through a survey, extensive, quantitative survey and qualitative feedback to understand when you think about growing a law firm, what is it that is most important or most challenging, whether it’s a marketing team, a business development team, the practicing attorneys, how does all that come together, because it takes everybody working together in order to achieve the growth goals, right, which tends to be more clients, better relationships, more repeat business and the opportunity to build on that base.
And one of the things that really comes through is collaboration across the firm. Look, attorneys are busy, right, serving their clients, attending conferences, symposiums, drafting thought leadership to accentuate what they do really well into the marketplace, they are fully booked and have a lot of trouble tying goals as well and so that collaboration is really hard internally. And so how do you get the attorneys as well as the marketing people and business development teams to collaborate — identify the opportunities, how they are going to go after them, how they can work together to be more successful so that you are spending time in the most efficient way, that tends to be our most precious resource, the billable hour and the surveys are just one lens into what are the challenges for different law firms.
Christopher T. Anderson: Sure. And of course these lawyers and the law firms I mean they probably missed, as I did in law school, the class on how to collaborate with your marketing team or your business development team, the class on how to maximize per client profitability for growth. So tell me about what you have learned through the process? So you are asking these questions, what did you get back?
Scott Wallingford: Some of it is pretty straightforward, but it’s a big challenge, right, that we are all time stretched so bringing people together to collaborate is really hard.
The other thing that we have noticed is it’s getting better. So this has been a survey question we have had for the last couple of years and it’s been in the high 60s as number one priority and we can’t seem to get it right and now we see about 42% of the firm saying it’s their top challenge in 2019; now, that’s down from 56% just a year ago.
So on the positive, right, the collaboration, the willingness to get together and work together is improving, but it’s also not easy. So you have to be very focused on this. The part that I do like to see is the players; the marketing, the business development, the attorneys are getting together on what are the right priorities, get focused on a few things. And then we have been able to evolve technology to be more relevant to supporting the connection between marketing and business development and attorneys, which then also brings in the CIO or CTO, depending on how you title it, but the technology experts.
So how can you use technology to make the process of collaboration better, more effective; often that comes through data. It’s one thing to say hey, let’s meet once in a while; it’s another thing to say hey, based on we would like to go build a business with these clients to be able to capture the data your firm knows about those clients to better go after here is how we should engage with this particular person. They go to this conference every year. We should make sure we have got a speaking role or we should engage them while they are there.
So what’s fascinating is the survey highlights some of the topics and then you can drill down on how each person plays a role, including the technology folks where this question didn’t start with them.
Christopher T. Anderson: Right. And do you feel that, because this is an opportunity to blow your own horn, but I think it’s an important question is, you started you said doing this survey a few years ago and then things have improved. Do you feel like you have actually brought the results back and brought solutions to these law firms that have helped to move that needle down a little bit?
Scott Wallingford: Oh, everything we do is based on client feedback, market understanding, the trends we see within legal as well as outside legal to help the firms be more effective. And so we continue to evolve our products to address the needs that these firms articulate or some of them just they articulate their frustrations and we work on how to help solve that. It’s sort of that unarticulated need, I am really struggling with this and when you break it down, it’s about connecting some of the data.
Christopher T. Anderson: Yeah. Well, then that leads me to the great segue, so data. Obviously a lot of this and understanding — our clients understanding what’s going on in the business in collaboration, data is the key, because the data really tells us what’s really happening, what we really need to accomplish. How do you see law firms using data right now to understand and better analyze their interactions with their customers and their clients and manage those relationships?
Scott Wallingford: You know I think they are at the cusp of really making the turn, and what I mean by that is over the last several years we have seen this resonance with we need to capture data. And data is terrific, but at the end of the day data is exploding and the ability to manage all of it is really difficult. What you are really looking for are those data-driven insights that allow you to do something special.
And from a LexisNexis perspective we invest a ton of our R&D and technology dollars into how can we help the professionals make better business decisions, inform their clients better. So we use this approach to not just capture data, but to capture the right data, connect the right dots and make it automatic. So you don’t have to do a ton, we can kind of connect the dots for you and feed you the insights, and that’s a big change, right?
Christopher T. Anderson: Yeah and I mean I think it’s — it is a big change because I think a lot of people got on the bandwagon of collecting data a while back and now everybody — or a lot of people are sitting on a big giant pile of data, but it’s not particularly organized, it’s not particularly normalized and not very useful for them. So helping them to actually get insights out of that is fantastic.
I am talking with Scott Wallingford. Scott is the Vice President and General Manager of LexisNexis Business of Law Software Solutions and we are talking about collaboration within law firms across disciplines, so the marketing team, the business development team, the legal team and the IT team and how they are using data or we actually just started talking about how they have begun to use data to understand their interactions with their clients and the relationships with their clients.
We are going to take a break and hear a word from our sponsors here. When we come back I will talk a little bit about actually how they are using that data, but we will be back right after a couple of words.
Advertiser: Feel like your marketing efforts aren’t getting you the high value cases your firm deserves? For over 15 years Scorpion has helped thousands of law firms, just like yours, attract new cases and grow their practices. As a Google Premier Partner and winner of Google’s Platform Innovator Award, Scorpion has the right resources and technology to aggressively market your law firm and generate better cases from the Internet. For more information, visit scorpionlegal.com/podcast today.
Advertiser: Ready to create and build your own solo or small firm practice? Need a nuts and bolts education on the 360 degree experience of starting a business? There is only one online destination dedicated to helping you achieve your goals, Solo Practice University, the only online educational and professional networking community dedicated to lawyers and law students who want to go into practice for themselves. More than 1,000 classes, 58 faculty and mentors, what are you waiting for? Check out solopracticeuniversity.com today.
Christopher T. Anderson: Welcome back. I am talking with Scott Wallingford, General Manager of BLSS or Business of Law Software Solutions at LexisNexis and we have been talking about the fact that law firms have been accumulating some data that helps them to understand their client interactions and the relationships. What I wanted to ask coming back now Scott is how are these law firms now leveraging that data? How are they beginning to use the contact data, the relationship data to be more effective in their relationships with their clients?
Scott Wallingford: Well, they are starting to, that’s the encouraging part. If I reflect back to the survey, like a couple of the key findings we found that only about 9% of firms use analytics to actually track their business opportunities over the lifecycle. So they are tracking this data, but not always applying it into how are we doing against some of the strategies we laid out to build those relationships with our future clients.
On a better note, about 40% of firms with a CRM are using that client relationship data to create more targeted strategies. So again, it’s not about a one-to-many just blast an email type of thing, it is really about targeting the right strategy to get to the right type of clients and make sure that you are building that relationship ahead of when the client would actually need it. So I think we are starting to see it turn a bit of firms have been capturing a lot of data, but they are starting to ask, how do I turn that into those more insightful solutions and that’s a big part of where our product development path has gone.
Christopher T. Anderson: Is to help them answer those questions?
Scott Wallingford: And not just answer them where, okay, I have to remember to go jump into this analytics tool to answer this question, but we have been on this path to embed more that client relationship information into what I call the attorneys’ native workflow, which tends to be Microsoft Outlook. And so we have got sort of a side panel, if you will, that when you are about to draft an email to a current client, a prospect, whomever, everything your firm knows about that particular individual, that company is shown on that side panel.
Why that’s important is it’s fed to you, so it’s embedded in your workflow, you don’t have to look for it, it is always updated and you are now able to connect things that you didn’t know. So if you are in a multi-office firm, you may not have known that somebody from the Phoenix office had just been talking to so-and-so yesterday. Well, now you can connect those dots and you can see like wow, these guys are always talking about me. I feel really good as that prospective client.
So it’s really about trying to bring those insights right up front to the practicing attorney so they don’t have to go look for them, but they can make better use of them to position the strength of the relationship and how much they do care about those clients in a really positive way. And it’s been really effective. Clients are very positive.
We have also started to add in curated newsfeeds, if you will, so that in that same panel you can stay up to date on what’s the latest news about this individual, this company, this industry. So again, you are not trying to remember, did you see that on some newsfeed that you saw this morning, but it’s real-time, and most importantly all of these capabilities are built to be device on the go. So whether you are using your laptop or desktop in your office, you are at home in your home office, you are on your iPad, you are on your phone, these same capabilities are available so you are equally productive wherever you may be, which these days for an attorney they are on the go.
Christopher T. Anderson: Yeah, yeah, and what’s really exciting about that as I think about it is like as a practicing attorney I know I would spend a lot of time browsing news sources, whether it be the Bar publication or business news sources, or the Wall Street Journal or LinkedIn to sort of be on top of things and probably in doing that 10% or less of what I was actually consuming was relevant to my work that day or even that month or maybe even that year, I mean it sounds like this is really delivering relevant content to me, saving me a lot of time and dispensing with 90% of what’s less so.
Scott Wallingford: Oh, exactly, you hit the nail on the head, how do I take the massive data and pull out those three or four nuggets that are most relevant to you now.
Christopher T. Anderson: Yeah. So do you have some examples, like what are some of the data — what are some of the types of insights that are helping law firms really better see, highlight growth opportunities for them that they can seize upon proactively rather than reacting to their client’s needs?
Scott Wallingford: Yeah. So one of the things we see is if you are in a multi-practice firm is how do you introduce other practice areas to that same client, and when you can tell that it’s only been your practice area, engage with this client, but then you can couple it with news you see about this industry, this client, etc., that they might benefit from intellectual property, how do you introduce your intellectual property folks there. You can be very thoughtful about I see that there is a need from this particular firm or this industry, how do I introduce my partner in there so that we are sharing the benefit of all the great work I have done and the trust I have built with another part of the business, we are now stronger as a firm because we have multiple areas engaging with that client.
We have some relationship scoring, if you will, that looks at what’s the type of interactions you have been having with this client; how frequently an email, meetings etc., that even longitudinally we can see if it’s been dropping. So you can then see the AI application of, hey Chris, did you realize that this client has been on your top ten list for a while but your relationship strength has been dropping because you haven’t talked to that person or met with them in the last three months or six months or nine months. Well, that’s probably not good, right?
Christopher T. Anderson: Right.
All clients like to feel the love, so it’s a little bit of the nudge on hey, I should really reach out to this client to make sure that they know I am here, I am engaged, trying to help them, when can I see them, etc.
So there is lots of opportunity just connecting the data and that’s just what your firm knows about these folks, which is terrific.
Christopher T. Anderson: Yeah, the internal data, what you do know about them, what you don’t know and what your interactions have been, so you can I guess acting in consistency with what you believe, like so you think this is one of your top 10 clients, maybe you should be spending that kind of time with them. I think that’s — it could be a powerful insight for you.
Scott Wallingford: And you know what’s great is some of these same insights really resonate with that senior partner who can look at like the top X clients and just get a pulse very quickly of, are we engaged with our clients, our key clients especially sufficiently often? Is this relationship score improving, that’s what I would love to see or is it declining? And it can get granular to a degree, is it just the partner who is engaged or has the partner delegated everything to a junior associate?
Christopher T. Anderson: Right, yeah.
Scott Wallingford: It’s easy to do, but perhaps not great for the long-term health. As I like to remind people, every one of your current clients is on somebody else’s business development list, so you have to be really good and engage with your current clients, help them be more successful by sharing the other practice areas in your firm so you can do more business with them as well as then find some new clients and you have to do all three and do it well.
Christopher T. Anderson: Absolutely. So I noticed in the survey that you did, one of the results, one of the findings that you came about with was that really, really few law firms, I think the number was under 10%, are using analytics to track their business opportunities over the lifecycle of the business opportunity.
First of all, can you describe what that really means and then why you think that is?
Scott Wallingford: Sure. I think what it is and why it matters is again clients are capturing a lot of data without a clear insight onto what do I do with this. The general view is more data is better and we will sort it out later and they haven’t figured out the right analytical approaches to connect this data to tell them something meaningful about how they are engaging in their business opportunities.
And there are different stages to the opportunity lifecycle, if you will, so you need to be thoughtful about kind of what are we trying to do at each stage and are we managing this prospective client through that stage, right? And in my mind that is just deepening your relationship from first introduction you may not have heard of me or my firm, but I would love to get to know you and over time building it up to hey, should you have an issue around X, Y or Z, I want to be top of mind when you say you know what, I need some legal advice, who do I know that is really deep in this area, because this is important.
And as I have told many people from my experience outside of the legal industry, professional services are bought, they are not sold. No one walks in and sells you legal advice, right?
Christopher T. Anderson: I know you weren’t thinking this today while you were eating dinner, but I would like to sell you some legal services.
Scott Wallingford: But when somebody needs it you need to be top of mind and that’s why this whole relationship development is part and parcel with business development, right, it’s building that trust over time in the right way such that when that opportunity hits, the client thinks of you first.
Christopher T. Anderson: Absolutely. All right, we are talking with Scott Wallingford, General Manager of Business of Law Software Solutions with LexisNexis and we have been talking about — right now we have been actually talking about the fact that very few law firms are actually already using analytics to track their business opportunities over the lifecycle and one of the reasons that Scott has articulated is that they have been collecting the data, but they just haven’t really identified how to analyze that.
When we come back I will talk to Scott about where he sees that going and other trends, but first a word from our sponsors.
Advertiser: LAWCLERK is where attorneys go to hire freelance lawyers. Whether you need a research memo or a complicated appellate brief, our network of freelance lawyers have every level of experience and expertise. Sign up is free and there are no monthly fees, only pay the flat fee price you set. Use rebate code “UNBILLABLE” to get a $100 Amazon gift card when you complete your next project. Learn more at www.lawclerk.legal.
Advertiser: If you are missing calls, appointments and potential clients, it’s time to work with Nexa Professional. More than just an answering service, Nexa’s virtual receptionists are available 24×7 to schedule appointments, qualify leads, respond to emails, integrate with your firm’s software, and much more. Nexa ensures your clients have the experience that they deserve. Give them a call at 800-267-9371 or visit them at nexa.com/podcast for a special offer.
Christopher T. Anderson: And we are back with The Un-Billable Hour, talking with Scott Wallingford and we have been talking about the fact that a lot of law firms are accumulating data, but under 10% of them in the last survey were really putting that data to a good analytical use. And Scott said one of the reasons of that is they just haven’t really identified what the right tools are to conduct that analysis.
Was there anything more to that Scott or do you think that’s really what the problem is?
Scott Wallingford: Yeah, I might phrase that slightly differently in that sometimes they don’t know the question they are trying to answer and it’s a, what do I do with this and you really have to invert it and ask yourself, what am I trying to do with the data, right? What is it that would help me be better, be smarter, be more effective with this client.
One of the things we have done is connected Microsoft Power BI to our InterAction product to make it really easy for firms to gather the insights and also customize the views they would like into their data. That has been really powerful to help them think through clear strategies and hence some of the data behind it. At the end of the day having a strategy with no data to inform, is this a good spot to be or not is pretty risky.
Again, if hours are the most precious resource you have, to not be thoughtful in your business planning on where do we want to go invest time to develop new clients, you can waste a ton of hours and nothing drives attorneys more crazy than to know that they have spent a ton of hours working with marketing and business development and it was a waste of time, right?
Christopher T. Anderson: Yeah, yeah.
Scott Wallingford: It’s hard to rebuild that confidence. So we try to invest a ton in great ways to capture the insights out of the data, but also we have developed some capabilities to help you track and manage those opportunities and pursuits so that the management of that process, the tracking of the tasks, the automation of reminders that, oh Chris, you were supposed to do something around X, Y, Z client, you were supposed to send this piece of collateral, you may have just forgotten because you are busy.
We have a way of automatically reminding you to do that or now you have got a much more robust way to manage that overall process, which it’s all based on the data, it’s based on the follow-up and you can easily track, is this successful in building these relationships.
Christopher T. Anderson: Yeah, and it’s doing that in a way that’s reconnecting and making sure that the relationships inside the firm are also being maximized and you are not building up that frustration for did I waste time talking to marketing or business or IT?
Scott Wallingford: Exactly.
Christopher T. Anderson: So the statistic was that really small number of law firms are using analytics to track their business opportunities, where do you see that going over the next couple of years?
Scott Wallingford: I do see it growing. I do see that the tide is turning a bit on people being willing to ask the right questions and say how do I answer that as opposed to throwing up their hands and saying well, that’s a great question but we have no way to figure that out.
Christopher T. Anderson: Yeah.
Scott Wallingford: Part of it is we have been bringing people from outside legal that have been answering these questions in other industries, part of it is the tools have gotten more user friendly so you no longer need a PhD in analytics in order to make sense of the data, and that’s a big path that we are leveraging. Power BI and some of our AI capabilities to bring the insights to you sort of automatically without you having to dig in and leverage that PhD in analytics that you don’t have.
So it’s going to keep growing, no question, and when you think about it, the competitive pressures are tough as much as — recent economy is quite strong. I have yet to hear firms say we no longer think we have competitive threats. I mean something on the order of 63% of law firms report losing business to alternative legal service providers. 85% of law firms are seeing nontraditional service providers threatening their space, including the insourcing of work by corporate counsel; they used to be my client, now they are competing for the same work, how does that work. So it’s a tough balance.
Christopher T. Anderson: Yeah. Do you see that there is a possibility for these law firms to actually apply these new found analytical skills to their clients’ businesses to actually help their clients see trends within their own businesses?
Scott Wallingford: Oh, absolutely. Once you start down the path of how to leverage analytics to make you more informed, you start connecting dots in a different way. So some of this is, the things you look for in the news sources may differ, but you are also connecting that to what do you see in kind of how you have been engaging with the different firms or publications about what their competition is doing. There is sort of a variety of data points you can get at that help give you a more robust view.
And it also means you are having different conversations with the clients. It’s not just about legal advice on a specific issue, it is about that relationship as their trusted business advisor as well, helping me think about where do I need to go and what are the things I should be concerned about so I protect myself or mitigate those risks, whether it’s a legal topic or just commonsense on other fronts.
Christopher T. Anderson: Yeah. And I mean one of the things that really stuck out to me that you said was that one of the problems in the low adaptation or low adoption right now of using analytics tools is not knowing what questions to ask and I think, I will just go out on a limb here that part of that is like not even knowing that you have the capability to get that question answered. As these law firm businesses get more experience with asking questions and knowing that these answers which would have been impossible to get only a few years ago are actually available, they start to learn how to ask more questions I would guess.
Scott Wallingford: Exactly and more specific questions, right, around how has attending this conference helped us build stronger relationships with people in this industry. Well, that’s a question nobody could quantitatively answer in the past, right? You do this poll that said hey Chris, do you think it was worth you going to that conference? Yes. Did you meet anybody new? I think so. Did you get any business from that? Not sure.
Christopher T. Anderson: Probably, yeah.
Scott Wallingford: Did we deepen relationships? Oh absolutely. And now you can put more of the rigor around it, because if we are sending you to a conference and it’s a huge waste of your time, you probably have better things to do with that.
Christopher T. Anderson: Right. Or if we are about to stop sending me to that conference and we discover it was a hugely valuable investment of time, it goes both ways.
Scott Wallingford: Exactly. And some of these activities are also around reinforcing the relationships. So yes, we have gone to the conference and because I took the action to say well, who do we think is going to attend that conference, maybe we look at customer lists of people that went there previously, many conferences will give you the list of people saying they will attend, you can look at it very quickly against your client data to say are any of these people prospects you would like to know or current clients you have.
Well, now you actually also know who to target rather than showing up there and saying well, I will just wander around until I see a friendly face. You know that, you know what I haven’t seen Steve Jones in quite a while, I am going to have to make a an email ahead to say hey, can we grab some coffee. You are now making higher use of your time, but building those relationships in a very thoughtful and strategic way rather than happenstance.
Christopher T. Anderson: Fantastic. All right, as we come to the end of the show I wanted to ask you, we have talked about trends around analytics, I just want to ask you more generally, are there any other trends that you see going into this year and into this next decade that you would like to speak to and tell our listeners about that you see coming?
Scott Wallingford: You bet. There is one that is personally a favorite of mine I guess I will say, it’s called the hybrid cloud. So many people are familiar with the cloud and it’s sort of this all-encompassing, somewhat ambiguous concept, but I have to change everything to go to the cloud. One of the concepts we have been building and have released a couple of products that are deployed this way is to decouple the software application from the underlying database.
Now, why that’s important is many law firms want direct control over the database, but they also would love to reduce their IT team size or costs, etc. and so by having the application delivered in that Software-as-a Service model that can connect to your database you kind of get the best of both worlds. I am totally secure. I own the data. There are no blind subpoenas. I own the encryption keys, all of those things that are really relevant to the practice of law.
But I can also not be in the IT game anymore than I need to and I can capture the Software-as-a-Service aspect on the application. And so that’s the path we at InterAction are going down, it’s been amazingly well received, because clients see the optionality they have and they can — we will have in near-term a full cloud offer as well, so they can be on-premise, hybrid cloud or full cloud and here is what’s really magical, they can even step back and forth through there as their interpretations of their needs and what’s expected from their clients and the global expectations on data privacy, etc., these things are all going to change over time, we give them a bit of flexibility, but in all cases they own the keys, they own the encryption keys so the data is theirs, it’s not ours.
Christopher T. Anderson: That sounds like a very interesting trend. Thank you Scott.
Scott Wallingford: It’s a really exciting time to be in this space.
Christopher T. Anderson: Yeah, indeed. All right. That about wraps up this edition of The Un-Billable Hour, The Law Business Advisory Podcast, and our guest today has been Scott Wallingford, VP and General Manager of LexisNexis Business of Law Software Solutions.
Scott, at the top of the show I asked you I think listeners will probably want to know a little bit more about several of the things we talked about, what’s a good way for them to be in touch with you to get more information?
Scott Wallingford: Let’s see, I guess through our website is probably the easiest path, lexisnexis.com, then we have the BOSS drop down, but if you are interested in InterAction, which I have spent a bit of time talking today since it’s all about the growth of law firms, interaction.com is the easiest way. We would be happy to show you the cool new things we are working on.
Christopher T. Anderson: Fantastic, those are two great resources. Scott, thanks so much for being on the show.
Scott Wallingford: Thanks Chris. Really enjoyed it.
Christopher T. Anderson: My pleasure and of course this is Christopher Anderson and I look forward to seeing you next month with another great guest as we learn more about topics that help us build a law firm business that works for you.
And remember you can subscribe to all the editions of this podcast at legaltalknetwork.com or on iTunes.
Thanks for joining us and we will see you again soon.
Outro: The views expressed by the participants of this program are their own and do not represent the views of, nor are they endorsed by Legal Talk Network, its officers, directors, employees, agents, representatives, shareholders and subsidiaries. None of the content should be considered legal advice. As always, consult a lawyer.
Thanks for listening to The Un-Billable Hour, The Law Practice Advisory Podcast. Join us again for the next edition, right here with Legal Talk Network.