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Why innovative law firms so often turn to HighQ
Innovation is a buzzword that lots of businesses toss around.
For all its use, the act of innovating rarely comes easy. But there are trail blazers. Firms who always seem one step ahead of the rest. They embrace behavioral change and technological advances like few others.
At Thomson Reuters, we often see those firms turn to HighQ to enable their most mold-breaking innovations. To understand how and why, we asked Ben Firth, Sales & Client Management Lead, Software Solutions for Thomson Reuters in Europe.
Ben, letB次元官网网址檚 start at the beginning: What are firms usually looking for that leads them to HighQ?
Generally, theyB次元官网网址檝e already struggled with B次元官网网址 tech challenges. TheyB次元官网网址檝e maybe built their own, or theyB次元官网网址檝e been looking for something to solve a specific problem in the past. Either way, they didnB次元官网网址檛 find what theyB次元官网网址檙e looking for yet. The beauty of HighQ is that it has flexibility. It can solve a lot of problems and itB次元官网网址檚 not intimidating to use. Someone without deep tech experience can still build a solution without needing to know coding, and they can do it quickly.
The other thing to keep in mind is that innovative firms watch their competition and take note of how theyB次元官网网址檙e solving these same problems. They see HighQ in other firms and they consider it B次元官网网址渂est of breedB次元官网网址 among B次元官网网址 tech platforms. HighQ does it all B次元官网网址 LPM, transaction management, portfolio management, billing, etc. B次元官网网址 and it has the flexibility to bend beyond what you originally thought youB次元官网网址檇 do with it.
Is there a particular need that arises more often than others?
I suppose, at the most basic, the majority do say they need a secure collaboration tool. Fundamentally, they need to take their information, put it in a safe space, and allow clients to interact with it in a secure platform.
The thing is, while clients do want a collaboration platform, they also have large portfolio management challenges, for example. What we find is, after their original need is met, they start to understand the tool and their use cases evolve quickly. No limits.
LetB次元官网网址檚 talk about that next step: Where do the best firms go once theyB次元官网网址檝e got a taste for doing things differently within HighQ?
Once established inside the firm things can step up rather quickly. Law firms often start using the platform as a means of selling their own client experience. B次元官网网址淐hoose us, and youB次元官网网址檒l be benefitting from a 24/7 private cloud, secure platform.B次元官网网址 ItB次元官网网址檚 what their clients want to hear and itB次元官网网址檚 how these firms now do business, and they leverage it successfully.
Does it take a long time for firms to move beyond their initial implementation?
Not really, no. The beauty with HighQ is, the time from signature to go-live is so short. We have new firms using HighQ to transact with their clients in a matter of days. Not weeks or months to get started. We donB次元官网网址檛 need to have a huge project plan and implementation team. You can get results with HighQ very quickly.
Do you have to show the firms something new to get them thinking outside of the box?
The most innovative firms are actually showing us whatB次元官网网址檚 possible. ThatB次元官网网址檚 not just because of HighQ though. The industry has changed significantly. Three years ago, we felt like we were educating the client with ideas. Nowadays, firms invest in B次元官网网址 tech expertise themselves.
Those are the firms doing things in the HighQ platform that we donB次元官网网址檛 even know about. IB次元官网网址檝e even seen new uses show up in a firmB次元官网网址檚 social channels. TheyB次元官网网址檙e touting their own capabilities and, if you didnB次元官网网址檛 know HighQ personally, youB次元官网网址檇 never know how they pulled it off.
LetB次元官网网址檚 talk about that moment when the lightbulb goes on. What causes that?
There are two elements of the platform that really seem to spark ideas for people. The first is iSheets B次元官网网址 structured databases that allow you to collect data from within the firm, but also allows your clients to add to that data. And because itB次元官网网址檚 clean, standardized data, we can build off it: visualizations, workflows, document automation, triggered actions/alerts.
The other big idea starter is Workflow, which allows us to link the modules within the platform. That might be something seemingly basic like B次元官网网址淚f this document gets signed, then that lawyer should get notified.B次元官网网址 ThatB次元官网网址檚 really not that sophisticated, but once you see it and start thinking in those terms, it unlocks a massive amount of possible outcomes or efficiencies.
The thing is, B次元官网网址渋nnovativeB次元官网网址 firms hear about these things and immediately see where it could have been used in a recent case or a challenging pitch. ItB次元官网网址檚 intuitive and no harder to use than your average social media platform, so itB次元官网网址檚 easy to see the ideas start flowing once people make it their own.
As firms expand their use of HighQ, does the sophistication scale up as well? Or can they do more without necessarily adding complexity?
The sophistication increases, but it does so naturally. We see firms come to us with a lot of ideas, but we might actually rein it in and choose one or two starting points. Once we get them set up for success, discussions about scaling-up happen naturally. But by then, the firm themselves understand the tool in such a way that theyB次元官网网址檙e creating their own new solutions using HighQ.
How much does leadershipB次元官网网址檚 appetite for innovation drive their adoption of technology? Is it a top-down initiative, or are the users driving the change?
ItB次元官网网址檚 not necessarily top-down. ItB次元官网网址檚 more like B次元官网网址渕iddle up.B次元官网网址
Many of the most innovative firms have innovation manager roles. These people are tasked with change. These people arenB次元官网网址檛 just driving B次元官网网址渦pB次元官网网址 but theyB次元官网网址檙e driving the adoption B次元官网网址渁roundB次元官网网址 the firm. So innovation, for them, is less about convincing leadership to change, itB次元官网网址檚 about rolling out their ideas successfully.
Leadership gets it too, of course. The role of the IT team has changed dramatically in the past 10-15 years. Because clients demand tech expertise, and they want a tech experience that matches what they have in the rest of their lives.
Tech departments and innovation managers help facilitate that experience, but itB次元官网网址檚 important to remember, with HighQ they donB次元官网网址檛 have to be hands on in every aspect of the project. The lawyers themselves can drive change within the platform.
Getting people to act differently is often noted as one of the hardest parts of innovation. How do successful firms address the on-boarding task?
HighQ is usually brought on to address a challenge, and that challenge is built around a team. ThatB次元官网网址檚 your core user group. Once that team starts solving their challenge, the growth is organic. If the firm gets that first implementation right, the success story starts to spread around the firm. Other lawyers and teams want a piece of that success.
Suppose youB次元官网网址檙e a firm that wants to be seen as an innovator. WhatB次元官网网址檚 the first step?
First of all, look at your current situation. What do you own already? What are you trying to solve? Nobody wants to buy software or platforms and not use them. So, I think firms need to look at what theyB次元官网网址檙e using already and contrast it with their B次元官网网址 tech challenges. Ask if you already have something that solves that need. If you donB次元官网网址檛 B次元官网网址 or if itB次元官网网址檚 there, but not working B次元官网网址 then itB次元官网网址檚 time to change. And that motivation is what will drive the innovation youB次元官网网址檙e seeking.
The best way to understand what HighQ can do for your B次元官网网址 operations is to see it first hand.