New clients and engagements are the lifeblood of law firms, which is why winning and taking on new business is such a critical process.
Firms must first be able to fully leverage their existing contacts and relationships to grow their business. Successful firms have learned that solid relationships are essential to winning new - and keeping existing - business in today's increasingly competitive marketplace.
Next, firms must be able to intelligently price new engagements, balancing the desire to maximize profitability against growing client demands for discounts, price breaks, and alternative fee arrangements.
Taking on new business can also expose firms to risk in the form of conflicts of interest. Poor visibility of existing - and even previous - relationships can cause embarrassment, upset clients, and cost firms in fines, settlements, and higher malpractice insurance premiums.
Finally, firms must be able to streamline their file opening process - a complex, time-consuming exercise requiring coordinated input and action from multiple departments and individuals.
ADERANT Expert streamlines the intake of new business, helping law firms market their services, intelligently price new business, conduct comprehensive conflict searches, and automate the file opening process.
ADERANT Expert business development applications include: