denotes premium content | Oct 12 2008 Managing Partner archive
Volume 9 Issue 4
IT IS with some sadness that I find myself writing my last foreword for Managing Partner. It is now nearly five years since I became editor and it has been a fantastic learning experience in which I have met many professionals in the legal profession who have helped and advised me through good and sometimes stressful times. I would like to take this opportunity to thank you all for your support of the magazine during the time that I have been editor and particularly those of you who have contributed such excellent articles and comments to the magazine over the years.
When I joined Ark Group, I suspected that those in the legal profession would know how to have a good time, but I have to say I never quite expected I’d enjoy so many wonderful lunches, dinners and drinks receptions with so many truly inspiring people who have genuinely made a difference to how law firms are managed today. In five years, I have probably lived up to a journalist’s reputation for imbibing too much alcohol (I just can’t resist a glass of fine wine). But in that time, I have also witnessed real and impressive change among law firms as they move from a traditional partnership culture to becoming modern and highly effective businesses, with a focus on client needs rather than purely internal technical expertise.
It is high time, however, that the magazine had the benefit of fresh ideas and editorial input. It is therefore my pleasure to introduce a new editor, Richard Brent, to the Managing Partner stable. He will be managing all content in the magazine from the October issue onwards, so feel free to drop him an e-mail at rbrent@ark-group.com should you wish to discuss any article ideas or future issues of the magazine.
In the meantime, however, I am not leaving Ark Group or Managing Partner altogether. I remain within the group as publisher, so will continue to oversee the magazine and will be supporting Richard as he settles into the new role. If there is anything at all that I can help you with, you will be able to reach me at my usual address, cpoynton@ark-group.com.
It seems fitting, however, that I should round off my editorship with a special focus looking at client-relationship management (CRM). I do not think there has been an issue that has caused such confusion or debate in legal management as the concept of CRM. First, the acronym seemed to be largely used in relation to CRM software. But firms and, perhaps more accurately consultants, quickly decided that CRM should encompass much more than technology. This has led to a general consensus the CRM is supported but not driven by technology. And this is where the confusion starts. What does CRM really stand for? Is it about internal knowledge-sharing and cross-selling activities? Is it about business-development and marketing initiatives, largely housed in the marketing department? Or is it about fee-earner training and development, perhaps headed up by HR? Perhaps it is a mixture of several disciplines, which need to be tailored to the needs of a particular firm – this would certainly be a potentially profitable definition for the consultants…
Or perhaps firms just need to get back to the basics. Continue to consider the acronym ‘CRM’ in the context of software because that’s where firms seem to have the most clarity. Beyond that, forget the terminology, and just remember the basics – that consistently meeting and exceeding client expectations is the key to a long-lasting and profitable business.
Caroline Poynton
Editor
Features
Opinion: Impressing in-house counsel
Law firms need to go the extra mile in delivering added-value services that really do add value for the in-house lawyer. By Gillian Switalski, director of legal services, F&C Asset Management
Opinion: Who made an acronym out of client-relationship management?
What is it with law firms? When viewed subjectively they can seem curiously complex organisations, but on any objective basis, they are simple businesses. So why do they find it necessary to complicate matters by jumping on every management bandwagon that comes along? By Simon Slater, managing director, First Counsel Consulting
Thought Leader
By Beverly Landais, director of marketing and business development, Baker & McKenzie
CRM Legal Survey 2006
Client-relationship management (CRM) continues to confound, on one hand seeming to promise to improve a firm’s client service, while on the other confusing many with its seemingly endless management remit. In an attempt to gain some clarity, Managing Partner conducted an in-depth survey asking firms about their CRM goals and objectives, and the challenges of CRM so far.
Special focus: A firm-wide approach to CRM
Veale Wasbrough recently implemented e1 Metis CRM to improve firm-wide efficiency. Solution provider e1 Business describes the implementation process and the resulting benefits for the firm.
Small but perfectly formed
High street law firms have faced a particularly tough market in recent years, but as the experience at Robinsons demonstrates, revising business objectives and implementing change may be key to success in difficult times. By Neil Barnes, managing partner, Robinsons Solicitors
Masterclass: Adopting a business-development attitude: a shared responsibility
The transition to move associates from accepting work to building their own practices is a particularly difficult management challenge. With a proper training and development framework, and the support of partners, however, firms can be confident of success. By Jon Childers, consultant, Hildebrandt International, and Julia Hayhoe, consultant, Hildebrandt International
The power of transformation
It is now four years since Paul Stothard became chief executive of UK firm Shoosmiths. Combining his experience with his observations of other firms, he considers the role of leadership in effecting significant and long-term change.
Efficiencies of future business development
Most firms now consider it essential to invest in marketing/business-development activities. But expenditure is pointless unless balanced against growth in a firm’s overall revenue and profit. The key, therefore, lies in business-development efficiency, rather than increased spend. By James Stapleton, chief marketing officer, Fenwick & West, LLP
