3VB puts data analysis at the centre of its business
Published 6/26/2018 by Doug Hargrove, Managing Director, Legal Sector, Advanced
20th June 2018 – Information is king in the legal world and, just like any professional services company, barristers’ chambers must put data analysis at the heart of their business. These are the words of Robin Jackson, Chambers Director at 3VB, the international commercial set of chambers based in London, which has signed a major deal with Advanced to migrate to a modern chambers management system fit for the digital era.
3VB will implement Advanced’s MLC solution for all of its clerks and administration staff as well as the solution’s integrated mobile and cloud toolkit for barristers, which has been a key catalyst in driving the migration. MLC V gives barristers remote access to key case and client information, and allows them to record their time more efficiently. It also gives assigned staff working in the chambers real-time access to relevant diary and customer information.
Robin commented: “Most barristers’ chambers have not concentrated greatly in the past on analysing the ‘business’ as a whole in the same manner or detail that has always been done in successful professional services companies. The reasons for this are obvious (because of the nature of chambers), but there is now growing recognition of the benefits that can be realised.
“Being able to properly collate our chambers’ work, and easily report on and analyse the data, enables us to better understand what actually makes chambers operate successfully and how that knowledge can be used to good effect for the future. Rather than operating simply as a collection of individual barristers, we can use a data-centric system that can add value to their independent practices, better develop the brand of 3VB and make the operation of our business more effective. And that’s exactly why we have partnered with Advanced.
“MLC and the mobile toolkit will give us the tools needed to provide our management board and individual members with better, accurate and timely performance and business development information based on nuanced analysis.”
The benefits of such analysis include:
- Identification of potential growth areas (and the opposite)
- More accurate focusing of collective and individual marketing efforts and resources, and greater potential to identify benefits accruing from them
- More nuanced client handling and other aspects of CRM
- Better focused practice development for individual barristers
- More precise targeting of recruitment, especially of lateral hires
- Better focused debt management
- Greater efficiency of management and other staff time.
Crucially, Advanced’s solution will also help 3VB operate in an often predictable but essentially uncertain business landscape, which includes the General Data Protection Regulation (GDPR) and Brexit. Its case collaboration solution for all barristers and staff will aid them in meeting their regulatory and compliance obligations as well as improving customer service with document sharing being made available to the chambers’ clients.
Robin added: “It is often possible to anticipate how ways of working will adapt and therefore plan accordingly, but there is still uncertainty over the possible effects of some new unseen innovation, some change in law, Brexit, or even a change in direction or expansion. Either way, uncertainty calls for an increasing dependence on flexible management software – not just for our chambers but for any organisation that wants to act with pace.”
Doug Hargrove, Managing Director – Legal – Advanced, commented: “The legal sector doesn’t tend to embrace modern technology and innovation rapidly, so it’s always encouraging to see an organisation pro-actively target key issues that are affecting a majority of the market. 3VB has a clear desire for a more digitised and less paper-based future. It wants data at the heart of chambers and recognises the benefits this offers in driving business performance and in providing a more effective service to clients.”