Flexible tool delivers return on investment beyond
expectation for top 100 UK-based law firm.
In the world of vendor evaluation, law firms often gauge success via a number of metrics – saving time, reducing costs, usability, and even facilitating critical outreach.
For UK-based Farrer & Co, Manzama has checked these boxes and more. After just 18 months, this prestigious 300-year old firm, known for its specialised support of private, high net-worth individuals, experienced a notable return on investment across multiple areas.
The firm, with 75 partners and more than 400 employees, first deployed the Manzama platform as part of the formalisation of an innovative, sector-based structure with the goal of improving current awareness around its core industries. Manzama partnered with the firm to understand its unique goals and used that information to form custom tracking for end users.
In the last year, benefits have moved beyond a simple understanding of recent developments across the media industry, for example, helping to give an already well-known law firm an extra leg up in the legal business.
“We’re really just at the beginning of the process, but it is interesting the number of things that come up and you think ‘Well Manzama could do that, too,’” said Katherine Wilde, Knowledge, Learning, and Development Director at Farrer & Co, “We keep uncovering more ways we can use it to supplement what we do.”
Here are a few examples of how Manzama has been utilised:
After implementing Manzama, Wilde realised the firm was subscribing separately to news publications that were duplicating stories already captured some other way within the Manzama platform. Farrer & Co leveraged Manzama to tap alternative news sources for the same pieces of information at no additional cost. The firm subsequently cancelled a high-priced sports subscription without losing valuable real-time insight into the industry.
The news cycle is as short and as fast as it has ever been. For Farrer & Co, this means having an almost constant eye on what’s happening across multiple sectors and with individual clients. The firm and its lawyers are able to match that pace, thanks to Manzama’s real-time ability to track and alert lawyers to breaking news related to key areas and people. The firm tracks multiple industries and practices, and uses Manzama’s proprietary publishing tool to produce critical internal updates. As a result, there has been valuable outreach to existing clients, potentially triggering new work, and to potential new clients.
It is no surprise that busy lawyers don’t always have time to network. The Manzama platform provided at least one Farrer lawyer an easy and quick way to develop new relationships and grow her influence. The UK-based partner picked up on several Manzama articles pertaining to higher education and used them as a way to facilitate introductions with the authors and grow her network in the sector.
Farrer & Co has begun using Manzama for more strategic, internal discussions around things like law firm innovation, management, and strategy. These are the types of buzz-worthy topics that so many lawyers track and can often lead to discussions about major change. By creating central feeds, the firm can ensure that its teams are digesting the same information, ensuring everyone is on the same page and referencing the same information during high-level discussions.
As a result of the methodical and purposeful roll-out – and the series of unanticipated use cases – Wilde reports that engagement among lawyers has been strong.
“Lawyers don’t treat it like another piece of email. They know its value.”
Katherine Wilde, Knowledge, Learning, and Development Director at Farrer & Co
With 75 partners and over 400 members of staff, Farrer & Co is synonymous with the highest quality legal advice and service. It advises individuals, families, businesses, financial services, educational and not-for-profit organisations on every aspect of the law, wherever the need arises. With offices in London, the firm works with trusted professionals around the world to deliver a seamless international service.
Farrer & Co was in the midst of formalising a major structural change and needed a way to keep pace with significant sector developments.
Manzama provided a way for Farrer & Co to monitor these key developments but also has delivered a number of surprising and unexpected benefits to the firm.
“I’ve been on the lookout for what else we can we do with Manzama – spotting new opportunities and learning what a flexible tool it is.”
Katherine Wilde, Knowledge, Learning, and Development Director, Farrer & Co