Firm360: 'Intelligent' Business Intelligence for Law Firms From The Thomson Corporation
EAGAN, Minn., May 3, 2005 /PRNewswire via COMTEX/ -- Law firms now can get a 360-degree view of the internal and external forces affecting their practice, their clients, and related businesses and industries, as well as their competitors. Launched today by The Thomson Corporation (NYSE: TOC; Toronto), Firm360 ( http://www.firm360.com ) enables legal professionals to quickly track key client issues and trends, and to easily build customized reports and business development briefing books to inform business and practice decisions.
Firm360 is the first service of its kind to bring together the world's foremost legal, financial and business content, and combine it with powerful analysis and report-building tools. The service draws on trusted data from across The Thomson Corporation including Thomson Financial, Thomson Gale, NewsRoom from Dialog and Westlaw(R), and delivers it simply and elegantly to anyone -- from practice group business managers and librarians to marketers and partners -- involved in law firm business development efforts.
Firm360 gives legal professionals a digital dashboard that delivers market and financial performance data feeds, legal filings, court dockets, and mergers and acquisitions activity information. Firm360 also provides quick access to comprehensive, customizable report-building tools, litigation trend- monitoring services and analytics that benchmark legal activity and market share by business, industry and law firm. These innovative services ensure Firm360 users are among the first to know of developments impacting their clients.
Silvia Coulter, co-founder of the Legal Sales and Service Organization, confirms that law firms are building the internal infrastructures they require to operate in the most effective and efficient business manner possible. "This keen business focus underscores the increased need for market and business intelligence tools to support the growth within firms' industry and practice groups," Coulter said. "Firm360 is the first service to recognize the new demands of law firm client retention and growth and new business development.
"With this service, Thomson has organized information and client reports around real-life situations, enabling legal professionals to demonstrate their knowledge about their clients and their clients' industries," Coulter added. "This is a competitive advantage for any firm focused on initiating and building strong, positive relationships that will result in ultimately building strong client loyalty."
Thomson FindLaw President and CEO Debbie Monroe said that Firm360 is the latest innovation driven by the company's customer-centric approach to products and markets, which involves in-depth study of the business development processes and needs of law firms.
"Firm360 from Thomson provides law firms with actionable, strategic intelligence to drive growth in their businesses," Monroe said. "The keys are integration of content and technology, and matching customers' workflows and real-life business needs. Firm360 brings together must-have information only available from The Thomson Corporation, and provides it in the time, place and format legal professionals need to make more sound practice and business decisions."
In moments, Firm360 delivers information that would otherwise require many hours of staff time to collect, and provides comprehensive, professional reports that could otherwise take days to build. These powerful tools will enable legal professionals to identify opportunities to grow their market share, as well as to build strong, profitable relationships with current and prospective clients.
In the coming months, Firm360 will feature additional content to provide even deeper insights, as well as full integration with software and applications law firms use to manage their practices, to connect internal knowledge with publicly reported information for the first time.
About The Thomson Corporation
The Thomson Corporation ( http://www.thomson.com ), with 2004 revenues of $8.10 billion, is a global leader in providing integrated information solutions to business and professional customers. Thomson provides value- added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate e-learning and assessment, scientific research and healthcare. With operational headquarters in Stamford, Conn., Thomson has approximately 40,000 employees and provides services in approximately 130 countries. The Corporation's common shares are listed on the New York and Toronto stock exchanges (NYSE: TOC; Toronto).
SOURCE Thomson Corporation
Kyle Christensen of The Thomson Corporation, +1-651-687-7082, kyle.christensen@thomson.com
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