Reed Smith LLP Adopts a New Technology Approach with Upgrade to Elite 3E
Leading Global Law Firm Transitions from Enterprise to 3E for a Single High-performance Business Process Platform
LOS ANGELES, Mar. 13, 2012 – Reed Smith LLP, a global relationship law firm that resolves disputes, delivers regulatory counsel, and executes a full range of strategic transactions for clients throughout the world, has decided to transition to ELITE 3E® for its next-generation business process platform. The firm has invested in 3E along with Thomson Reuters Engage™, the industry’s first engagement planning and management (EPM) solution, as part of a long-term strategy to help optimize firm performance.
3E met the firm’s requirements for a robust, secure, and single database system with good automated control systems. The built-in workflow is expected to improve processes such as pricing, pro forma processing, distributed billing, and new business intake. Additionally, 3E will significantly enhance the firm’s tracking and reporting on alternative fee arrangements (AFAs), which is increasingly becoming a critical factor with client engagements.
According to the firm’s CFO David Duckhouse, “When evaluating our long-term technology strategy, we determined we needed a system that was secure yet flexible, had a high level of analytical capability and could communicate more effectively with our lawyers and clients via dashboards and other means. And naturally, a return on our investment was important.”
“In short, we wanted a tank that could outrun a Ferrari,” he continued. “We know we won't be able to build it overnight, but we are looking forward to working with Elite to make 3E a significant contributor to our future and to our client relationships for many years to come.”
Reed Smith counsels 13 of the world's 15 largest commercial and savings banks; eight of the world's 15 largest oil and gas companies; and the world's three largest pharmaceutical distribution and wholesale companies, among other clients. The firm employs nearly 1,700 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East.
“We’ve enjoyed a long and successful relationship with Reed Smith and are excited to help realize their vision of a building a more powerful business process platform with 3E,” said Kim Massana, president of Elite. “Being engaged at this level will ensure a smooth and enlightening conversion process.”
Elite 3E offers powerful core financial and practice management features and built-in application development capabilities – all seamlessly integrated into one high-performance system. Designed from the ground up on Microsoft.NET, 3E provides an integrated development environment that enables firms to become more agile in responding to client needs. A full suite of capabilities is delivered through a consistent web-based user experience that allows staff to easily track and manage activity on a multi-office, global scale.
About Reed Smith
Reed Smith is a global relationship law firm with nearly 1,700 lawyers in 23 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises. Reed Smith is a preeminent advisor to industries including financial services, life sciences, health care, advertising, technology and media, shipping, energy and natural resources, real estate, manufacturing, and education. For more information, visit reedsmith.com.
About Thomson Reuters Elite
Thomson Reuters Elite offers an end-to-end enterprise business management solution that allows law firms and professional services organizations to run all operational aspects of their firms including business development, risk management, client and matter management, and financial management. For over 60 years, we’ve demonstrated we understand the business and financial aspects of firm operations, with proven tools that streamline processes to increase visibility and workflow efficiency across the organization and provide the flexibility to change and grow your business. For more information, visit Elite.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 60,000 people and operates in over 100 countries. For more information, go to Thomson Reuters.