Page 286 - DCOM201_ACCOUNTING_FOR_COMPANIES_I

Unit 11: Profit and Loss Prior to Incorporation

Reasons: The firm was over-committed to service of a particular market segment, which Notes
had strict demands of legal service providers (and historically mandated very low rates).

 Firm revenues and profitability were below the norm.
 Firm was at high risk if the market segment they serviced changed dramatically due
to over-specialisation.

 Required Capabilities:
 Globally consistent processes for New Business Intake and Client/Matter Change
Management

 Fast inclusion of new offices/users into the firm’s standard processes without overhead
of rollout/training
 Positive adoption of new processes by users to minimize resistance to change

 Targeted, high-value automation, to ensure that existing operational infrastructure
(personnel) could handle the substantially increased load without the need for hiring
new personnel.

Elegrity (the firm) delivered the following:
 Business process re-engineering and optimization consulting, focused on helping
the firm determine how to leverage the new capabilities automation affords to meet
their objectives.
 Law Business Management System (LBMS) – The only comprehensive cradle-to-grave
client/matter management business process automation platform specifically built
to accommodate all the sophisticated business process needs of the legal industry.
LBMS provides all of the technology capabilities required to meet the following functional
capability requirements:
 Automation to enable the same number of people and their teams to do significantly
more!
 Risk mitigation through the enforcement of consistent, codified firm business
processes and business rules.

 Visibility for all levels of users, secured appropriately.
 Flexibility for the organization as a whole through the ability to quickly add offices/
users, and make immediate adjustments to firm business process and business rules
as strategies or needs changed.
 System Integrity for automation of system interfaces and aggregation and
distribution of information to/from the appropriate system of record.
 Agility through the leveraging of active decision support in combination with
business process execution, decision-makers at all levels of the organization were
provided the ability to make better, more informed decisions faster.
 Reporting and Business Intelligence to provide information to various levels of the
organization, as needed.
 Process Development, User Interface Development & Customization and Business
Systems Integration Services to leverage the technology provided by LBMS to meet
the specific requirements of the firm’s unique business processes.
Contd...

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