Central Intelligence: Foundation Software sees sharp Am Law 100 growth trajectory
Data integration platform Foundation Software Group says that one third of the Am Law 100 have now selected Foundation as their strategic solution for experience management, expertise location, and client development. This is an increase of 8% since September 2019, when we revealed that Hogan Lovells had selected Foundation, and a sharp increase in its growth trajectory.
In November 2017 Foundation was working with 12 of the largest US law firms.
The next metric we have on record is at the start of 2019, when Foundation Software told us it was working with around 21 of the top 100 US law firms. The clients we listed at the time were Akin Gump, Baker Botts, Blank Rome, Duane Morris, Hunton Andrews Kurth, McGuire Woods, Orrick, Pillsbury, Seyfarth, Sidley Austin, Skadden, and Troutman Sanders.
If you plot these figures on a highly sophisticated scrap of paper, as we have done, or even if you don’t, the growth looks impressive. And no, it wasn’t a beer mat.
The firms listed in Foundation’s latest client win/market update include Arnold & Porter, Baker Donelson, Davis Wright Tremaine, Hogan Lovells, and Winston & Strawn.
Foundation collects information from systems like time and billing, new matter intake, CRM, HR, and external sources and provides enrichment tools like AI-enhanced matter profiling and triggered surveys, to provide a comprehensive view of a firm’s intelligence. Analytics provide key insights into clients, matters, lawyers, and third parties, informing business and client development strategies and driving results.
“Efficient access to a holistic view of firm data is crucial for thriving in today’s evolving legal environment, whether it’s used to rapidly find answers to lawyers’ questions, provide clients with broader information regarding their matters, or improve the effectiveness of our legal and administrative teams,” said David Rueff, chief client solutions group officer at Baker Donelson. “The centralized intelligence platform that Foundation provides will enable us to gain efficiencies of scale across practices and departments, providing a single knowledge repository and configurable application that spans client and matter lifecycles. Foundation’s agile approach will empower our teams to better profile our clients and matters, predict outcomes, and improve our services for clients.”
“We continue to see firms that have been chasing an elusive, 360° view of their clients and matters to give them a competitive advantage,” added Barry Solomon, executive vice president of Foundation Software Group. “But you can’t get there when your data is siloed across systems. A single data platform is required to manage firm intelligence in order to get the actionable insights required for everything from driving business development to making enterprise search more effective. Firms have finally found that capability in Foundation, and that’s what’s driving our growth.”