LexisNexis today (26 October) announces a new collaboration between InterAction and Foundation Software Group, bringing together CRM and experience in a completely integrated way. This is a major milestone for Foundation Software, which was founded by the ex-CEO and founder of Interface Software, Nate Fineberg. LexisNexis acquired Interface in 2004 and it’s at the core of InterAction.
Behind the move is an intent by LexisNexis to double down on its network of best of breed systems. It is a concession by LexisNexis that the experience capability within InterAction is no competition for Foundation Software, which also recently signed a partnership agreement with iManage.
Experience management helps users to find out who has worked on what in order to win more business and. Speaking to Legal IT Insider, director of product management Scott Winter said: “InterAction is best of breed for CRM and in experience we want to work with Foundation, which is best of breed.
“What we want to do is help marry that experience data with the CRM, so what matters are taking place today, if you’re going after a new opportunity.”
He adds: “Say I want to show this isn’t a new practice area or industry, but I want to go to past that. So when it comes to IP work, I can show that we have 1,700 instances where we have executed x, y, and z. Plus you know me, we had a great relationship, and we already have a foot in the door.” Users will be able to switch between Foundation and InterAction seamlessly.
Winter said: “A lot of providers are trying to do everything but for customers, whenever you go all in on one bet, what if you want to make a change? Are you locked in? Wherever we can we want to give the choice to the client. Whether that’s what data goes in, where it’s stored, what data you’re trying to capture, or what other vendors you’re trying to use.”
In a statement Scott Wallingford, general manager and vice president of LexisNexis Legal Business Solutions said: “Law firm marketing and business development departments need a holistic view of client relationships to support their wide range of work from strategic planning to pipeline management. This natural integration of InterAction and Foundation provides insight into work that has been done, lawyers who did it, and all the parties involved – giving firms a competitive advantage.”
“Both Foundation and InterAction are focused on empowering firms to successfully execute their business development strategy,” said Barry Solomon, executive vice president of Foundation Software Group. “This holistic best of breed solution enables firms to efficiently connect the dots across the client lifecycle from marketing initiatives to work being done by the lawyers, improving both the business and practice of law.”