Client loss rate falls to 10pc in law firms when five partners involved

Law firms are made more vulnerable to client losses by neglecting simple issues such as not finding out who replaces someone in the client team when people retire or leave.

15 July 2015

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The research was compiled by LexisNexis, which is launching a new product extension on the management of data. Tony Minick of LexisNexis said: 'This is about putting the relationships a law firm has to work.' The extension enables 'passive data management' through a module known as InterAction®IQ. A release from LexisNexis Legal & Professional says: 'The IQ module mines InterAction activities plus the law firm’s email and calendar systems for clues about engagement and provides an “IQ score” to measure strength.' Source: LexisNexis