Think big with your customers

What has been the industry challenge?

Law firms are under enormous pressure to find new ways to show the value of their work to their clients. They are facing competitive challenges to retain their clients as more work is being brought in-house for corporate clients, and new players, such as alternative legal service providers, are a growing force. Law firms need to be innovative in how they secure profitability to stay competitive in the legal market.

What did we hear?

Thomson Reuters has spent years listening to how law firms are tackling these changes while remaining profitable. What we consistently hear is the challenge law firms have to deliver on profitability, maintain their expertise, and provide the most efficient service to their clients.

We saw the need for law firms to connect those who were planning the work from a firm-profitability perspective and the lawyers doing the work. If we could find a common language between the front and back of the house, then our customers could plan more profitably, manage more confidently, and execute more successfully to compete in a changing legal market.

We saw we were uniquely positioned to help our clients solve these problems, so we set out to create a new vision for the way lawyers and law firms work.

What did we do with the information?

We listened, and we acted.

We worked alongside our clients to build a robust customer partnership program to support the ideation and development of Thomson Reuters Panoramic. What followed was a product that showcases the power of partnering with customers to truly understand pain points and iterating with them to meet their needs.

The team has thousands of hours of customer research with colleagues in roles across the law firm. They helped us identify and validate the needs for the future, providing valuable feedback on features, user experience, content, and design. It became a key differentiator for everyone involved.

How are we solving the challenge?

The intuitive, easy-to-use platform of Panoramic allows legal professionals the ability to execute their best work faster with confidence.

By connecting the business and practice of law, we provide capabilities for price predictability for those who are making decisions from a firm-profitability perspective. Pricing directors and associates can compare pricing to previous legal matters handled by the firm while tracking and acquiring new analytics in real time.