Law Firms Bulking Up Intelligence Analysis ArmsMay 13, 2014 – In The News
Catherine M. Monte, chief knowledge officer of Fox Rothschild, was quoted in The Legal Intelligencer article, "Law Firms Bulking Up Intelligence Analysis Arms." Full text can be found in the May 13, 2014, issue, but a synopsis is noted below.
Research has long driven the business decisions of law firms. But over the course of the past few years that function has morphed from printing out massive amounts of information into one that conducts targeted business analysis.
At Fox Rothschild, there are five researchers in the firm’s library services team and a five-member business and competitive intelligence team.
The return on investment is apparent at Fox, where in the last year clients of the firm have hired the team to compile industry reports.
"This is a value add [the lawyers] can pitch to clients," said Catherine M. Monte, chief knowledge officer of Fox.
Internally, the team works with business development on the firm’s “Make Fox Rain” initiative, looking for research opportunities to assist in generating business. The group also works with management on strategic initiatives and with practice group leadership to determine relationships with existing clients that could be expanded.