Building a brainier business

An insight into the role of research and analysis at Osborne Clarke.

By Eleanor Windsor

Although research and analysis is undertaken by lawyers on a daily basis, its more formalised role on the support side of a law firm is still a relatively new development. This case study looks at the way law firm Osborne Clarke has developed a business research and analysis function, which offers a broad range of value-added services.
The research and analysis function at Osborne Clarke was formed in 2004 after a programme of work to review and improve the quality and nature of management information provided to the firm. The programme initially focused on the provision of core reports and financial data, but soon extended to look at other types of information including business research. It quickly became apparent that there were clear benefits to be gained by linking together internal information with market information to provide real insight for business decision making. It was also clear that the finite project to improve management information would not be sufficient and soon a more formal set of services were identified which were grouped together under the heading of ‘business intelligence’ (BI).
Very much led by senior management, the BI team adopted a much wider definition of BI than might be familiar to many readers. Rather than focusing on a technology solution which particularly addresses internal reporting, the BI team at Osborne Clarke was given responsibility for a wide variety of management reporting, research and analysis.
The BI team now leads work across four main areas: business research, business planning, management information and some aspects of client relationship management (CRM), particularly those parts specifically associated with our CRM database.

An increasing trend
In law firms generally there has been a growing trend towards the use of business research and analysis, and the establishment of the BI team in Osborne Clarke, although somewhat ahead of its time, very much reflects that trend.
All law firms, and organisations in general, are having to deal with an ever increasing amount of information. The use of the internet and e-mail, means that people are constantly receiving information which, if not managed well, can become problematic. The information received may be strategically or operationally important, however the issue is identifying what is significant. Such a plethora of information has encouraged people to demand that it is somehow reviewed and, where relevant, summarised and key points extracted. These services are demanded by a variety of people across the law firm to support activities such as tendering, targeting and CRM.
At the same time, firms are also recognising that a greater understanding of the market, economy and key client businesses is critical, simply to be able to keep pace with your main competitors. Failing to keep abreast of important developments in a sector, for example, may mean the difference between winning and losing a major deal.
Although many firms may see that such a function sits most comfortably within a business development department, it was evident in Osborne Clarke that the team was adopting a more pivotal role. This lent itself much more readily to a central position within the structure. It was therefore agreed that the team would be one of the core business services groups reporting directly to the chief operating officer. The team would support not only the business development efforts across the firm, but also directly contribute to the strategic development of the firm by supporting activities undertaken by central management. In this position the team has been able to adopt a joined-up approach, working with a number of areas across the firm including knowledge, library, finance, IT and of course business development.
In developing the BI team it has also been necessary to review the skills and competencies required to deliver the wide variety of business research and analysis demanded. In IT speak, business intelligence teams are often referred to as BICCs – business intelligence competency centres – and this translates well into the wider definition of BI adopted within Osborne Clarke. In this case, however, rather than looking at the array of IT skills required within the team, the key focus has been on the variety of research and analysis skills required. Beginning with a very small team experienced primarily in management information, marketing, CRM and project management, the Osborne Clarke team has now developed to incorporate the skills of market research, information management, financial reporting, database management and business planning.

The rise of the business intelligence manager
Of course, managing a team which delivers this type of diverse service brings its own challenges. The business intelligence manager or business analysis manager must have a wide variety of skills, particularly to ensure that work is correctly prioritised to focus on those areas which are strategically significant. For example, many BI managers will need to be able to balance the delivery of management information, which will primarily report historical performance, against the information required for business development or business planning which will help to identify the potential investment areas for the future.
It is also important to expend some effort on developing mechanisms, processes and approaches to business research and analysis which will facilitate self-service in this area or will enable improved sharing of less tacit information around the firm. As a result, the BI manager will often find themselves involved in projects such as intranet development, or CRM initiatives. Such work is central to the on-going development of the function and helps to introduce ever more efficient approaches to business research and analysis.

What is the business benefit of research and analysis?
Investment in a research and analysis function will only be supported, however, if a genuine business benefit can be proven. From experience, one of the primary benefits of implementing a dedicated BI or research and analysis function is that it allows the firm to ensure that people’s efforts are correctly focused. Rather than lawyers spending their time linking together information gathered from the press with internal trends and client information, the BI team takes on this work. Guided by a detailed knowledge of the firm’s strategic priorities, it is possible for the team to respond quickly to demands for research and analysis at critical times.
Supporting core internal processes such as campaign and event development, tender and pitch production and client relationship management, allows the team to demonstrate its added value to the firm immediately. Such processes have at their heart a need for relevant and analysed business information. For example, a dedicated research function can help to ensure that events are correctly focused, campaigns are original and tenders and pitches demonstrate the firm’s intimate knowledge of a sector or market and the client.
Matching up internal and external information is one of the most successful ways that business benefits have been proven in Osborne Clarke. Using this information to be able to identify some immediate quick wins is inevitably going to provide the most tangible proof of value. Focusing, for example, on identifying new opportunities for cross-selling in an existing client relationship may be one of the best ways to achieve this.

Prioritising and managing your research focus
The demand for services from the BI or research team can of course grow exponentially once the value of the service is understood. As such, practical aspects of prioritisation become extremely important. Within the Osborne Clarke BI team the issue of prioritisation is handled by ensuring that any brief is fully clarified and checking that there is a clear link with strategy. More often than not this is confirmed by there being a direct link with a relevant business plan.
Work is also prioritised by reviewing the most appropriate way to handle any requests. Some, for example, are best addressed through the provision of at-desk resources or relatively raw information which can be reviewed within the legal team. Other requests are more strategically important or complex and require significant input from a member of the BI team. Of course, like any organisation, there will always be times when the support of a third party outsourced research provider may be required. This may be either to provide a specialist element of a project (such as primary research skills – for example interviewing or surveys) or to handle some of the specific work at busy times (such as desk-based research and reporting).

Gaining competitive advantage
This type of function is unlikely to be introduced within an organisation unless it will help the firm to gain competitive advantage. Although the specific approach adopted will vary from firm to firm, there are a number of issues which must be addressed in order to make such a function both desirable and successful. One of the first issues to consider is the need to build a business analysis agenda and secure management and partner buy-in. Demonstrating added value and providing support for strategic decision making is often difficult to prove, however effort should be made to track the positive impact of business research and analysis and, if possible, align recognition and reward structures to this type of success.
Developing the relevant core skills within the team helps to ensure that business research and analysis is carried out as effectively as possible, whilst also enabling team members to develop a variety of valuable skills which enhance personal development.

An intelligent view of the future
In many firms the type of business research and analysis described here may be something that is offered by a number of different functions. However, this approach is most effective when all of the services are centralised, particularly where the focus is on combining internal and external information. Going forward we are addressing two major challenges at Osborne Clarke: firstly, identifying methods which can be used to share this information more effectively, in order to derive as much value as possible; and secondly, deciding how we can continue to cope with the growing demand for research and analysis as the business becomes more intelligent about how it uses the business intelligence team!

Eleanor Windsor is head of business intelligence at Osborne Clarke. She can be contacted at Eleanor.windsor@osborneclarke.com.