LexisNexis Announces Development of Next-Generation Practice and Financial Management Solution for the Legal Industry
New solutions will combine Microsoft Dynamics AX technology with unrivalled legal insight and expertise to address law firm compliance and reporting needs
LONDON, 3rd November 2010- LexisNexis International (www.lexisnexis.co.uk/enterprisesolutions), a leading provider of content-enabled workflow solutions, today announced it has signed an agreement with Microsoft to develop a legal-specific practice and financial management solutions platform, using Microsoft Dynamics AX, to meet the precise accounting needs of modern law firms. The LexisNexis practice and financial management solution will address the needs of mid-tier and international firms alike. Already in development, the solutions are scheduled to be in beta testing throughout 2011, with general availability planned for 2012 in the United Kingdom and across Europe.
The LexisNexis practice and financial management solution will offer increased flexibility and seamless interoperability with firm-wide applications, such as Microsoft Windows and Windows Server, SQL Server, Microsoft Office, and Microsoft SharePoint Server, leveraging extensive LexisNexis legal expertise to provide industry-specific functionality. The robust and scalable platform has the flexibility to adapt as business demands change, future-proofing the investment and smoothing the way for an individual firm's future growth.
"We are pleased to be working with LexisNexis to deliver enterprise solutions to meet the needs of customers in the legal industry. The new LexisNexis offering, built on Microsoft Dynamics AX, will deliver firms a single financial and business management platform that can evolve with their individual business requirements," said Doug Kennedy, vice president, Microsoft Dynamics Partners. He added, "By bringing together the in-depth legal knowledge and solutions of LexisNexis and Microsoft's technology expertise and products, we are confident that this offering will challenge the status quo prevalent in the UK practice management market."
Law firms are becoming increasingly complex operations, with global matters and ever-growing compliance regulations to adhere to. Developed with these factors in mind, the LexisNexis practice management solution will offer full finance functionality, including accounting, time and billing, disbursement management and integrated reporting, enabling law firms to manage, standardise and streamline financial processes.
Tim Cheadle said: "Our mission is simple: to provide the best financial practice management/ enterprise resource planning solutions to law firms around the world. The collaboration of the latest ERP technology from Microsoft and the deep industry knowledge of LexisNexis will assist law firms in their efforts to reduce costs, drive efficiency and transform their financial management. We are delighted to be working closely with Microsoft to deliver solutions that help our customers boost efficiency and further their business objectives."
For national firms and existing LexisNexis dna and Axxia customers, the dna platform will be powered by Dynamics AX, providing extensive accounting functionality and ensuring that firms have the technology in place to comply with industry regulations, and meet their longer term growth and development needs.
For firms with global offices, or those with expansion plans, the new LexisNexis practice management solution will offer multi-currency and multi-jurisdiction functionality to ease global deployment and help facilitate business development across multiple geographies. Rolling out a single system globally reduces implementation costs, enables best practice to be implemented throughout the firm, and because users are already familiar with Microsoft applications, internal IT costs such as training, maintenance and support are minimised.
Josh Bottomley, Managing Director, LexisNexis UK, commented: "The new LexisNexis practice management solution will be a key component of our broader offerings for legal and other professional services firms. We will continue to integrate and deliver content through our technology and content offerings to enable firms to streamline their internal processes whilst improving client service."
LexisNexis® is a leading global provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting, and academic markets. LexisNexis originally pioneered online information with its Lexis® and Nexis® services. A member of Reed Elsevier [NYSE: ENL; NYSE: RUK], LexisNexis serves customers in more than 100 countries with 15,000 employees worldwide.
In the UK, LexisNexis is a leading provider of information and business solutions to the legal, accountancy, corporate, risk and public sectors. As a leading provider of software platforms, LexisNexis Enterprise Solutions works with customers to drive productive, efficient and reliable business decisions. Its solutions include LexisNexis® Visualfiles®, a case and matter management software; LexisNexis®Axxia® dna, a fully-integrated practice management software; LexisNexis® Streamline, a best-of-breed, single platform for legal and business process workflow management; LexisNexis® Redwood Analytics®, a business intelligence and budgeting software and services; and LexisNexis® InterAction®, a customer relationship management tool.
LexisNexis Enterprise Solutions
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