Doing CRM - your choices in 2024, Part 1

After 2 decades of working in CRM in the legal sector, I’ve witnessed firsthand how this niche space has evolved. Over the past 20 years, we've seen a definitive increase in the number of vendors and options available, transforming a once-niche market into a more diverse and dynamic field.  In this article, I’ll share my insights on the current CRM options for law firms, helping you navigate today’s slightly more complex market and find the best solutions for your firm's needs.

I’m going to start by laying out that I believe law firms find themselves faced with three principal choices if they’re in the market and looking for a solution:

• Option 1 - opting for a comprehensive “Platform” solution
• Option 2 - selecting a “best-of-breed” solution
• Option 3 - for some vendors, choosing to forgo a dedicated CRM system altogether.

In this 3-part blog series, I will provide my own up-to-date view on each of these options, starting today with Option 1 - the “Platform Play”.

A CRM ‘Platform’ as I refer to it here is an all-in-one, ‘horizontal’ solution designed to manage a wide range of business functions. Obvious platforms like Salesforce, Hubspot and Microsoft Dynamics 365 spring to mind and offer extensive functionality – they can be configured and/or customised to some extent to suit the unique needs of each firm; as we have seen in the market with various vendors.

What are the 'Platform Play' Positives?

• Comprehensive Functionality: CRM platforms tend to provide a wider range of tools that go beyond client relationship management. For law firms looking to streamline multiple aspects of their operations, from Key Client management, Pursuit Planning through to Case and Matter Management, a CRM platform can offer a one-stop solution. This can lead to better integration of various business processes, resulting in improved efficiency and productivity – resources for the platform itself tend to be highly available but knowledge of the specific sector can often reduce options available.
• Scalability: As law firms grow, so do their needs. As their clients grow, demands for innovative solutions come thick and fast.  A CRM platform can be better suited to scaling with a firm, offering the flexibility to add new features, components, users, and integrations as needed. This is particularly important for large firms or those with aggressive growth plans, or indeed firms that are trying something a bit different in the business development space.
• Integration Capabilities: CRM platforms can also often offer robust integration capabilities, allowing them to connect with other essential business tools such as email systems, document management systems, and financial software. This level of integration can help ensure that all aspects of the firm’s operations are working together seamlessly and can often be provided easily via the platform’s 3rd party application store.
• Vendor Support and Community: Large CRM platforms are supported by well-established companies that provide extensive resources, training, and support on the core platform itself. Additionally, these platforms often have large user communities, which can be a valuable resource for troubleshooting and learning best practices.

However, it’s not all positive when it comes to platforms.  To keep things balanced, here are a few key pointers to watch out for with a platform play:

-> Vendor Product influence – relatively speaking, the law firm market is quite small compared to other markets and so firms should be aware that their influence over the ‘platform’ functionality will be limited.

-> Features that aren’t always required – platform software updates can often be irrelevant for law firms or vendors who are not solely focused on your market.

-> Over-engineering – the platforms have a great ability to adapt to multiple markets – as a result, they can be highly configurable.  A word of warning – don’t over-engineer a CRM system built to help lawyers.

In next week’s instalment, I’ll be providing my own thoughts on the best-of-breed approach.

There are now more options available in this space than there used to be!