CW-Nelson-Mullins-RFP-Response

APPENDIX B LAW FIRM TEST CASES

AM LAW 100 FIRM TEST CASE #5 FIRM #5 PAIN POINTS: This firm had been using another advisory firm for over fifteen (15) years. Throughout those years, the firm did not develop or follow a portfolio strategy, so each office location was treated as a “one-off” transaction and in many cases renewal options were simply exercised resulting in an aged portfolio with high vacancies and high out-of-pocket capital exposure to this firm. In addition, the firm’s primary industry was insurance litigation, which over the years had been commoditized with extreme fee compression. The firm desired to develop a portfolio-wide strategy and use technology and training to better streamline client servicing, significantly reduce paper usage, and implement firm-wide paper retention strategies. C&W’S SOLUTION: Over the course of the last ten (10) years, C&W worked closely with the firm to first analyze where they had strengths and weaknesses in the portfolio. Since the firm did not have high profit margins, one of the first goals was to review how new real estate solutions and increased use of technology could help them better serve their clients and increase profits. The firm’s CIO, now their COO, had been with this firm for 25+ years and was integral in the team development of new technology solutions for document and paper retention. With many attorneys being insurance litigators, the paper they were storing had built up over the years resulting in above market onsite and offsite paper storage that was occupying valuable real estate, and costing significant dollars to warehouse. Over the course of two (2) years, and through the first transaction in the portfolio, which happened to be this firm’s headquarters location, a paper reduction and document protocol was developed and implemented two (2) years in advance of the relocation. Through an investment in scanning technology and training of staff and attorneys, fifty percent (50%) of the paper the firm had was scanned and then destroyed prior to the move. Once this firm relocated, each floor of the new premises (five in total) had document scanning stations

set-up so that once a transaction/service was reviewed in hard copy, it was then scanned and the paper destroyed. Over the course of the following four (4) years, multiple additional locations in the portfolio implemented the same protocol streamlining client services, reducing real estate spend on hard copy paper storage, and improving profits and the firm’s position to compete on large litigation matters. The firm currently has twenty-one (21) locations in the U.S. with over five hundred (500) attorneys and is growing.

50% Paper Reduction

500

Attorneys

21 U.S. Offices

Legal Sector Advisory Group | ADVISING FOR EXCELLENCE 61

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