NEW YORK, March 23, 2006 (PRIMEZONE) -- PricewaterhouseCoopers LLP's (PwC) Law Firm Survey Group (www.pwc.com/lfsurveys) and Redwood Analytics (www.redwoodanalytics.com) today announced a technology alliance. PwC, the pre-eminent provider of survey data for law firm management, adopted Redwood's legal technology platform to automate its two Law Firm Survey offerings. PwC will now have the premier automated law firm financial and billing rate surveys in the legal industry.
PwC selected Redwood, the first company to introduce an automated benchmarking program for the legal industry, because of its expertise in business intelligence and technical knowledge of the legal market. As a result of this alliance, PwC will increase its existing participation base, utilize a more efficient data collection process and provide more comprehensive performance indicators to its clients.
"Our goal was to make the survey response process easier, more efficient and more objective," said Laurie Lieb, Director of the Law Firm Survey Group.
"We recognized Redwood Analytics as a market leader, not just technologically, but also in sharing our commitment to customer service and excellence. We view our use of Redwood's technology as an important step in maintaining our leadership role in providing valuable and timely law firm performance statistics," commented David Zimmerman, Partner in charge of the PwC Law Firm Survey Group.
"This alliance continues Redwood's commitment to the legal industry to provide world-class performance management information through the use of best-of-breed technology," stated Norm Mullock, Chief Development Officer at Redwood. "Now, participants in both Redwood Benchmarking and in PwC's LFSS and BRASSplus surveys will benefit from leading, complementary performance metrics driven by the same technology platform to understand firm performance versus peers. Increased information ought not to require increased effort on the part of our customers," said Mr. Mullock.
About PricewaterhouseCoopers LLP
For more than 50 years, PwC's Law Firm Survey Group has provided law firms with comprehensive information on a broad range of management issues that confront law firm executives. The Law Firm Statistical Survey (LFSS) provides benchmarks on important operational issues such as administrative staffing and costs, and also identifies overall management trends on the profitability of the firm. The Billing Rate and Associate Salary Survey plus (BRASSplus), which includes nearly 75% of the firms listed on the AmLaw 100, provides hard-to-find benchmark data on timekeeper billing rates by office and by practice group.
PricewaterhouseCoopers' Law Firm Services (www.pwc.com/lfs) practice is an integrated team of audit, tax, and advisory professionals who focus on the unique needs of law firms. PwC's Law Firm Services professionals are committed to delivering cost-effective, practical solutions and responsive services with the quality clients expect from PricewaterhouseCoopers.
PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services for public and private clients. More than 120,000 people in 139 countries connect their thinking, experience and solutions to build public trust and enhance value for clients and their stakeholders.
"PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, a Delaware limited liability partnership or, as the context requires, other member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
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About Redwood Analytics
Redwood Analytics, the leading provider of applied business intelligence to the legal industry, helps law firms analyze, report upon, and distribute information to improve strategic-decision making by the partnership and administration. Redwood's software provides immediate returns upon deployment and is sophisticated enough to grow with our customers' needs. Redwood has developed best practices for financial management and our analytic tools provide a fresh understanding of the key drivers underlying their business performance. Redwood is widely acknowledged for the ability to design flexible solutions and meet and anticipate client needs in customer service, R & D, and knowledge transfer. For more information regarding Redwood's offerings, please visit www.redwoodanalytics.com or call 856.321.8989 x229.