Ranking Of 32 Follows Sixth CIO 100 Award Earlier This Year
Chicago – LAWFUEL – The Legal Newswire – Foley & Lardner LLP announced today that the firm is ranked 32 on the annual InformationWeek 500 list of the nation’s most innovative information technology (IT) organizations. The ranking is the second honor received by the firm in 2007 for its pioneering client-focused technology initiatives and follows its receipt of the CIO 100 award earlier this year.
Foley, which is the highest ranking law firm on the list, earned the InformationWeek 500 ranking because of its ability to develop innovative technologies such as its Private Equity Matchmaker (PEM) and applications that the firm developed to support its client service program.
“The firm has made significant investments in leading-edge technology, which has differentiated us from our competition,” said Doug Caddell, the firm’s chief information officer. “Our clients recognize that our technology tools add significant value to our legal service offerings.”
The PEM tool is a proprietary online software platform designed to enhance the ability of Foley attorneys to refer business opportunities to the firm’s clients. The tool is a first-of-its-kind technology in the legal industry. Through its automated search function and deal-matching capability, PEM brings together Foley clients from around the world who are seeking capital with those who are actively pursuing private equity investment opportunities, classified as “seekers” and “sources,” respectively.
As Foley attorneys populate PEM, the tool evaluates seekers and sources automatically, searching for matches based on key attributes including transaction size, development stage, geographic region and industry. When PEM identifies a match, the system generates an e-mail notifying the Foley attorneys of their clients’ potential compatibility.
The firm also created technologies to support its client service program, which is focused on developing IT tools and processes to increase the firm’s ability to bring more value to its clients. Central to the initiative is the identification and development of best practices for attorney and professional staff client service teams drawing upon experience in diverse industries and geographical areas.
The technology tools developed by Foley include FOLEY:ClientSuite, an extranet that allows clients to track and manage matters and act as a repository for case files and other information. The firm also created a budget management tool, a report card to assess if the firm is meeting client expectations and an online portal and resource center that is the entry point and information page for the firm to view all client service initiatives.
For the past 19 years, InformationWeek has identified and honored the nation’s most innovative users of information technology with its annual rankings. The list is unique among corporate rankings because it spotlights the power of innovation in information technology rather than simply identifying the biggest IT spenders.
To be ranked on this year’s list, candidates were asked to complete an application that examined key IT strategies. The application included a quantitative analysis of tech initiatives and priorities, and a qualitative assessment using essay responses. Participants were asked to complete two essays, one on overall technology innovation and the other on one of six technology categories. The responses to all parts of the survey were evaluated, weighted and combined into a total score, which is the basis for the ranking. The selection criteria are determined by the magazine’s editors.
The 2007 InformationWeek 500 organizations were revealed at a gala awards ceremony held during the InformationWeek 500 Conference at The Westin La Paloma Resort & Spa in Tucson, Arizona.
Foley & Lardner LLP provides the full range of corporate legal counsel. Our attorneys understand today’s most complex business issues, including corporate governance, securities enforcement, litigation, mergers and acquisitions, intellectual property counseling and litigation, outsourcing and information technology, labor and employment, and tax. The firm offers total solutions in the automotive, emerging technologies, energy, entertainment and media, financial services, food, golf and resort services, insurance, health care, life sciences, nanotechnology, and sports industries.