For years I have been heaping praise on Thomson Reuters for producing one of the first marketing pieces that took a crack at quantifying the time savings delivered by one of their workflow products. The chart offers a simple comparison of several tasks and shows the time it takes to perform each task and with and without the use of the Practical Law Resources. See Illustration below.
It is probably five years since I saw that first chart and I recently began investigating whether Thomson Reuters has moved from producing a marketing piece to delivering a real tool that could actually help a customer determine or even estimate the time savings or efficiency delivered by Practical Law. I am picking on Thomson Reuters but the truth is that none of the large legal information publishers ( LexisNexis, Wolters Kluwer or Bloomberg Law) which have enhanced their research products with workflow solutions are offering any resource to measuring the ROI of their products. For
Continue Reading Your Workflow Product Costs Half a Million Dollars — Now How Do I Measure My ROI? Where is the Quickview and PowerInvoice for Practical Law and Lexis Practice Advisor?