Accelerate your revenue by managing your Country Desks’ on Nexl!
Law firms that generate a high percentage of their revenue from cross-border work are heavily dependent on maintaining strong relationships with their stakeholders in the countries or regions that they don’t have a formal presence in but have significant commercial interest in.
One of the best strategies for doing so are Country Desks. In this blog we’re going to breakdown:
1 – What is a Country Desk?
2 – Where do law firms struggle with managing their Country Desks?
3 – How can Nexl help your law firm get more from their Country Desk Initiatives?
What is a Country Desk?
A Country Desk consists of a team of lawyers and staff that have affinity and interest into the jurisdiction of interest. Typically these lawyers work for leading companies that are headquartered in that jurisdiction or work closely with law firms from that country that can refer work to the local firm.
Firms with a concrete international strategy that recognizes the unique importance of specific jurisdictions often create so-called country desks. This allows them to focus on all key stakeholders and align internally around the opportunities and relationships from that jurisdiction.
By setting up a Country Desk, law firms create a concrete international strategy, and have a dedicated team and process in place to manage relationships with clients and referral sources from a particular country of interest. The law firm then strategically markets themselves, as local counsel to prospective clients. Essentially, Country Desks are a single point of contact for an out-of-jurisdiction law firm in a specific country, that increases the firms inbound referrals and revenue.
Through the use of a Country Desk the law
Where do law firms struggle with managing their Country Desks?
While a Country Desk can provide an incredible Responding Organisation, it can also be a tricky process to implement and manage. The problem starts with these teams who often lack an infrastructure or defined processes to manage their Country Desks. To run a country desk effectively, firms need a unified view and joined-up insights. They need to have real-time relationship data to coordinate and remain on top of the connections that matter most. Lagging indicators such as billing information will often provide only a partial and incomplete picture on the state of the relationship with stakeholders.
Country desks that lack that level of internal alignment and connectivity risk becoming just another siloed team within the law firm. They need to keep focusing on connecting all the dots, on building horizontal, cross-practice awareness and workflows. By doing this law firms will unlock more opportunities and mobilize all of the firm’s resources and relationships both strategically and efficiently.
How can Nexl help your law firm get more from their Country Desk Initiatives?
Nexl’s Projects module is the ideal tool to support and organise your Country Desk initiatives. When in Nexl Cloud Revenue Operation, under Productivity you will find the Projects module, which was designed to run Country Desk initiatives.
Here’s how law firms can organize their Country Initiatives:
Step 1: Name Your Project & Link it to MS Teams
Here you are able to name and describe your project and link your project to Microsoft Teams for seamless integration.
Step 2: Build your Country Desk Team
Next you are able to assign the project a team thereby creating ownership and collaboration for the management of your Country Desk.
Step 3: Set SMART Objectives & Actionable Tasks
An important function for any project is setting the SMART objectives necessary to keep your team on track and focused. Thereafter, each objective can be assigned actionable tasks which are given their own individual owner which ensures transparency and accountability.
Step 4: Track Referrals, Opportunities & Manage Relationships
Here the Country Desk leads will task itself with logging all inbound and outbound referrals to keep track of referrals and stay on top of opportunities. All relationships will be logged and kept up-to-date automatically to keep tabs on any and all engagement.
Step 5: Grow Your Revenues
On top of all these incredible functions, the law firm can work on the Country Desk directly from their inbox thus, growing their revenues from the comfort of their couch.
If you would like to know more about how Country Desks work and how Nexl can run them for you, click below to read our Project Use Case.