Reed Smith’s Deal Performance Platform is an internally developed suite of digital deal closing tools, web-enabled processes, and alternative staffing models that increase legal process efficiencies, reduce costs, and improve client communications. The Platform was developed through a collaborative effort between the firm’s Financial Industry Group, Knowledge Management Department, and Information Technology Department. It is part of Reed Smith’s digital strategy to transform legal operations and client services.
“This award recognizes the successful integration of our practice, knowledge, and technology teams to better serve the needs of our clients,” said Steven W. Agnoli, Reed Smith’s Chief Information Officer. “Reed Smith’s Deal Performance Platform is transformational in its use of innovative technology to reduce clients’ costs, and to optimize processes for both large and small matters.”
The Deal Performance Platform toolset automates deal closing document preparation, and incorporates dynamic decisional logic and the advanced legal intelligence of Reed Smith’s senior partners. It provides web access to deal information and due diligence, hyperlinks business term descriptions to aid understanding of deal requirements, and shares real-time closing status through tailored checklists and alerts. The Platform’s unique staffing model assures that legal work is automatically delegated to the appropriately qualified, but most cost-effective, Reed Smith lawyer. The Platform provides clients the ability to immediately check the status of loan closings, without the usual lengthy checklist calls, and to digitally review all legal and due diligence documents at any time for any deal.
The Digital Edge 50 award entries were judged by representatives from IDG Enterprise, the leading enterprise technology media company composed of CIO, Computerworld, CSO, InfoWorld, ITworld, and Network World. Global winners were selected based on highly significant projects, impressive business results, and superior collaboration among stakeholders.
Reed Smith will accept the Digital Edge 50 award during a cross-industry ceremony in March 2018.
