Collaboration with clients, partners and employees will unlock innovation and new growth

Building on our theme around the client of the future as summarised in my previous article, and also the workplace transformation article, throughout October we will be exploring collaboration by examining the pros and cons of internal and external collaboration models, how collaboration impacts and benefits the organisation and how it should be considered from a competitive and thus strategic standpoint due to its ability to bring together resources and exponentially increase capabilities.

By collaborating more effectively with clients there seems little question that better outcomes result, but how do firms effectively embrace this new, more open, and more uncertain approach in what can sometimes be risk-averse firm cultures.

In order to provoke some thought I wanted to share some perspectives I have heard previously at some of the Alternative events and which I have previously written about across a number of articles. Perhaps the biggest challenge to my mind is that the majority of firms, when asked about their innovation goals, say that it is around delivering better client outputs, and yet at the same time most acknowledge that the majority of their innovation activity is around internal efficiency. As I wrote about in my earlier article for Alternative Insights, this disconnect in goals and actions risks leading to an “authenticity” challenge for firms.

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Simon Drane

Simon Drane

earlsferry advisory
Simon has held numerous positions within the professional services sector over the last 25 years, at a FTSE 100 legal information solution provider, a legal technology consultancy, a law firm, an accounting firm, and a legal membership organisation. Simon has qualifications in law and tax, and deep experience in commercial product strategy. Simon has board level experience of both executive and non-executive roles, and as CEO of a technology startup. He has a strong track record in creating innovative product strategies resulting in multiple new multimillion pound high growth lines of business. Simon led the new investments product strategy area at LexisNexis and created and launched many of the next generation content and workflow product offerings for lawyers. At the Law Society Simon ran the commercial arm of the organisation and restructured a set of commercial investments through taking board seats. He also implemented a new commercial strategy including a significant shift in focus to legal technology innovation including the launch of a legal tech focused Barclays EagleLab accelerator. Simon has also held senior knowledge management roles in both law and accounting firms. Simon established earlsferry advisory towards the end of 2018 to help people with their product strategies, whether they are technology businesses, professional services businesses or investors into these spaces.