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RelSci offers new avenues for building out business

Software can help firms connect with potential clients

While legal software abounds with options for managing costs, retention schedules and the discovery process, support for building relationships and developing business is less common. Though social media platforms provide leverage that can lead to a meaningful introduction, more often those platforms do not provide information material enough to build a deeper relationship.

Now one application aims to fix that. Launching little over a year ago, RelSci has been built from the ground up to offer businesses a clearer path to building relationships, cultivating clients and getting in front of the right people. For the legal industry, this means potential connections to inside counsel decision makers.

Generally, building out those types of relationships requires cold-calling, attending networking events or getting lucky sharing an elevator. And while social media sites can offer some opportunities to connect, many top level executives are not active on those sites. RelSci probes hundreds of publicly available resources to identify and catalog executive level individuals, determining the boards they sit on, people they know and the positions they’ve held.  The result is a tactical roadmap for finding introductions to decisions makers.

“What we’re trying to accomplish with this tool by aggregating information from hundreds of publicly available sources and through partnerships with vendor relationships and partnerships with data providers, is to build this huge warehouse of data on individuals and companies that we then curate, structure profiles from it and make available to our users,” says Evan Bruno, an account executive with RelSci and an expert on its application in the legal space.

The breadth of the information harvested from public databases runs the gamut. Of the over 3 million candidates that have been profiled within RelSci, information has been gathered on their employment history, the boards they sit on (both corporate and nonprofit), government organizations they have affiliations, where they’re putting their money in terms of professional memberships and political donations and even their familial relationships. Those fragments of disparate information are then used to paint a rich tapestry for RelSci’s users. For firms this means the identification of potential introductions to decision makers.

Institutionally, law firms have a lot of connections, each partner has their own rolodex of people they know but for a larger law firm it’s harder for them to see that information holistically,” Bruno says. “What they‘ll do is go into RelSci and privately tell our databases who they know of those 3.5 million people, who their partners and associates know. So we can bring this relational mapping to their contacts and give them better intelligence to get to decision makers.”

Traditionally, law firms have held potential leads in CRM systems; RelSci hopes to bridge the gap between CRM and social media, by showing partners who they are connected to, and the best avenue to pursue business relationships with them.

RelSci has already received considerable attention, attracting over 350 organizations including AmLaw100 firms; it’s also raised $90 million from investors. For organizations and firms looking to make connections to the right people, it represents a new option for reaching them.

 

For more on legal technology check out these stories:

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Associate Editor

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Chris DiMarco

Chris DiMarco, Associate Editor of InsideCounsel magazine, has a background in multimedia production with previous involvement in projects in which he developed and created content...

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