The Fold Legal named as finalist in 2015 Legal Innovation Index

Claire Wivell Plater

Claire Wivell Plater

The Fold Legal (The Fold) has been named on the shortlist for the 2015 Legal Innovation Index announced by LexisNexis® Pacific and Janders Dean, with the final Index set to be revealed on August 20.

The index recognises the most innovative firms and legal teams in Australia and New Zealand, through initiatives that deliver uniqueness and value to their clients and differentiate their organisation.

The Fold, a boutique financial services specialist, was recognised for two innovations. Firstly, the firm completely re-engineered its standard licensing process to suit the new Limited Australian Financial Services Licence option for accountants, reducing the time taken to prepare an application by over 60% and reducing the cost by 63%, while simultaneously generating revenue from a new target market. This was supported by the development of a cost-effective DIY licensing kit for accountants who want to prepare their own licence application. Secondly, The Fold developed a reporting tool to assess how the firm’s published content impacts on revenue streams and improve the correlation of these.

The Fold’s managing director, Claire Wivell Plater says, “Innovation has underpinned our firm’s approach for over a decade and continues to be crucial in growing our business, maintaining profits and pleasing our clients. We’re delighted to be shortlisted for the Legal Innovation Index this year. It reflects our commitment to making our service to clients even more responsive, especially as technology and the landscape within the financial services industry continues to change.”

“Innovation has certainly grown from a ‘buzz word’ to a direction in which we are looking to take the business of law in Australia”, explains Jo Beckett, General Manager of LexisNexis Australia. “As a result the 2015 Legal Innovation Index has had more than double the entries of last year, with both companies and individuals presenting a fantastic array of new and re-imagined business practices, tools and ways of thinking to the local legal sector”.

“Just when you could be forgiven for thinking that innovation in the legal profession in Australia has peaked, finalists in the 2015 Index clearly demonstrate the profession’s absolute commitment to continuing to find new and dynamic ways for adding significant and previously untapped value for firms and their clients,” adds Justin North, Director, Janders Dean.

The 2015 Legal Innovation Index winners will be announced at a Sydney event on 20 August 2015.

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