A law firm’s billing system is its lifeblood. Mess with a firm’s practice management system (PMS) and you mess with the fee-earners’ ability to bill effectively and the firm’s ability to collect revenues. So at times when there is a major sea change underway at one of the major PMS suppliers, law firms sit up and listen.
Now is one of those times. Solution 6, one of the two PMS vendors that dominate the top end of the legal market, is to be split down the middle. The company, which owns the well known CMS and Keystone brands, is the willing subject of what one paper describes as “a friendly takeover” and another is calling “a highly complex share swap”. But if this is a marriage of corporate interests it is also a threesome – there are two suitors involved and each will claim its own portion of the bride, so to speak.
