Banking on security

WEB DEALS: Ashursts designs client-specific resource

Leading City firm Ashurst Morris Crisp has developed a specialist secure Web site exclusively for collaboration with German banking client DrKW Finance.

The password-protected site is the first of its kind to be designed by Ashursts and allows DrKW access to specifically negotiated master documents for use with their future clients, as well as a personalised deal archive, activity log and timetable.

Jeremy Thomas, Ashursts' legal development partner, said: 'This "client know-how centre" is a knowledge-sharing base which helps us service our client and in turn helps them manage deals with theirs.

The site contains a set of standard transaction documents that DrKW can show to their clients pre-deal - any changes or additions to these can then be referred to us.'

He continued: 'The real advantages to this kind of know-how centre are that it speeds up a deal tremendously - as it stops a lot of toing and froing - and it gives us a deeper understanding of what the client wants and needs, and helps them facilitate a deal.

It also integrates us as a law firm with our client.'

Mr Thomas said the knowledge-sharing concept was available to any client that wanted them, although it would only suit a certain client type.

'Ashursts can make these available upon demand, but it must be with the right kind of client,' he said.

'It is a two-way thing, so the other party must be prepared to work on it as well, and it is only really practicable for those companies that regularly do deals.'

Andrew Towler