DLA Piper is set to launch a bespoke global financials system designed to streamline reporting across the entire firm.
Joint CEO Nigel Knowles said the system, which has taken two years to build at a cost of £10m, will significantly aid integration between the firm’s worldwide offices, although it will not be used by DLA Piper Group firms, whose reporting is undertaken on an individual basis.
The system will be able to break down reporting to individual departments, offices or regions and will also be able to handle these in different combinations. It will be possible to express revenues and profits in a variety of different currencies.
The system will take a year to roll out to every office. It will start in Eastern Europe, where current systems are most outdated, later this year.
The investment in the system represents the biggest expenditure made by DLA Piper since it was formed by the merger of DLA with US firm Piper Rudnick in 2005.