Gilbert + Tobin
CASE STUDY
Gilbert + Tobin streamline PPSR due diligence research Gilbert + Tobin uses powerful visual information management software to make PPSR due diligence research more efficient and cost effective.
Challenge The Personal Property Securities Act has changed the due diligence landscape in Australia. When assets or companies are being acquired or financed, it’s now standard practice to search the Personal Property Securities Register (PPSR) to identify security interests. But as the number of securities recorded on the PPSR explodes – there were 523,008 new registrations in the June quarter 2014 – it becomes ever more time consuming to sift through the Register to identify relevant securities. With constant pressure from clients to reduce administrative costs such as due diligence, how do law firms minimise the time spent searching the PPSR while ensuring no vital security interests are overlooked?
Solution Gilbert + Tobin uses Encompass to do the due diligence searches of the PPSR. Encompass is visual information management software that enables lawyers to search, review and manage third party commercial data from a variety of sources (such as PPSR, ASIC, AFSA and land titles offices) through a single online interface.
Export data to spreadsheet When reviewing PPSR data to determine the priority of security interests, it’s imperative nothing’s missed. But that’s not easy when you have to read through a stack of printed search certificates or PDFs. Encompass allows Gilbert + Tobin’s lawyers to compile all the PPSR search information into one simple “PPS Registrations” Excel spreadsheet. There’s no need to read the certificates and re-key the data – it’s already tabulated and ready to be reviewed. The lawyers simply cut and paste the data into their custom spreadsheet template, which presents the PPSR data in a standardised way. This allows systematic and thorough due diligence research. For example, when searching for a particular type of security (e.g. ALLPAAP) you can simply filter the data in the spreadsheet so only the chosen type of security is visible.
CLIENT PROFILE Gilbert + Tobin is a corporate law firm founded by Danny Gilbert and Tony Tobin in 1988. Headquartered in Sydney, with offices in Melbourne and Perth, the firm now employs more than 500 people. It has the highest proportion of female partners of any major Australian law firm, and is acknowledged as a pioneer in doing pro bono work.
“
Encompass reduces the searching time, so it takes five minutes instead of potentially days. It also makes us more productive – instead of spending so much time on search and review, we can be doing other work. Cheyne Clarke, Lawyer, Gilbert + Tobin
”
“Usually we’re looking for something that we’re not going find. By using Encompass’s Excel export we can say for certain that it’s not there,” said Gilbert + Tobin lawyer Cheyne Clarke.
Corporate groups – no problem! Searching the PPSR for all securities registered to a corporate group can be challenging as a search must be completed for each entity in the group. But with Encompass, Gilbert + Tobin’s lawyers can combine all the entities into a single “workspace”. They can then combine all the PPSR search data from all the entities in the workspace into a single spreadsheet. “If you are acting for a lender who is lending to a corporate group you’d need to search the PPSR for all the entities in the group, and Encompass makes it quite easy,” Clarke says.
Speed counts With clients putting pressure on law firms to reduce bills – especially for administrative work – writing off hours is a fact of life. But because Encompass speeds up PPSR due diligence without any loss of accuracy, it can also add to the bottom line. Less time spent on due diligence searches means fewer – if any – hours written off. “Encompass reduces the searching time, so it takes five minutes instead of potentially days. It also makes us more productive – instead of spending so much time on search and review, we can be doing other work,” Clarke said.
“
If you are acting for a lender who is lending to a corporate group you’d need to search the PPSR for all the entities in the group, and Encompass makes it quite easy. Cheyne Clarke, Lawyer, Gilbert + Tobin
”
Results and Benefits Using Encompass for PPSR due diligence searches provides many benefits to Gilbert + Tobin: »»
Encompass provides a complete end-to-end PPSR solution, delivering key information in an easy- to-use format as well as all the source data and detailed documents.
»»
It significantly reduces the time needed to search and review PPSR data, without any loss of accuracy.
»»
Because PPSR research time is minimised, fewer billable hours are written off and lawyers can be redeployed on higher value work.
»»
Encompass helps ensure PPSR due diligence research is thorough, giving peace of mind that no significant security interests have been overlooked.
Find out more at www.encompasscorporation.com Encompass is a unique and innovative visual information platform that takes the headache out of working with commercial search data. It aggregates multiple sources of person, company and property data within one simple online interface, streamlines search and uses the power of visualisation to give customers the full picture, fast. With Encompass, understanding information from PPSR, ASIC, Land Title Offices and other commercial sources is easier and faster than ever.
Gilbert + Tobin streamline PPSR due diligence research Gilbert + Tobin uses powerful visual information management software to make PPSR due diligence research more efficient and cost effective.
Challenge The Personal Property Securities Act has changed the due diligence landscape in Australia. When assets or companies are being acquired or financed, it’s now standard practice to search the Personal Property Securities Register (PPSR) to identify security interests. But as the number of securities recorded on the PPSR explodes – there were 523,008 new registrations in the June quarter 2014 – it becomes ever more time consuming to sift through the Register to identify relevant securities. With constant pressure from clients to reduce administrative costs such as due diligence, how do law firms minimise the time spent searching the PPSR while ensuring no vital security interests are overlooked?
Solution Gilbert + Tobin uses Encompass to do the due diligence searches of the PPSR. Encompass is visual information management software that enables lawyers to search, review and manage third party commercial data from a variety of sources (such as PPSR, ASIC, AFSA and land titles offices) through a single online interface.
Export data to spreadsheet When reviewing PPSR data to determine the priority of security interests, it’s imperative nothing’s missed. But that’s not easy when you have to read through a stack of printed search certificates or PDFs. Encompass allows Gilbert + Tobin’s lawyers to compile all the PPSR search information into one simple “PPS Registrations” Excel spreadsheet. There’s no need to read the certificates and re-key the data – it’s already tabulated and ready to be reviewed. The lawyers simply cut and paste the data into their custom spreadsheet template, which presents the PPSR data in a standardised way. This allows systematic and thorough due diligence research. For example, when searching for a particular type of security (e.g. ALLPAAP) you can simply filter the data in the spreadsheet so only the chosen type of security is visible.
CLIENT PROFILE Gilbert + Tobin is a corporate law firm founded by Danny Gilbert and Tony Tobin in 1988. Headquartered in Sydney, with offices in Melbourne and Perth, the firm now employs more than 500 people. It has the highest proportion of female partners of any major Australian law firm, and is acknowledged as a pioneer in doing pro bono work.
“
Encompass reduces the searching time, so it takes five minutes instead of potentially days. It also makes us more productive – instead of spending so much time on search and review, we can be doing other work. Cheyne Clarke, Lawyer, Gilbert + Tobin
”
“Usually we’re looking for something that we’re not going find. By using Encompass’s Excel export we can say for certain that it’s not there,” said Gilbert + Tobin lawyer Cheyne Clarke.
Corporate groups – no problem! Searching the PPSR for all securities registered to a corporate group can be challenging as a search must be completed for each entity in the group. But with Encompass, Gilbert + Tobin’s lawyers can combine all the entities into a single “workspace”. They can then combine all the PPSR search data from all the entities in the workspace into a single spreadsheet. “If you are acting for a lender who is lending to a corporate group you’d need to search the PPSR for all the entities in the group, and Encompass makes it quite easy,” Clarke says.
Speed counts With clients putting pressure on law firms to reduce bills – especially for administrative work – writing off hours is a fact of life. But because Encompass speeds up PPSR due diligence without any loss of accuracy, it can also add to the bottom line. Less time spent on due diligence searches means fewer – if any – hours written off. “Encompass reduces the searching time, so it takes five minutes instead of potentially days. It also makes us more productive – instead of spending so much time on search and review, we can be doing other work,” Clarke said.
“
If you are acting for a lender who is lending to a corporate group you’d need to search the PPSR for all the entities in the group, and Encompass makes it quite easy. Cheyne Clarke, Lawyer, Gilbert + Tobin
”
Results and Benefits Using Encompass for PPSR due diligence searches provides many benefits to Gilbert + Tobin: »»
Encompass provides a complete end-to-end PPSR solution, delivering key information in an easy- to-use format as well as all the source data and detailed documents.
»»
It significantly reduces the time needed to search and review PPSR data, without any loss of accuracy.
»»
Because PPSR research time is minimised, fewer billable hours are written off and lawyers can be redeployed on higher value work.
»»
Encompass helps ensure PPSR due diligence research is thorough, giving peace of mind that no significant security interests have been overlooked.
Find out more at www.encompasscorporation.com Encompass is a unique and innovative visual information platform that takes the headache out of working with commercial search data. It aggregates multiple sources of person, company and property data within one simple online interface, streamlines search and uses the power of visualisation to give customers the full picture, fast. With Encompass, understanding information from PPSR, ASIC, Land Title Offices and other commercial sources is easier and faster than ever.
