Running any kind of office comes with its own smorgasbord of issues. From HR issues to organization to general office management issues, daily hindrances around an office can seem overwhelming. These problems can be further exacerbated if your office handles sensitive files that require stringent controls.
This is when companies can benefit the most from a matter management software.
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What is matter management software?
Matter management software provides companies with a variety of functions that allow them to administer all aspects of a corporation’s legal practice (or “matters”). Companies can use matter management software for issues like conflict and ethics control, day-to-day matter work, marketing, and business intelligence.
This kind of software will give you the ability to track the type of legal work being done on the case, the witnesses, judges, documents, budgets, and invoices associated with each legal matter.
How can companies use matter management software?
If your company has a legal department, they will benefit greatly from the use of matter management software. Due to the sensitive and urgent nature of the documents and cases being handled, legal departments are under constant scrutiny to be the most organized department in a company.
Your legal department will handle hundreds and even thousands of new legal matters every year from internal and external sources. Managing each of these matters manually or with a cobbled together system will strain your legal department. However, if your company invests in matter management software, these tasks will become centralized and permit your legal department to easily communicate with outside legal counsel and to delegate work to preferred firms. Without this, the time it takes to delegate these tasks and organize communications and tasks can add up to millions of dollars in overages a year. Such software also offer a feature of legal document automation to help companies manage their legal documents in the best way possible/
How will a company benefit from using matter management software?
When it comes to the benefits of matter management software, your company will see many benefits resulting from the use of the software. However, we have noticed three key areas where companies benefit the most from the implementation of this software.
Opening new matters will require less effort
By automating matter opening with the software, your legal department will be able to use templates and regularised standards that will normalize matters across your legal team. This will greatly reduce the time it takes to open a new legal matter.
There will only be one database of truth
By using the software to centralize all the data relating to a legal matter, you will be able to create one complete, accurate database that will permit your legal department to have access to one sole source of accurate data.
Once all the information concerning your legal matters is centralized to one location, it will allow your legal department to proactively manage costs effectively by managing workload and providing matter balance between the preferred firms. By ensuring that your legal department is working with forms that provide the highest value and communicating effectively, you will see your legal costs drop.