In the current competitive market, legal departments are constantly battling to keep up with the technological changes and be the best and most secure department of the company. Many legal teams are under pressure to control spend and maintain work quality even as the business grows and employ legal talent to the most.
The sole challenge that these in-house legal counsels face is managing thousands of legal cases relating to external and organisational disputes per year. This is when technological solutions like case management tools or matter management solutions come into the picture.
Matter management solutions manage the entire process of opening matters, managing workflow and reporting matters in a single place. It is difficult to the legal department of a company to communicate with outside counsels, delegate legal tasks to lawyers in different cities, and manage different legal disputes. A matter management tool reduces unnecessary legal spending of the company by taking care of these time-consuming and costly tasks by providing an all-in-one solution.
A legal matter management tool has the following key benefits:
Tracking legal matter: A matter management tool keeps track of all the active matters of the company and maintains the record of which lawyer is taking care of what kind of matter. It also maintains the details of the city and court in which a matter is filed and the stage at which the case is. It also reduces the number of manual documents that need to be maintained in a case, reduces the time to process these documents, and keeps all the legal information pertaining to a legal matter in a single place. A matter management tool provides legal information to the lawyer and in-house counsel, creating a constant flow of information between the two. As the tool is centralized and can be accessed by only certain people, it is easy to stay organized and give only the required employees access to a case’s information.
Managing billing and legal costs: Some matter management tools also help in keeping a track of legal budget for each and every matter. A matter management tool employs e-billing modules to manage legal bills effectively and also helps in tracking the cost of reviewing legal documents, lawyer bills, vendor payments, and other legal invoices. It can help in setting a limit of company’s expenditure in a particular case, set alerts and automate payments.
Managing documents: A matter management solution also keeps a track of all the documents required, filed in court or exchanged in a legal case. Some companies employ a separate document management tool to manage their legal documents, but certain matter management software come with a built-in document manager that helps in sorting legal documents according to case name, case type, time of filing or volume. It makes it convenient to access any kind of legal documents like court filings, corporate agreements, and legal notices in a single place. It can also protect sensitive legal document which can be accessed by only certain individuals, providing complete data security and back-up.
Reporting cases: Some matter management tools also report fresh cases using the existing pill of massive legal information. Such tools report cases according to case location, the best lawyers available in a city at affordable rates and provide case summaries at each level of court proceedings.
Keeping track of legal cases, lawyers, legal expenditure and case-related documents for a company’s legal matters used to be a manual process. However, now matter management technology enables the process to be centralized and systematic. As more data is added to each legal matter, better quality information is produced about a company’s portfolio, enabling to employ the in-house counsel and outside legal talent in the best way possible.
MyAdvo’s Case Management tool employs an all-in-one solution for matter management, document management and legal billing. Know more about MyAdvo’s case management tool- Email us at email@example.com or call now at 9811782573.