Technology has changed the meaning of matter management.
That’s great news for GCs looking to save time with technology. Costs of defending clients are on the rise, making this the perfect time to up your technology game.
According to one survey, 79 percent of legal teams have matter management rules, but only 60 percent enforce their own guidelines. Entity management tools like Legalinc’s dashboard can help you stick to your plan.
What used to be a passive set of rules has been replaced with powerful automation. For example, matter management programs handle common tasks like opening a new matter, organizing documents, and tracking costs.
Matter management software can be the central nervous system for your legal team, but not every tool will work for everyone.
1. Task management
Users need to know when tasks are completed or updated. With this added visibility you can avoid doing the same work twice. You’ll also improve communication for your team and your clients. Task management tools give you insight so you can respond to change quickly.
2. Document management
In another survey, researchers found employees spend five hours a week searching for documents. Documents should be saved and tagged so they’re easy to find. Searchable document storage will save your team hours every week. Legalinc’s software gives you the power to save documents related to your clients’ business filings. We created this tool to help you stay organized.
3. Contract management
Most legal teams manage a slew of contracts for each matter. Key terms, dates, and deadlines should be tracked and organized. Software allows employees to search and organize contracts, saving time and money.
4. Cost management
Experts in legal tech recommend billing software to process payments and track costs. Although not intentional, excessive billing does happen. Software that stops double-billing will quickly pay for itself.
Investing in innovations like these save time and money and allow you to focus on what you do best: salving hairy legal puzzles for your company. The amount of data legal departments review, send, and organize each day is daunting. That’s why more teams are using technology to spot inefficiencies, track deadlines, and cut costs.
Legalinc’s software helps you manage state requirements and business filings. You’ll spend less time on paperwork and more what matters. Get your free dashboard and see the savings for yourself.