6 Ways to Sell a Legal Management Solution to Leadership
Adopting legal management technology to support your corporate legal team may not be a top business priority at some companies. Show your leadership why it should be.
The C-suite or company leadership is usually long on challenges and short on time. How do you convince even a non-legal stakeholder of the need for a legal management solution when their attention (and the company’s budgets) are pulled in scores of different directions, especially at companies with evolving legal needs but limited in-house resources? By showing them how legal management software benefits not only legal department performance but the entire organization.
It’s why the legal management software sector is growing so rapidly as more companies realize the need. Here are six powerful arguments to help make a good business case for legal management software adoption…
Cut costs and maximize value with accurate e-billing and spend analytics
How much money is wasted with inaccurate insight and control over eBilling? Leverage greater precision and detailed oversight of outside counsel spend. A good legal management solution enables the simplified creation of detailed records for each step in the invoice and payment process, enforcing billing guidelines while maintaining flexibility in your agreements. All the while, you can integrate your legal management tool seamlessly with claims and AP systems.
Even better, uncover the true value delivered by outside counsel by analyzing how their costs compare to outcomes, increasing your confidence on firm selection for future projects.
Streamline and accelerate your processes
Increase operational efficiencies and staff time savings. Example: Get as much as 75% of your time back when opening and assigning new matters.
Create an established standard for each legal matter within your system. This allows teams to compare cases and claims against each other for insight into every moving piece of a file. This can include practice area, matter type, budget, and much more.
Improve risk mitigation
Reducing the number and cost of regulatory non-compliance incidents can certainly shore up your company’s reputation. And preserve its bottom line.
A best-in-class legal management software solution empowers companies to avoid litigation and reduce fraudulent claim payouts by 10% through ensuring and standardizing legal best practices.
Create a secure single source of truth
Gather easy-to-lose, potentially critical information and documents into a single repository. Because even the most simple legal matters can require calling upon what may now be highly dispersed information.
Ensure documents, clauses, and other key data are centralized and consistent for all users. Mitratech solutions give you a single source of truth where you control access and that meets the highest industry data security standards.
Leverage analytics & reporting for better outcomes
Never again launch a matter or reach an outcome without calling on data-supported insights. Capture trends, view forecasts, and predict spend all from easy-to-configure reporting dashboards, increasing confidence in each decision and creating long-term value for the whole organization.
Staff can generate reports in a fraction of the previous time, and use these insights to help answer complex questions and generate more favorable outcomes.
Enhance how Legal serves the entire enterprise
Ask leadership: “Has legal’s involvement in other areas of the business risen or fallen over the last 5 years?” Odds are it’s on the increase as the complexities of compliance and regulation keep growing for every enterprise.
Procurement, IT, Finance, and HR are just some of the departments partnering with legal on a daily basis. It’s more critical now than ever to have a system in place that allows other business units to access and apply legal best practices, and for leaders to have visibility into every legal-related task or matter across the enterprise…even outside of Legal!
Get the right-sized legal management software solution
One point to bear in mind for would-be adopters as they investigate legal management software providers? To make sure the solutions they’re evaluating are right-sized to their corporate need. It’s the “Goldilocks dilemma” – what system is the right fit for an organization’s needs, not just today but in the future?
Mitratech offers legal management solutions that are right-sized for growing and global organizations. Their flexibility allows them to scale to meet the demands of today and tomorrow, and provide reliable, ROI-driving long-term solutions for legal departments large and small alike.
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