Case Studies: How Two Leaders Embraced Corporate Legal Transformation
What does a multinational investment bank and financial services provider have in common with an American workers’ compensation insurance provider?
They both found the right solution for the challenges they were facing with the TeamConnect software platform.
The financial services firm needed to modernize its legal department, struggling with siloed business processes that were causing various strategic pains, from slowing down responses to regulatory requests to an inability to use historical data to forecast outside legal counsel costs.
The insurance provider was experiencing a substantial rise in caseload volume, but antiquated technology solutions and siloed investigation processes were slowing down investigators. With critical data stored in different systems, valuable time was wasted searching for and inputting information, impacting productivity.
Both companies needed a centralized hub, a single source of truth to ‘connect the dots’ and consolidate business processes in one seamlessly integrated platform.
The benefits of best-in-class corporate legal management software
Leveraging a fully featured corporate legal management software platform can offer organizations increased efficiency and accuracy across various aspects of their legal operations. By automating processes with this software, teams can free up valuable employee time otherwise spent on menial tasks, reducing costs and improving productivity.
A best-in-class ELM platform will help enhance visibility into processes and allow leadership to make informed decisions for the entire organization. It will break down costly technology and process silos, automating and standardizing processes that can benefit your company. Moreover, consolidating your tech stack around a corporate legal management platform by single-sourcing technology from the same provider can reduce integration costs and lower your exposure to risks caused by multiple providers whose products may not be compatible, scalable, or flexible enough to keep pace with your needs.
Why did they pick TeamConnect?
Both of the companies in these cases studies were drawn to Mitratech’s enterprise legal management solution, TeamConnect, because it offered an end-to-end solution that improves collaboration and is flexible and scalable over time.
For companies like these, one key driver in adopting TeamConnect was their desire to consolidate processes within a single, proven software platform that’s been cited as a leader in unifying people, operations, and information across enterprises. They also saw the value of a platform that scales to meet their legal department’s needs, both today and in years ahead.
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