The Dangers of Inefficient Matter Management
The business of matter management – keeping track of the case details, documents and invoices that are an integral part of your department’s day-to-day operations – has changed dramatically over the last few years.
What was once an arduous, labor-intensive process is being revolutionized by matter management software: tools and solutions that maximize productivity and security, while offering transparency into how your firms are managing your cases.
These tools are more than just a “nice-to-have”; they’re a critical element of your legal department’s success. Without proper matter management, your department is susceptible to the following pain points:
Wasted time and money
The most obvious result of inefficient matter management is its effect on your company’s financial health. Without an organized and streamlined system in place, your firms will inevitably spend more time re-inventing tasks and work already produced by another firm. The more time they spend is more cost to you.
If there’s no set way to manage your information, then it will be managed in different ways across your internal staff, and across your outside firms. Inconsistent work process also affects visibility into your workflow – you can’t properly gauge opportunities for change without quantitative analysis against a reliable baseline.
Mistakes as a result of the paper flow and myriad emails back and forth are inevitable and understandable but can be extremely costly for your department. Certain processes are better handled via automation – due dates, document maintenance, and billing guideline enforcement, just to name a few.
Liability is a complex, multi-faceted issue; risk reduction is essential. Your department can’t afford to take the chance of being non-compliant in any aspect of its operation. Transparency into what your firms are doing is critical.
Ineffective and disorganized matter management affects more than just your bottom line. The tedious effort associated with completing repetitive manual tasks or performing complicated workarounds prevents employees from focusing their time and attention on more crucial projects.
A best-in-class ELM solution that’s designed around effective matter management, and that’s also modular, flexible, and scalable, can help you produce greater efficiency and better results on all fronts from the matters moving through your legal department.