The advantages of litigation management tools for law firms
With increased cost pressures from their clients, modern law firms have been compelled to slowly but surely adapt to agile methods of working. While such agility can be developed in the service delivery model of the law firm, certain legal-tech tools can play an instrumental role in complementing the service delivery model for law firms.
One such legal-tech tool is the litigation management application, which allows lawyers to seamlessly manage and track all activities relating to each stage in a contentious proceeding, right from the receipt of a legal notice to the enforcement of a court order. The advantages of using a litigation management tool are listed below:
Streamlined matter management: A core feature of most litigation management tools is the ability to track key dates on each matter that the firm is engaged as a counsel in. Some tools go a step further and have the ability to integrate with the court causelists, and thereby automatically update the next date of hearing, with automated reminders sent to the relevant attorneys staffed on the matter. This frees up a significant amount of time that would otherwise have been spent on manually tracking and recording dates.
Centralized repository of case data: In addition to key dates relevant to a matter, there are several other data points and information relating to a matter that need to be accessible instantly. This could include client briefings and communications, briefing notes for the arguing counsel, summary of facts and arguments advanced, among other things. Litigation management tools allow all of this data to be collected and stored in a centralized folder specific to each matter, thereby allowing for streamlined and instant access to important case documents and data.
Document management: Most litigation management tools also contain certain document management features which are immensely helpful in maintaining a centralized database of all communication and correspondence with the court and the opposite parties on a matter. For firms seeking to build a strong knowledge management platform to assist attorneys on similar matters in the future, the document management features within litigation management tools offer a significant advantage
Spend analysis and tracking: Given the multiple miscellaneous and out-of-pocket expenses that law firms associated with each matter, it is important to keep track of the expenses incurred by the law firm in this regard. Litigation management tools offer a robust expense tracking system that integrates with the firm’s billing systems to instantly generate invoices related to such expenses. In addition to this, certain litigation management tools also feature spend analysis that allows the law firm to effectively track the nature and the degree of expenses being incurred by the firm on each matter.
Litigation management applications are a must have for any modern law firm, chamber or corporate legal department. Click here to find the Litigation Management products listed on this platform. If you have used a Litigation Management platform and want the world to discover it, please recommend them here for a listing.
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