How legal matter management solved similar challenges for our clients
Legal departments are under ever-increasing scrutiny to be the best-run department in an organization. Many legal teams are under pressure to control spend and maintain work quality even as the business grows, gain visibility into the entire legal department, and drive more high-value work from attorney staff.
Faced with the challenge of managing thousands of new matters every year originating from internal and external sources, our clients recognized that managing this process manually or with a legacy/homegrown matter management system gave them less automation and control throughout the matter lifecycle. If the routine processes of opening matters, managing workflow and reporting the matter progress are decentralized, they burden the legal department staff. When it is difficult to communicate with outside counsel and delegate work to preferred firms, companies end up unnecessarily increasing their legal spend. Over time, this could add up to millions of dollars worth of lost productivity and over expenditures.
A legal matter management solution solves these challenges, with three key benefits to implementing a solution:
- Reduce effort to open new matters. By automating matter opening, our clients can use templates and create standards to normalize matters across the legal department. This reduces the time to open a new matter from 60 minutes to 15 minutes.
- Establish a single source of truth. A centralized location for all matter data ensures a complete and accurate database. Beyond solely access to better data, a legal matter management solution provides comprehensive analytic capability for the legal department to identify trends and proactively mitigate risk. Prior to implementing Mitratech’s legal matter management solution a Director of Operations highlighted one of their challenges in our ROI on Matter Management whitepaper:
- Proactively manage costs. Because all matter data is centralized, it allows the legal department to matter manage workload and improve load balancing between preferred firms. Ensuring that counsel are working with the firms that provide the highest value to the legal department and optimizing the work that is done by in-house staff can save the organization 1.5% in external legal spend annually.
Senior level managers were spending significant time emailing and calling around looking for and asking about documents. The whole process was very inefficient.