In the legal services industry, profitability is dependent upon effective information management. Law firms and corporate counsel spend the majority of their time researching records, preparing court documents, managing case information and ensuring regulatory compliance. The number of documents law firms manage is staggering. With an information-dependent business, law firms need document preparation and information management.
WHAT ARE THE CHALLENGES WITHIN LEGAL INDUSTRY?
Legal industry is not only challenging but also demanding and dynamic, making it important for the law firms to stay constantly updated. Here are some top challenges faced by the legal industry:
Legal firms handle sensitive documents such as agreements, case files, pleadings, evidential records and contracts that are time-sensitive and confidential, requiring high level of security. Lack of security can lead to leakage of sensitive client and case records, leading to humiliation and even loss of clientèle.
WORKFLOW AND SHARING
Legal documents have to be assessed, accessed and distributed to clients, associates and to other branches, which means they have to be shipped, e-mailed or faxed, making sharing complex and expensive
Legal professionals have to research and refer legal documents and clauses for which they have to devote a major chunk of their time. It has become crucial for all legal firms to incorporate software and technological solutions, so that they can offer clients more for less, stay abreast of changes and collaborate without bearing additional costs. Enterprise Content Management (ECM) can help them do all that, plus some more.
Some of the key features of Doctrix ECM, which are of utmost importance in legal industry, are:
With Doctrix, you can secure all confidential documents such as agreements, client records, complaints, motions, interrogatories, evidence documents and contracts in a centralized location. You can also ensure that only authorized people can access certain documents in your repository. This means your confidential data is safe and so is your reputation and client-base.
Doctrix provides a cost-effective and smarter alternative to long-established methods of sending documents such as shipping, email and fax for assessment and distribution. Other than making sharing documents easier, Doctrix allows you to route tasks, set deadlines, alerts and reminders, thereby improving workflow and productivity.
Doctrix’s document profiling template ensures that you tag client records with necessary information such as client name, date of filing, case number, key points, matter, trial date, etc. Structured metadata allows for quick reference. You can also set relations between documents, making it easier for you to use related documents, agency rules, statutes, court decisions and cases for quick research and easy reference.