Onit

Jul 17, 2018

8 Great Ways an Enterprise Legal Management Solution Can Help You

Traditionally, enterprise legal management (ELM) vendors have taken a databased-centric (system of record) approach in designing their solutions. However, and this cannot be over-emphasized, your competitive legal department needs a system of engagement – a system that supports the highly collaborative nature of your legal work. This in turn reinforces your business goals and ultimately, your bottom line.

In previous posts we’ve explored the benefits of a cutting-edge ELM solution, such as cost savings, flexibility, robust reporting capability, etc. But equally as important are the numerous crucial processes that enterprise legal management can help your team with. After all, you’re trying to find ways to improve your processes.

At Onit, we believe it’s important to manage the “whole” of your legal department’s operations – not just matter management and e-billing. Our definition of enterprise legal management includes a myriad of processes to help you manage your legal department like a business.

So what are some ways the right solution can help your organization? We’ve selected eight of our clients’ favorites:

  1. Matter Management – A matter management solution gives you clarity about your overall matter portfolio so you can make informed, strategic business decisions.
  2. E-billing – An e-billing solution allows third parties such as law firms and other vendors to submit invoices securely to the corporate legal department for review and payment.
  3. Contract Administration – A contract administration solution lets you quickly manage contracts and business documents in one central location.
  4. Contract Review and Approval – A contract review and approval solution simplifies the submission, review, approval and management of contracts in one easy to use tool.
  5. Legal Service Requests – A legal service request solution simplifies the intake process and provides a simple portal so business users can interact with the legal department.
  6. Legal Holds – A legal hold solution helps legal departments notify custodians of their duty to preserve information in a timely manner and guarantee compliance.
  7. Legal Project Management – A legal project management solution includes task, milestone management, resource management, and our differentiator: spend management.
  8. Alternative Fee Arrangements – An AFA submission and approval solution lets you easily track and manage AFAs from the intake process through approval.

One last word: you need to ensure that your ELM solution can be built around the way your teams work. After all, you’re trying to streamline your operations and avoid the old standards of relying on email and spreadsheets to get the job done. In today’s fast-paced legal settings, lawyers need to be able to work faster, smarter and more efficiently, and the best way to do it is by automating legal department processes.

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