How to Identify the Best Enterprise Legal Management Software For Your Law Department By Onit January 18, 2022 Business Process Management,ELM 4 Minute Read In today’s fast-paced and quickly evolving business environment, corporate counsel and legal department professionals want to work faster, smarter and more efficiently. One of the ideal ways to do this is by automating manual processes, minimizing risk and gaining greater insight into matters and spend with enterprise legal management software. How can you find the best enterprise legal management solution for your law department? If you’re interested in implementing the ideal ELM software to increase efficiency and help get a handle on legal spend, the following resources can help. Enterprise Legal Management Resources The History of the Enterprise Legal Management System and How Today’s Innovators Use It: ELM systems have evolved significantly since their first iteration more than 40 years ago. Before ELM solutions, paper ruled every aspect of legal operations. Now, with digitization, automation and AI, ELM systems transform legal operations, analyze spend, minimize company risk and drive process efficiency – all while helping corporate legal departments better support their businesses. Read more to learn how ELM software became critical to today’s corporate legal departments and how innovative GCs, in-house counsel and legal operations professionals are now using it. Six Features of the Best Matter Management Software: Matter management software puts critical matter, financial and performance data at the fingertips of corporate counsel and legal operations. But what features should a corporate legal department prioritize to gain the best return on investment? This post outlines the top six features to look for in matter management software. How to Prepare Your Team for an Enterprise Legal Management Software Implementation: An ELM implementation brings all-new operational efficiency levels to corporate legal departments. In fact, some estimate that the best enterprise legal management software can help save up to 10% on outside counsel spend. It’s critical, though, not to lose sight of the people component of ELM implementations. This blog post sets out the best practices to ensure that you have all your crucial players on board to make your implementation a success. What to Look For in Enterprise Legal Management Software: ELM software turbo boosts legal operations and brings new levels of operational efficiency to corporate legal departments. A comprehensive solution that combines e-billing, matter management and legal service request intake into a single, streamlined platform provides a game-changing way to analyze legal spend, minimize company risk and drive process efficiency. However, all these benefits are only possible if you find the best enterprise legal management software to support your law department and its unique needs. This blog post breaks down what you should be looking for and why. Legal Spend Management Resources Legal Billing Review: How to Right-Size Invoice Charges: When it comes to legal billing, corporate legal departments often have a baseline expectation: Charge my company the correct amount. However, what sounds like a simple premise (and should be easy to meet) comes with serious challenges. The ELM helps alleviate some of those challenges, but companies still need the right approach to invoice review to ensure they’re not overcharged. Matt DenOuden, Onit’s SVP of Global Sales, sits down with Chubb and Sterling Analytics executives to explore the ideal approach that adds efficiency and expertise to invoice review while still honoring a company’s relationship with its law firms. Ensure Accurate Legal Billing By Avoiding These Four Common Invoicing Problems: While having accurate legal billing is something all parties involved can agree on, it’s still a complicated process for large corporate legal departments. A single law firm bill may have hundreds of pages, clock in at millions of dollars and cover multiple matters, tasks and timekeepers. Outside counsel guidelines, billing code confusion and the sheer volume of bills further complicate invoice review. This blog post discusses some of the most common errors that make accurate legal billing challenging. The Latest Advancement For AI in Spend Analytics: Legal invoice review is rarely a top-ten task for corporate legal departments, meaning it’s the ideal process for AI in spend analytics to improve. This post explains how AI, combined with the best enterprise legal management software, analyzes historical and real-time legal invoices to find errors “between the billing rules.” Finally, if you’re in the mood for a fun ELM video, we have just the thing for you. Implementing the best enterprise legal management software for your business can go a long way toward increasing efficiency and eliminating the most common pain points associated with legal spend management. Onit ELM is here to help. Reach out to us today to schedule a demonstration or learn more at [email protected]. Today's Popular Post Business Process Management Leveraging AI-Enabled Dashboards and System Integrations to Simplify Contract Management Read More Business Process Management Embracing the Paradigm Shift: Enterprise Legal Management and AI Read More CLM A New Approach to Contract Management Read More Subscribe Today Sign up for updates on new posts from our blog. 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