The legal industry is one of the most documented-intensive industries. The amount of paperwork and files that are created, analyzed, and stored requires a lot of time and resources. Therefore, there is a need for law firms to manage all of their documentation effectively with streamlined processes.
In this article, we explore law firm document management systems and document management solutions.
The Need For Law Firm Document Management
Introducing new technologies and software may seem daunting when worrying about training a team to proficiency on a new system. However, the time and resources saved by introducing technology into document management systems may be well worth the initial effort. Additionally, you can hire litigation support services that include the implementation of effective law firm document management solutions. Outsourcing the entire process allows firms to focus on other aspects of investigation and litigation.
A law firm that does not have a legal document management system in place may lose revenue due to the lack of efficiency and the elevated risk of errors. Whereas, having a streamlined legal document management system may allow firms the capacity to acquire more clients, improve reputation because of minimized risks and errors, and increase profitability.
Choosing Document Review Software
The best legal document review software is one that provides intelligent information management technology that can break down larger, disorganized tasks into simpler ones.
Electronic discovery software, also known as eDiscovery software, is a tool used by legal professionals to gather and maintain documents related to a lawsuit.
Some of these documents/communications include:
Audio and video files
Social media messages
Your document review software should create a customized and searchable directory while ensuring documents and communications are stored properly for legal purposes. Familiarize yourself with software features and reviews before choosing your document review software.
The Key Benefits of Law Firm Document Review Software
When you are acquiring document review software, you want to consider your return on investment (ROI). While software requires an investment, it may save your law firm money in the long run due to time savings and the use of fewer resources.
The following are the main advantages of using law firm document review software:
You Can Meet Deadlines Easier - Relying on paperwork and manually writing down notes or compiling emails makes it difficult to meet deadlines. When there are so many documents to review, you can get backlogged. With an integrated platform, you can manage caseloads and track deadlines all in one place. When all communication is done through a software platform, it can save additional time.
Supports Remote Working and Remote Teams - Even after the pandemic, many legal professionals are choosing to continue working from home, or hybrid working. This is also true for court appearances, where some appearances are made remotely. Document review software allows remote working and the ability to access files, client documents, and cases from anywhere. This means that files are available to access at any time, from anywhere.
Client Files on a Single System - Client files can be consolidated into a single system. All an attorney or legal representative has to do is enter the client data into the software tool and the relevant information will be presented.
Use of Artificial Intelligence - Document management tools use metadata to find legal files quickly. Metadata tools also simplify classifying documents. This saves several hours of time and reduces the use of resources and staffing.
Document Management Solutions
The first step in implementing a document management project is to build a strategy. Then it's important to put together an experienced team. Lastly, include AI-driven technology for efficiency. A combination of these help to give counsel a strategic case advantage.
With the correct tools, team, and software, documents can be created, distributed, and analyzed while adhering to guidelines without wasting huge amounts of time and resources. In fact, law firms can reduce litigation costs by up to 55 percent by reviewing eDiscovery practices and utilizing technology.
In addition to document review, document management solutions can cover the following areas:
Recording sensitive information
Keeping easy track of case assignments within the team(s)
Secure offline handling of documents
From the creation of a legal document through to its disposal, everything can be managed with a streamlined document management system.
Stepping into digital legal transformation can be extremely advantageous for your law firm. UnitedLex can help with Managed Review and provide Litigation and Investigation solutions. You can book a meeting here to find out more. UnitedLex is a technology and legal services company committed to delivering full-scale Digital Legal Transformation. The world’s most forward-thinking law departments rely on the company’s expertise in more than 25 global jurisdictions. Founded in 2006, the team includes 3,000 legal, engineering, and technology professionals with major operations in 18 countries. For more information, contact us.