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In many industries, there is a co-mingling of terms to describe the same or similar functions. In the in-house legal world, "legal management software," “legal matter management software,” and "case management software" are often used interchangeably. This leads to confusion about their differences and whether one approach is more effective and valuable for in-house legal functions.
In the corporate legal department, legal management software provides the foundational platform for the function of work, collaboration, communication, management of vendors, matter management, and so much more.
Work comes from a variety of locations, including internal stakeholders, external vendors and within the legal team itself. Legal management software encompasses the types of work requested, work that is in progress, and being executed within the corporate legal department.
The work, whether completed by the in-house legal team or outsourced to outside counsel, requires engagement, collaboration and proficient software to complete. The overall goal of legal management software is to support the legal team, assist the support function of the legal operations team, and optimize productivity. Throughout the process, work is streamlined to maximize efficiency, provide visibility, and mitigate risk. When all components work cohesively, the legal department can function as a strategic business partner to the enterprise. In some circles, legal management software is also known as enterprise legal management software.
There are several components of legal management software including financial management, contract lifecycle management, vendor management, analytics and reporting, and matter management. Legal matter management software includes various stages familiar to the in-house legal team. These stages are likely to include:
Case management software is distinct from matter management in several ways:
Industry data shows that more than 50% of work stays with the in-house legal team. This suggests that productivity, collaboration, cost factors, efficiency, and compliance are top factors when purchasing legal management software. Legal teams still using a patchwork quilt of software applications, experience more challenges to ensure high proficiency, efficiency, collaboration, or cost-saving techniques.
In-house legal departments that utilize the best enterprise legal management software realize an array of benefits that contribute to how workflow and productivity. One primary benefit of legal management software is the integration of contract lifecycle management within the software platform. In addition, those managing matters have the option to attach contracts with respective matters, so all the information is accessible and saves valuable time.
When technology procurement investigates legal management systems, that enterprise legal management platform needs to be scalable and robust. Many of the following features and capabilities are included in that list:
For optimal visibility and productivity, a comprehensive and integrated approach to utilizing in-house legal technology is advised, bringing all aspects of legal work, including matter management, into one consolidated legal workspace.
The benefits of a legal workspace include total oversight, productivity efficiencies, and risk mitigation from streamlined workflows across all legal work, without switching between systems. Additionally, data becomes richer and more actionable, allowing identification of areas for efficiency gains.
In summary, while case management software has its place in litigation, effective legal management software with in-depth matter management features is crucial for in-house legal functions to optimize operations, productivity, and efficiency. Essentially, the software is critical as a foundational component of the entire corporate legal department. A legal workspace approach to matter management enables legal teams to do more with less, focusing on delivering value as a strategic business partner and enabler. To learn more about the difference between legal management software and case management software, contact us.