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To keep up with the pace of the business, in-house legal teams need to find ways to stay organized and efficient at scale. Matter management is a crucial factor for the smooth efficiency of legal teams.
Matter management is the systematic process of overseeing all legal matters within an organization. This includes managing litigation, contracts, compliance issues, and various legal workloads. Matter management is a comprehensive approach to organizing, monitoring, and reporting on legal activities and documentation, guaranteeing effectiveness and timeliness.
A 2021 Gartner survey highlights that 72% of legal departments are focusing on internal workflow improvements, with matter management being a focal point. Effective matter management is vital for several reasons:
While both matter management and case management deal with legal requests, they are not the same. While both aim to streamline legal processes, matter management offers a holistic view of the legal function within an organization, whereas case management dives deep into the intricacies of individual litigation cases. The choice between these systems depends on the specific needs of the legal department and the nature of the organization's legal work.
Matter management encompasses all types of legal work within an organization, including both litigious and non-litigious matters. This includes various types of legal work, such as:
Matter management systems help track these diverse legal tasks, monitor progress, allocate resources, and manage legal spend effectively.
In contrast, case management is more narrowly focused on ligation and involves the handling of individual legal cases, focusing on documents, deadlines, and court requirements. Key aspects include:
An effective matter management solution should incorporate:
In-house legal teams face unique challenges in managing legal matters efficiently and effectively. To navigate these challenges, adopting best practices in matter management is crucial.
A centralized document management system can store important legal documents and ensure easy retrieval and secure sharing. For instance, legal teams can utilize modern, cloud-based document management platforms to manage contracts, litigation documents, and compliance materials, enabling team members to seamlessly access and collaborate on the latest documents, regardless of where they are. This approach saves time, reduces the risk of outdated versions and document misplacement, and enhances overall data security.
Another best practice is integrating workflow automation in legal processes. According to Hyperion Research, as of 2023, there has been a significant shift in legal departments embracing workflow automation. Approximately 71% of respondents plan to invest in a workflow automation tool in the next 12-18 months, either as a first-time investment or to replace an existing one. Automation software such as Streamline AI can significantly reduce the time spent on routine tasks, such as contract approvals, document drafting, and compliance checks. If these tasks are high-volume, this can result in significant cost savings.
For example, a tech company might use automation tools to streamline its sales contract or vendor approval process for contracts over or under a certain dollar threshold, where draft contracts are automatically routed to the relevant parties for review and approval, thereby reducing the turnaround time from several days to a few hours. This not only increases efficiency but also allows legal professionals to have the time to focus on more strategic tasks, such as advising on complex legal issues or negotiating more critical, high-value contracts.
In today’s modern businesses, data reigns supreme. For legal teams, leveraging data is essential to inform smarter decision-making processes. Software like Streamline AI makes it possible for legal teams to gain real-time insight into legal operations processes and trends, such as request volume (over time, by team or type), SLAs, and time at each step, or exceptions to thresholds and non-standard terms. By analyzing this data on legal matters, legal teams can better forecast volume and improve resource planning. The team can develop targeted strategies to mitigate risks or break down bottlenecks, such as through better compliance training or streamlined contract processes.
Incorporating data analytics into matter management enhances efficiency and risk management and transforms the legal department from a reactive service provider into a proactive strategic advisor to the business. This data-driven approach ensures that legal strategies are aligned with business objectives and that the legal team is contributing to the overall success and resilience of the organization.
Matter management transcends mere case handling; it’s about optimizing the efficacy and impact of the legal department. By understanding its criticality, differentiating it from case management, identifying vital components of an effective solution, and embracing continuous learning, in-house legal teams can significantly uplift their operations, making a strategic contribution to their organizations.
Scale your legal team's efficiency and effectiveness with modern workflow automation tools designed for in-house legal.