Law firms constantly deal with an overload of data—often in paper format. Despite the prevalence of digital tools today, many law firms remain dependent on older systems for file-sharing and document management. But law firms that move paper processes to software-based solutions can realize efficiencies in a number of areas, including auditing and file-sharing. The following are a few benefits of document management software for legal businesses:
Using Document Management Software for Auditing (Both Internal and External)
Document management software for legal businesses can significantly reduce the time and effort required to gather relevant documents for audits. While law firms may choose to perform their own internal audits to ensure their compliance and guarantee their security to clients, they may also be audited by external sources. Whenever a firm is required to produce documentation for an audit, the business goes through a time-intensive and resource-draining process. (Not to mention, document-gathering is nonbillable time.)
Document management software relieves the firm from having to physically collect documents for an audit. The ability to instantly gather relevant documents is particularly essential for smaller firms. Law firms with 10 or fewer attorneys are often burdened with amassing the right materials for audits because they simply don’t have the human resources to handle the job. Document management software relieves smaller firms of that task and can be much more cost-efficient than having attorneys spend the time to gather the right documents.
File-Sharing Made Easy
Whether a firm uses document management software in the cloud or on-premise, the software can make file-sharing a more efficient process. Attorneys need to be able to access files and documents wherever they are as our world becomes increasingly mobile. With software instead of paper processes, attorneys can track how files have progressed. This includes viewing track changes to documents, receiving notifications when files have been added to particular cases, and sharing documents with clients in a secure way. Clients, in particular, expect a certain level of ease when it comes to accessing documents as the digital age progresses. With access to a document’s various versions and all the real-time changes made to it, clients will get that modern approach to file-sharing that they’ve come to expect.
The owner of a document can have control over who has access to it, whether that be an internal contact such as another attorney or an external one like a client. This feature ensures that only the relevant eyes to the document in question get access to that file.
The Future of Document Management for Legal Business
Document management software can bring several other benefits to law firms, whether those firms implement the software on-premise or use it as a cloud-based service. The future of legal business is a digital landscape where decades of paper are securely stored online. Such a change will revolutionize the way law firms do business.