Legal Matter Management

The biggest challenges facing corporate legal departments today are increasing case loads, a complex risk environment, and high legal costs. General Counsel are striving to find more efficient ways to manage and track all contracts, lawsuits, claims and other legal matters, as well as investigate and mitigate risk - all while reducing spend, and optimizing the use of resources.

Effectively managing these various demands requires legal departments to gain timely insights into their organization’s risk profile, and track legal budgets, vendor profiles and other critical matter management data. To do this, many legal departments rely on disparate tools and siloed systems such as emails, spreadsheets, and individual databases which can often create matter management nightmares. The legal team is forced to spend most of their time shuffling through piles of documentation, trying to retrieve the right files, aggregating data from various systems, and manually monitoring legal spend. In turn, their reporting is not always consistent, and does not provide the kind of in-depth and real-time visibility that General Counsel need to make smart strategic decisions.

MetricStream Matter Management Solution
MetricStream Matter Management Solution provides a single, integrated framework to efficiently control and monitor all legal matter management activities, including vendor / external counsel evaluation, vendor profile maintenance, vendor performance management, budget allocation, expenditure tracking, invoice processing and document management.

The solution streamlines end-to-end matter management activities, enabling legal departments to enhance operational efficiency, and reduce redundant or duplicate efforts. It also automates resource-intensive processes such as report creation, thus saving time and costs, and allowing the legal team to focus on more valuable activities such as data analysis.

Built on MetricStream’s integrated platform, the solution extends across the global enterprise, allowing legal teams to seamlessly collaborate with each other, as well as other assurance functions such as the risk, compliance and audit departments. Powerful dashboards and flexible reporting capabilities provide real-time, granular insights into important matter management data, enabling General Counsel to closely track legal activities, risks and expenses, while proactively identifying opportunities for improvement, and saving costs.

Benefits

• Simplify and streamline the management, analysis and tracking of all legal matter management initiatives and costs.
• Gain a single, centralized framework with intuitive access and search capabilities to efficiently manage, maintain and communicate all vendor profiles, invoices and other supporting data.
• Enhance your ability to evaluate and choose the right vendor with flexible tests and questionnaires, conflict of interest surveys, and built-in checklists that map to your organization’s criteria and standards.
• Closely analyze and track vendor performance with real-time data delivered through graphical executive dashboards.
• Reduce legal spend by efficiently allocating budgets, and tracking expenditures.
• Receive automatic alerts when expenses are near or exceed legal budgets.
• Reduce the maintenance costs of documents and files.
• Streamline financial processes through seamless integration with billing systems.
• Replace time-consuming and cumbersome manual processes with efficient automated workflows.