What You Need to Know About Legal Contract Management PT
One of the most important parts of being a lawyer is contract management. Sure, you write contracts every day and complete them without a standardized process — but did you know sticking to this method can actually raise some management concerns?
Now that we’re living in a digital age, it’s only right clients and employees would demand better service from your firm. This includes the speedy and accurate provision of different documents. Without a proper system, you may end up with mismanagement, affecting your clients and employees. Thankfully, with the proper administrative procedure, you can avoid these mishaps.
For this reason, many firms incorporate technology in their legal contract management process using tools like Legal Technology Finder since it provides electronic discovery solutions, timekeeping management, and more. Not only will you save more time processing all your legal work, but you’ll also get to dodge clumsy mishaps, misplacing documents, and missing deadlines.
Previously, we gave you the lowdown of legal contract management and its role for legal professionals. Here, we’ll run through the best strategies you can incorporate in your firm for better legal contract management. Let’s take a look!
How Do I Have Better Legal Contract Management?
Tip #1: Store All Documents in a Contract Management System
Gone are the days when all legal contracts are stored in folders and envelopes and packed tightly on shelves. All those age-old tricks were effective, especially now that we live in a digital age where we can make contracts and discovery more accessible, all while reducing the likelihood of missing important documents.
Having a central hub for all your records will allow access to multiple lawyers and employees in several departments in your firm, a great electronic discovery solution. Fortunately, you can grant permission to authorized people, allowing you to maintain privacy in your filing system.
Tip #2: Know Your Contract Approval Time
The key to getting agreements off the ground right away is knowing your contract approval time. The faster you approve your contracts, the happier your clients will be and the more impressed they’ll be with your service. Knowing your approval time will also eliminate wasting time and going back and forth with your clients for changes.
Tip #3: Train Your Team to Use Management Tools
When you onboard new technology in your firm, you don’t just leave your staff with it and expect them to adjust to the new process right away. You must invest time in training your staff on using your new software by creating guides, showing tutorials, and having a conversation with them.
Digital adoption is a big step, and before you reap the benefits of efficiency and organization, you must ensure that everyone in your firm can use it correctly.
The Bottom Line: Legal Contract Management Tools Can Help Improve the Workflow of Your Firm
These are only a few tips that could elevate your legal project management in your firm. Having a centralized hub for documents is a fantastic electronic discovery solution that could save time and money while ensuring your clients are satisfied and no legal documents are misplaced.
Understanding your contract approval time can save you and your clients loads of time and reduce any mistakes in the process. And finally, a team that understands how to use new digital tools will help them be more productive and work more efficiently.
Why Choose Legal Technology Finder?
If you’re looking for electronic discovery solutions or need to upgrade your contract management system in your firm, consider using Legal Technology Finder.
Legal Technology Finder helps law firms, corporate legal departments, and private attorneys run their practices more efficiently. With an efficient system, lawyers and legal teams are more responsive, productive and can do more work worry-free.
Our tool helps with e-billing, e-discovery, document management, matter management, timekeeping, and contract management. Learn more about Legal Technology Finder today!