P2P

summer20212

Peer to Peer: ILTA's Quarterly Magazine

Issue link: https://epubs.iltanet.org/i/1397188

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16 P E E R T O P E E R : I L T A ' S Q U A R T E R L Y M A G A Z I N E | S U M M E R 2 0 2 1 Conflicts and business intake: optimal solutions for a critical law firm function The evolving face of conflicts and business intake solutions Law firms are increasingly shifting conflicts and intake responsibilities from partners to designated risk management staff - driving a need for process improvements and team reorganization. The ongoing impacts of COVID-19 have amplified the need for conflicts and intake software which supports a remote operating model. With teams working in diverse locations with varying cybersecurity protocols, first and third-party risks are escalating. Existing conflicts and intake technologies are reaching the end of their life cycle, and new technologies are evolving in response. Law firms' organizational structures are not all equipped to accommodate these new technological challenges, limiting return on investment. Two surveys of law firm general counsels conducted within the last five years list conflicts as a leading risk management concern. Conflicts and intake procedures are a critical risk management checkpoint. It is imperative that firms regularly reassess their process and respond to any external pressures and changes in their risk profile by identifying and actioning any necessary improvements to their current procedures, and remain proactive by replicating this review process over time. We will help strengthen your firm's risk management, while simultaneously identifying opportunities to significantly improve agility and efficiency. We do this from an independent viewpoint, as our clients ultimately make the decisions on software and IT providers.

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