Peer to Peer Magazine

29 WWW.ILTANET.ORG maintained in the client file. By implementing a single platform for maer content, you can eliminate duplicate storage systems and enforce tighter controls over who can access certain information (which, in turn, lowers the chance of data breaches). Having a shared repository also allows firms to integrate additional tools such as extranets for collaborating with third parties, records management applications and service desk solutions that reinforce effective content consumption through the maer life cycle. » Do we need third-party support? Choosing to adopt a new document management system or other client file management solution is only half the bale. New cloud-based client file management tools can be as intricate as the maer life cycle itself, requiring specialized skills and time to maintain. These intricacies, paired with the challenge of meeting data security standards and integrating with other IT systems, can quickly outweigh the technology's benefits. Fortunately there is a growing market of external service providers with the niche resources to guide law firms' strategic and tactical adoption plans (and even manage entire information services/information technology environments), freeing firms to spend more time on their core competencies. Win-Win: Law Firms and Their Clients Both Gain from Improved Client File Management By rethinking a core function like client file management, law firms can overcome risk, inadequate work quality, broken workflows and inefficient spending. In other words, this is an opportunity for firm leaders to break down the barriers that stand in the way of sustainable profits and exceptional client service. From a security and technology perspective, modernized client file management gives firms the chance to augment their overall IT security and enforce stronger data governance. By migrating lawyers and staff away from using an array of consumer apps to an enterprise-grade document management solution, firms are more likely to meet clients' security standards and mitigate the risk of confidential maer information geing into the wrong hands. A significant benefit of evolved client file management to both firms and their clients is the productivity and morale boost. For lawyers and their staff, a centralized client file management system and more defined processes offer the flexibility to work remotely without sacrificing collaboration. Less time spent searching for relevant content and collaborating with the maer team means lawyers spend fewer hours on administrative tasks and more time delivering client service and nurturing client relationships. It also facilitates knowledge sharing internally, seing up lawyers for long-term success. Morale is improved by having beer access to information through intuitive systems that align with lawyers' workflow and practice- specific needs. In turn, law firms reduce extraneous costs and close maers faster, freeing them to take on new business. Each of these advances alleviates law firm margin pressure and supports profitability, while positioning firms to deliver more intentional, strategic results for clients. In the realm of law firm operations, old habits die hard. But in a fast-paced world of rising client expectations and narrowing margins, for firms to keep meeting (and exceeding) their fundamental goals they must regularly reevaluate their habits. The primary objective of law firms has always been to deliver excellent client service in a profitable manner while minimizing risk. Now is the time to recognize that transforming the client-maer file life cycle is key to supporting this traditional objective. P2P TERRY COAN Terry Coan is a senior director for HBR Consulting specializing in advisory services to the world's largest law firms and corporate law departments. By leveraging an integrated approach to managing the continuum of law firm information, Terry delivers value to clients by reducing expense, mitigating risk and improving legal service delivery. Contact him at tcoan@hbrconsulting.com. RAJIV MUKERJI Rajiv Mukerji is a director for HBR Consulting, assisting global law firms and corporate legal departments to improve their client and customer service while mitigating risk through better client file and matter management, information governance frameworks and policies and increased user adoption of supporting technologies. Updated Client File Management Practices Give Law Firms the Competitive Edge FEATURES

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