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Understanding the Legal Automation Market

Understanding the Legal Automation Market. Corporate Secretary & Matter Management Software. 1. Defining Legal Automation Products. 2. Leading Products in the Marketplace. 3. Key Benefits of Legal Automation. 4. Introducing a New System to Users. 5. Making a Purchase Recommendation. Agenda.

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Understanding the Legal Automation Market

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  1. Understanding the Legal Automation Market Corporate Secretary & Matter Management Software

  2. 1. Defining Legal Automation Products 2. Leading Products in the Marketplace 3. Key Benefits of Legal Automation 4. Introducing a New System to Users 5. Making a Purchase Recommendation Agenda

  3. Manage Corporate Legal Practice MATTERS COSTS CONTACTS DATES Defining Matter Management Intellectual Property Litigation Employment Transactions Any type of matter! Outside Counsel Vendors Budgets / Accruals Projections Allocations Assigned Staff Opposing Parties Client Contacts Courts Business Units Docketing Contract Obligations Registrations Group Meetings All law dept. dates

  4. Mitratech TeamConnect & CLMS www.mitratech.com Highly flexible Toolkit oriented for maximum configuration Enables complex business rules Excellent financial management tool Matter Management Leaders

  5. Mitratech TeamConnect & CLMS LT Online Lawtrac www.lawtrac.com Excellent collaboration tool Very responsive customer service Flexible system Solid workflow components www.mitratech.com Highly flexible Toolkit oriented for maximum configuration Enables complex business rules Excellent financial management tool Matter Management Leaders

  6. Mitratech TeamConnect & CLMS LT Online Lawtrac Corprasoft Legal Desktop www.lawtrac.com Excellent collaboration tool Very responsive customer service Flexible system Solid workflow components www.corprasoft.com Configurable without programming Most mature web based product Strong Microsoft partnership www.mitratech.com Highly flexible Toolkit oriented for maximum configuration Enables complex business rules Excellent financial management tool Matter Management Leaders

  7. Mitratech TeamConnect & CLMS LT Online Lawtrac Corprasoft Legal Desktop Bridgeway eCounsel www.lawtrac.com Excellent collaboration tool Very responsive customer service Flexible system Solid workflow components www.corprasoft.com Configurable without programming Most mature web based product Strong Microsoft partnership www.bridge-way.com Configurable without programming Excellent ease of use format Integrates with Corporate Secretary product Strong eBilling components www.mitratech.com Highly flexible Toolkit oriented for maximum configuration Enables complex business rules Excellent financial management tool Matter Management Leaders

  8. Case & Point Computer Law Systems EAG Law Base Law Manager Legal Files Legal Edge ProLaw Serengeti Law Tripoint Other Matter Management Players

  9. CUT COSTS Establish approved O/C based on cost analysis Identify vendor billing errors via automated invoice auditing and approval Secure prompt payment discounts via improved billing procedures Key Benefits of Matter Mgmt

  10. CUT COSTS REDUCE RISK Identify case trends Make & justify decisions based on analysis of trends Identify areas of preventive law Provide centralized date and document repository Establish approved O/C based on cost analysis Identify vendor billing errors via automated invoice auditing and approval Secure prompt payment discounts via improved billing procedures Key Benefits of Matter Mgmt

  11. CUT COSTS REDUCE RISK IMPROVE EFFICIENCY Identify case trends Make & justify decisions based on analysis of trends Identify areas of preventive law Provide centralized date and document repository Reduce invoice processing time Improve service to clients Automate redundant tasks (invoice approval; document creation)Share the burden (internal & external collaboration) Establish approved O/C based on cost analysis Identify vendor billing errors via automated invoice auditing and approval Secure prompt payment discounts via improved billing procedures Key Benefits of Matter Mgmt

  12. Matter Management Case Study • American subsidiary of German company • Matter management Project Initiatives • To create a centralized legal organization • Legal professionals are dispersed between 2 locations • To provide higher quality legal services to six separate operating groups at law firm rates • To develop a process for analyzing and improving results

  13. Case Study Continued • Implementation of Initiatives • Secure, web based access for all legal professionals • Accomplished secure collaboration between locations • Matter type specific configurations • Enabled unique use of the system by each functional area

  14. Case Study Continued • Implementation of Initiatives continued… • Centralized database • Allowed for streamlined reporting and analysis of data • Improved efficiency / accuracy in delivery service to clients • Implementation of eBilling • Reduced data entry time • Provided ability to more granularly analyze billing data

  15. QUESTIONS ABOUT MATTER MANAGEMENT SYSTEM USES AND/OR BENEFITS?

  16. Other Case Studies • Pharmaceutical Company • Energy Company • Food Service Company

  17. Manage Corporate Records STRUCTURE POSITIONS ACTIONS DATES Defining Entity Management Organizational Charts Entity Ownership Jurisdictional Incorporations and Qualifications Directors / Officers Committees Historical & Current Some Executive Compensation Bylaws Annual Meetings Securities Jurisdictional Registrations Filings Corporate Meetings Elected / Retired Dates All corporate dates

  18. Bridgeway Secretariat www.bridge-way.com Only provider with integrated entity and matter management systems Excellent ease of use features Most mature US product Entity Management Leaders

  19. Datacare Global CorporateManager Bridgeway Secretariat www.data-care.com Most efficient in global entity management Large blue chip client base Fully web based Very robust functionality www.bridge-way.com Only provider with integrated entity and matter management systems Excellent ease of use features Most mature US product Entity Management Leaders

  20. Datacare Global CorporateManager Transcentive World Records Bridgeway Secretariat www.data-care.com Most efficient in global entity management Large blue chip client base Fully web based Very robust functionality www.worldrecordsonline.com Strong in equity plan administration Combines stock option and entity management www.bridge-way.com Only provider with integrated entity and matter management systems Excellent ease of use features Most mature US product Entity Management Leaders

  21. CUT COSTS Decrease time spent repeating tasks Free valuable resources for other tasks Create / Protect integrity of corporate data Key Benefits of Entity Mgmt

  22. CUT COSTS CORPORATE COMPLIANCE More accurate, centralized data Sarbanes-Oxley & other securities features Management of jurisdictional registrations Decrease time spent repeating tasks Free valuable resources for other tasks Create / Protect integrity of corporate data Key Benefits of Entity Mgmt

  23. CUT COSTS CORPORATE COMPLIANCE IMPROVE EFFICIENCY More accurate, centralized data Sarbanes-Oxley & other securities features Management of jurisdictional registrations Quick search of corporate history / current information Print screens, exports to other programs & valuable reports Automate redundant tasks (global retire; document creation)Share the burden - internal collaboration Decrease time spent repeating tasks Free valuable resources for other tasks Create / Protect integrity of corporate data Key Benefits of Entity Mgmt

  24. 1 • Develop a project team • Get the users involved To the USERS • 2 • Evaluate the “Now” • 5 • Conduct systematic ranking of products • 3 • Document department requirements • 4 • Evaluate products against requirements “Selling” a System Internally User Involvement Text Text

  25. Evaluating the “Now” Documenting Requirements These comments from your interviews become requirements for the system. Priorities help you rank the requirements.

  26. Evaluating the “Now” Collecting Existing Documents Collect tools users currently utilize in a documents binder for reference during implementation.

  27. Evaluating Products Weighted Product Ranking Grid

  28. 2 • Evaluate the “Now” • 3 • Document department requirements • 4 • Evaluate products against requirements • 5 • Conduct systematic ranking of products “Selling” a System Internally To MANAGEMENT • Do your homework! • Compile your data • Current issues • Requirements • Evaluation criteria • Ranking • Cost / Benefit analysis • How long for it to pay for itself?

  29. Questions? Contact info: Office: 281-812-8381 Email: pjsimpson@simpsonneelygroup.com

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