The legal field is yet another industry going through significant disruption, change and innovation as law firms move from legacy workflow processes to software and cloud-based solutions that will enhance their ability to get work done in the 21st century. This is particularly true for large law firms or legal divisions for corporate entities. These days everything from legal research to attorney marketing is performed at a higher level with digital tools and cloud-based solutions that help lawyers, partners, firms, legal divisions, advocates and legal organizations perform tasks easier, better and more accurately. The impact that digital technology has had on the legal industry cannot be overstated, however, all of the complexity in law and information remains an issue for firms and individuals working with large volumes of data across multiple entities or sources. For legal professionals who need to centralize operations across these complex structures and information volumes, entity/asset management software like EntityKeeper can help.
Data-Driven Solutions in the Legal Field are a Must
Law.com, a resource for lawyers, explained that big data solutions for attorneys in the digital age was inevitable considering that the profession has always needed to analyze large amounts of data. If there is one field where complexity meets volume in terms of information and structure, it is the legal profession. On a constant hunt for answers, insight, truth, and organization, lawyers need to evaluate and asses complex and large volumes of information within structures, sometimes very quickly, for their clients or firm.
These days, in the era of big data, all organizations need to be a bit data-driven at their core. For legal professionals, there is no question. Much of the disruption and innovation in this field comes from a demand from attorneys to consolidate, integrate and centralize operations, structure, and information. This could include many different types of data including property data, client personal data, case law, court filings, regulatory information, firm data, case tracking, financial data and more. Attorneys using legacy spreadsheets or software with poor navigation or user interface design clearly want better solutions designed for the heavy lifting of big data and complex organization. EntityKeeper is a unique legal entity management software that will be useful for any legal professional dealing with multiple organizations or managing complex financial or ownership data. Centralize the data and manage it across entities using EntityKeeper software.
Software Solutions Innovating the Field of Law
Bernard Marr, a Forbes Contributor said the legal system generates mass amounts of data and the amount seems to be growing in scope and complexity. Each new court case of the roughly 350,000 in the United States each year increases the overall scope of legal precedence an attorney needs to understand to work in the profession. Rulings, legislation, interpretations, witness statements, court logs, hearings, sentences and judicial summaries are just some of the aspects involved with legal complexity. Working with legal entities also presents interesting challenges for attorneys and firms charged with managing aspects of child organizations’ compliance, risk and governance, also known as GCR. GCR impacts large organizations uniquely and attorneys need to understand the complexities in the law as well as the organizational structures they are responsible for. Having access to a centralized dashboard containing this information helps legal professionals navigate the complexity in structure and information necessary to protect those assets.
Governance, Compliance and Risk Management for Attorneys, Firms and Legal Divisions
Governance, compliance and risk, or GCR, is a fundamental issue for any organization of significant size, scope or means. Creating a system to deal with the issues surrounding GCR as it relates to assets, policies, procedures, protocol and performance is a demand long overdue for many legal professionals struggling to keep up with the demands of their clients, firms or corporate divisions. Enterprise legal divisions are in a uniquely volatile situation in terms of complexity, so their ability to internally collaborate and do that safely and securely is crucial. EntityKeeper’s software allows to your organization to manage permissions and work in a secure, encrypted cloud network so you can distribute access credentials that allow legal professionals to access the information they need quickly. Legal teams can more quickly, accurately and efficiently ensure compliance and governance as well as ensure risks are being mitigated across assets. Attorneys can customize dashboards to view and analyze information with enhanced data visualization tools that allow for more insight on risk or compliance issues. Keep regulatory issues and related data organized and share it with key stakeholders to create sound legal strategy and response to regulators in a variety of industries.
Increasing Pressure and Demands for Legal Efficiency
As Law Technology Today has pointed out in an article, the increasing pressure from clients to perform legal tasks more efficiently for cost and performance in the era of big data has created a storm of interest in data management and centralization solutions. This is particularly an issue for legal professionals and law firms dealing with several clients or managing legal affairs across a client’s portfolio that might contain multiple legal entities across one parent (or even several parent) organization(s). Legal divisions in large corporate structures also deal with complexity at the organizational level and face pressure from the top down to create more efficiencies all while mitigating as much risk as possible and ensuring compliance with rules, regulations, policies, etc. Financial data alone can be a complex maze when considering multiple legal entities, partnerships, etc. The solutions from EntityKeeper can help ease the burden of these pressures by way of improved workflow, accurate and insightful analysis, enhanced data flow, centralized management of tasks across all organizational structures, improved collaboration in a safe and secure environment and much more.
Try EntityKeeper Software to Improve Efficiency in Tasks Across Structures
EntityKeeper’s robust platform and features will benefit any legal professional managing large volumes of complex data sets and needs a way to both to visualize the data for insight and centralize tasks across organizational structures, whether for a firm’s or attorney’s clients or for a large enterprise legal division representing the interests of its parent company. Use the software to improve the bottom line, stay compliant across legal entities and collaborate on strategy. Give EntityKeeper a try and learn why the software is a much-needed addition to the arsenal of any legal professional working on information across complex or multiple legal/financial structures.