Business Process Management (BPM) for legal industry

The significant role of BPM in law firms, legal institutions, consultants and internal legal departments.

In the previous post about Solving CFO Concerns with BPM, we demonstrated that implementing technology solutions is the key to success of Accounting and Finance departments in any organization. In this post, we will elaborate as to why the legal industry cannot survive without BPM and how BPM affects law offices.

The legal sector seems to be conservative and backward from an IT standpoint. Due to the digital transformation in every industry today, law firms to face downward pricing pressure from clients demanding affordable legal services. This in turn is forcing law firms to adopt new methods of running business that are different than ever before, emphasizing on efficiency, relative enhancing loss prevention and the reduction of time and money.

Consequently, BPM is a major tool helping the legal industry in general and law firms in particular to fundamentally transform their business, automate processes, overtake competitors and accelerate growth. 

Here are key benefits that a law firm can gain from applying BPM:

·        Streamline legal, business processes with workflow. All information retrieval and distribution

·        Legal case management workflows

·        Monitor status of workflow

·        Store all case related documents, contracts, taxes and easily find whenever you need

·        Complete instance audit trail

·        Easy connect to 3^rd party data sources and services.

·        Speed and ease of launching new legal products and services.

·        Route and review documents as well as previous legal case throughout the organization that happened long time ago

·        Improve security systems and control access

·        Boost profits through substantial efficiency gains and enforce loss prevention.

·        Extensibility of the legal service platform

·        Implementation of knowledge management systems to capture and allow re-use of work

· Saving time and money by automating the entire process from seeking partners and clients to signing contracts, Law firms and departments can cope with the overload of operations that are required to handle cases and general operations. BPM is the indispensable tool for law firms to support cases, attract new clients and maintain revenues.

Above are just brief explanations proving the vital role of BPM in law firms, legal institutions, consultants and internal legal departments. Contact us if you need any further information.

Website: http://www.informdecisions.com/

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