A key part of corporate counsel’s responsibility is to ensure that when called upon, they can find relevant documentation fast. As such, proper management of digital documents is of great importance to any corporate legal department. Complete access to all potentially relevant information makes Legal more productive and efficient. Having the ability to find relevant documents boosts legal confidence.
To achieve these goals, legal departments look to legal document management software (Legal DMS). Having a reliable Legal DMS means in-house counsel can be sure they can find all the relevant information.
Finding the right Legal DMS can be a challenge, with plenty of options to choose from. In this article, you’ll find an outline of what to look for, what to consider, and what to keep in mind when selecting a Legal DMS.
What is legal document management software?
The benefits of Legal Document Management Software
What to look for when purchasing legal document management software
Innovations in legal document management software
Legal Document Management Software is a software tool that allows in-house counsel to organize, store, and access digitized legal documents. Moreover, it provides users with the ability to search those documents. By using advanced search tools, they can rest assured that the search results are complete. This sets Legal DMS apart from storage solutions.
Storage solutions, such as Microsoft OneDrive, Google Drive, Dropbox, File Servers, etc., do no more than hold files. When document security is the only consideration, no more may be required. A Legal DMS does more than hold files in place. It allows users to track metadata and redact information for privacy. It can also make otherwise non-searchable documents searchable. It can also help reduce digital debris as part of an information governance policy.
In essence, a Legal DMS helps create legal confidence by assuring that all relevant legal documents will be found whenever needed. At the same time, it helps reduce liability by enabling compliance and providing structure to a data environment that tends to be chaotic.
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During the selection process for a Legal DMS, many solutions advertise different features. Although every organization will have specific needs and wants from a tool, a few considerations stand out. They include:
Legal professionals have a reputation for being slow technology adopters. As such, finding the most cutting-edge experimental solution out there may not sit atop the list of priorities. Not all innovation is created equally, however. Some trends in the Legal DMS space from other areas, such as eDiscovery solutions. These are battle-tested features that can improve the performance of a Legal DMS and inspire more legal confidence. They include:
At its core, a Legal Document Management System can provide in-house counsel peace of mind. Through advanced searches, a Legal DMS provides comprehensive results faster. This allows more time for a thorough review. It makes compliance less of a headache by keeping track of metadata and retention deadlines. New ways of creating searchability in documents help reduce the risk of missing relevant information.
In terms of finding a solution, finding the right balance between functionality, security, and operating speed is key.