│ Software review & digital law firm best practice tips by Chuck Henrich │
A good cloud-based practice management system enables small to mid-size law firms and solo practitioners to run their practices efficiently and with business intelligence. Moving legal practice management to the cloud especially suits small to mid-size firms and individuals who lack the time, money, skills (and interest) to manage their own IT themselves.
When selecting a cloud-based legal practice management solution, lawyers need to assess how well a vendor understands how to support digital legal services; simplifies the tasks involved in digitally managing clients, matters, finances, and documents; and handles data security. InvestCEE selected Matters.Cloud to feature on their LegalTech Marketplace because it meets those requirements especially for the smaller firms in their legal innovation ecosystem.
Editor’s note: Matters.Cloud have asked InvestCEE to prepare a detailed overview of their cloud-based legal practice management solution. This Part 1 (below) and Part 2 (to be released on July 28) of the Matters.Cloud software review series was prepared by InvestCEE consultant Chuck Henrich. All opinions reflected below are his own. InvestCEE software reviews focus only on legal technology vendors and products that we believe demonstrate quality, thoughtfulness, responsiveness, and legal innovation.
Business functions of legal practice management systems
Law firms are businesses. Successful lawyers and firms manage their practices and generate profits with streamlined, repeatable processes. This article highlights how Matters.Cloud can help solo practitioners or smaller legal teams operate as a digital law firm and achieve greater efficiency and profitability across all the key business functions in every law practice:
- client and matter management, workflow mapping and tracking with templates, timelines, milestones, tasks, reminders, commitments
- finance and time recording
- document management
- business intelligence about client and matter status, resource allocation, and profitability
- managing business development and converting opportunities to revenue-generating matters
- security and resilience.