A common challenge for many organisation’s legal department is the inability to pull together reports quickly to review cases and their status.
- Because of manual reporting processes in place, professionals are pulled away from more important tasks to focus on gathering data while valuable time and productivity is lost.
- Too much dependence on the people instead of process
- Similar matters being dealt in different ways & styles at different locations in the same organization.
Most of the legal departments of companies today use manual, paper-based systems to document, track and manage notices and case data. All case data is then logged in an Excel spreadsheet for general statistical reporting of notices and cases, wasting time and increasing the probability of human error.
Lack of Transparency and the predictability of legal spend, resource usage, and budgets lead to financial impacts and can cause serious injury to the fund position of the company.
The primary reasons for missing a legal deadline can be:
- High number of legal issues & compliances spread across multi-locations and multi-people having their own inconsistent practices
- Focus is on Business operations
Loosing case due to insufficient & lack of timely information. Insufficient and delayed information due to lack of an efficient IT solution in place can be one of the greatest contributor in losing a case.
Scattered data leads to zero control over the status of litigations and cause of Lot of confusion and stress
- Implications of litigations can result in prosecutions against the top executives even though he or she is not responsible.
- Reputational damage associated with loss is very high and irreparable. It can even lead to shut down of businesses
- Penalties and costs by different Agencies
In majority of cases CEO / Board decides some legal action has to be taken, in the absence of proper documentation the matter gets forgotten or remains solely in the minutes