Legal Trust Accounting

Matter Management
In house teams need a single source of truth to act as system of records.  All the legal request and matters grouped by client or practice area helps team members to find the documents, emails, and associated contracts in one screen.  ContractPrime in-house matter management software gives general counsel visibility on the workload and brings transparency into the legal work.  Compliance is validated by the security so only authorized users can access matter information.

Contract Management
Legal team needs software to draft, negotiate, approve, and store contracts.   contract management software offers complete CLM solution.  Identify key critical dates like renewals to send notification so that organization is always compliant for contractual obligations.  Contract assembly can be used as self-service tool for generating standard contracts like NDA or SLA.  Small business contract solution provides contract workflow solution with out of box document templates, approval steps and digital signature integration.  AI powered search will extract keywords and clauses from documents.

External Law Firm Management
Invite external attorneys to work on the matter.  Share documents, contracts, and cases to outside counsel.  Assign, track and escalate tasks on matter level.  Avoid sharing documents through email and recommend coauthoring of documents in the cloud environment.

Spend Management
Assign budgets to the legal department and track the legal expenses on matter, external firm, or practice area level.  ContractPrime legal spend management software allows timekeepers to submit their timesheets, expenses, and invoices.  Request for additional budget through financial business workflow customized by the governance team.  Generate reports to identify the effectiveness of the external law firms.

Software with training and change management can bring true digital transformation in legal departments.

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