Efficient management of your claim and litigation workload is critical for delivering expected results and reducing exposure to risk, but also for reducing/controlling outside legal costs– a key challenge for in-house lawyers according to 2019 Future Ready Lawyer Survey from Wolters Kluwer.
Collaboration with internal departments and outside counsel can help you manage a growing workload, control legal costs, and protect your firm from litigation risks. Here are 5 simple ways to facilitate collaboration with your key stakeholders to improve claims and litigation management.
- Adopt a central repository
By centralising documents and information, you can import and recall critical information (reducing the administrative burden!) and export and email documents among internal/ external parties. You and your colleagues can easily access and retrieve information- minimising the gaps in communication; making sure requests from the business are attended to quickly and accurately.
- Implement a secure portal for colleagues
By having a cloud-based portal, you and your colleagues will be able to share documents and information in a secure environment and access them from anywhere, anytime. You can set access rights to make sure confidential information does not go to the hands of unauthorised people.
On the portal, you can build an action plan for each of claim/ litigation with tasks defined and assigned to responsible colleagues. This way, everyone has a clear idea of their role and their responsibilities. As the portal is updated in real-time it will be easier to monitor the claim/ litigation status- see who is responsible for tasks and the next steps. This way, not only do you gain latest insights into outstanding claims/litigation but you also ensure all tasks are carried out in due time.
- Grant access to outside counsel
- Improve performance with smart tools
By implementing a reporting tool you can track performance and calculate your risks. When identifying and assessing risks becomes easier, this helps you mitigate them proactively and make accurate forecasts for future claims and litigation.
- Tracking financials
Streamlining processes to collaborate with internal departments and outside counsel leads to higher efficiency and productivity levels that will eventually result in better outcomes. Through collaboration, you can improve claim and litigation management, and mitigate risks to protect your business against financial and reputational losses.
Struggling to rise to the expectations of the CEO and the Board? Our whitepaper “Driving value by facilitating better collaboration across the business” explores ways to facilitate collaboration between departments to optimise contract, entity and claim/litigation management. Download your free copy here!