Enterprise legal management (ELM) software solutions were created to manage legal documents, contracts and workflows in legal departments and law firms. They were the answer to a call – mostly from executive management and boards – for greater transparency and accountability from legal departments in large corporations. Nowadays, solutions such as DiliTrust Governance can handle everything your legal department requires.
How DiliTrust Governance Fits In With Traditional ELM Definitions
“DiliTrust Governance was designed by lawyers for lawyers”, according to Kintxo Freiss, Sales Engineer for DiliTrust Canada. Specifically, it was designed to be an all-in-one platform for any legal department to store, access, and share files securely and reliably, while cutting down or eliminating paper, and increase the productivity of your legal department. The software solution was designed to integrate collaboration at its core in multiple languages. It provides a comprehensive view on the lifecycle of all of your contracts, and allows you to easily manage or monitor your subsidiaries and shareholders.
Security is optimized by storing your data on secure professional servers with the ability to set access rights for each user according to your own internal policies. Your data remains your property and is always readily accessible.
The Gartner Magic Quadrant describes five separate areas that ELM software must address. These are:
- Matter Management
- Financial/Spend Management
- Legal Document Management
- Business Process Management
Matter management is covered by the Litigation module of the DiliTrust Governance platform, where all litigation in process across company holdings can be accessed quickly by lawyers who are directly responsible for each case. You can get an instant overview of all legal entities in your company and automate generation of fact sheets on each matter. You also have full traceability of any historical event, transaction and login dates for each legal entity.
Each legal activity, according to Mr. Freiss, has a financial aspect attached to it. The financial and spend management component of DiliTrust Governance is one of the solution’s key strengths. With contracts, for example, the platform will let you know any applicable deadlines, amounts assigned to each contract, and the sources of your cash flow. Real estate holdings, lease values and terms, and property valuations are easily visible, as are intellectual property (IP) values, and which patents are required to be renewed to retain your IP in multiple countries.
Budgeting for litigation is also simple, and a legal department head is able to accurately forecast the cost of current matters in litigation. The dashboards in DiliTrust Governance provide the ability to drill down into each matter, asset, or contract so you can see the exact cost or value associated with each. You can set up alerts to show upcoming contract deadlines, expiring real estate leases or patents coming up for renewal – all of which allow you to stay on top of even the most complex holdings.
Reports can be automatically generated for and tailored to executives and lawyers, your financial department, or board members. These reports contain both graphics and data to illustrate the required information, saving valuable staff time in creating these reports. Reports may also be generated for external organizations such as consulting firms.
Legal Document Management
Managing legal files is the core function of DiliTrust Governance. Files are organized and stored according to your company’s desired structure, and housed securely with many layers of data protection. A very granular access can be put in place to restrict lawyers to specific files, while larger access can be granted to legal department heads for a full view of day-to-day operations. DiliTrust Governance is an ideal solution for any size of organization with a need to securely manage legal files, real estate holdings, subsidiaries, and more. It is a simple solution for complex storage and legal department management needs.
Business Process Management
DiliTrust Governance is unique from other solutions in that it can be customized according to your organizational workflows, rather than asking you to change your processes. For example, when you are preparing a contract and negotiating the various stages of that contract, it will have to move through and be revised by a number of stakeholders. DiliTrust Governance can set this process up with the level of complexity that you need, such as having the contract flow to multiple executives, then to a final point person for revision, and then to the client. E-signatures can be used at all stages, or you can require that an original signature be affixed. The processes are completely up to you, no matter how complex they are.
DiliTrust Governance is laser-focused on managing legal matters. As it is primarily used by legal departments, it does not have a pure e-billing component. This is usually handled by other dedicated solutions.
Ideal for any Legal Business departement of big and mid-sized companies
DiliTrust Governance is typically used by large corporations around the world, but can be an ideal solution for mid-sized businesses which have a large number of contracts, holdings, and subsidiaries to manage, or which work primarily in the legal sector. It is also ideal for companies doing business internationally.
DiliTrust Governance was created by lawyers for lawyers, and that’s what make us unique. It is focused on supporting legal departments, corporate secretaries, boards of directors and senior management, and is purpose-built to streamline your legal department and make it more efficient.