Document Control Issues

Myth

Current, in place procedures for the handling and filing of documents will address the needs of clients and represent an efficient use of resources.

Fact

Handling and filing documents inefficiently will negatively impact client relations, productivity and the bottom line.

VB Solution

Advanced “at your fingertips” control will apply from the outset to active cases as well as historical records in perpetuity in the archived case control.

How a professional law firm controls its incoming and outgoing correspondence has a tremendous impact on a firm’s ability to perform in an efficient fashion for their clients. That control forms a fundamental part of the firm’s relationship with its clients and can impact profitability in a radical way. Law firms that best manage the massive paper handling process that is fundamental to the practice of law are better prepared to provide the best to their clients at a more competitive rate.

Our FIRM MANAGEMENT SOLUTION links all documents and correspondence, incoming and outgoing, to a specific case and simplifies every aspect of case management. It allows a stress free, client centered, practice control regardless of the size of your firm. This provides a value-added service and creates an “at your fingertips” dynamic between clients, the lawyer and every member of the legal team.

The FIRM MANAGEMENT SOLUTION automatically names files and prompts system users to provide a short description for documents and correspondence. All files are automatically saved in a standard format. The retrieval, edit and review of files is as simple as clicking the documents link. The solution centralizes document location and does provide access to all members of the practice team.

The Disbursement Recovery Solution

Myth

The recovery of disbursements provides a significant contribution to covering overhead.

Fact

Staffing costs and forced compliance negates returns recovered through disbursements.

VB Solution

The average wage for a legal secretary in Canada is ~$0.50 per minute. The time required to type in a code to record a photo or laser printer copy then export the data for billing by yet another staff member clearly dictates that you have actually lost money on the tracking and recovery of each such $0.50 recoverable disbursement.

The pressure to enhance cash flow has placed undue emphasis on disbursement recovery, specifically in the areas of photocopies, laser printing, faxes and phone calls. These are all areas where legal office suppliers like Copitrack, Equitrac and Phone Track provide systems and have created an illusion of success as forced compliance requires that a code be entered in order to follow-through on repetitive daily tasks.

While these systems capture the data, they do not address time inefficiency as they both ignore the demand on both lawyer and support staff resources. This is the largest single expense incurred in the management of a law firm. In reality, in most firms, more money is spent in staff time tracking the information than is actually recovered.

Our FIRM MANAGEMENT SOLUTION integrates disbursement tracking directly into the case file and allows for the effortless recording of disbursements without entering codes or other tracking references. Because it is so easy to use, compliance is natural at the user level. It initiates a team approach to financial performance, leading to ever increased recovery of disbursements. This also includes areas where forced compliance has not been previously available such as courier charges, postage, filing, etc.

The FIRM MANAGEMENT SOLUTION decreases overhead costs associated with the recovery of disbursements and reflects positively on the bottom line.

The Client Trust Fund Solution

Myth

New regulatory reporting requirements in the management of client trust funds will increase public confidence and make it easier for lawyers to comply.

Fact

Self-reporting in the handling of client funds will result in increased responsibilities and management issues.

VB Solution

The ever increasing demands for trust security in handling of client funds, along with regulatory reporting requirements, has created a major management issue for all practicing lawyers.

Our FIRM MANAGEMENT SOLUTION provides audit proof, time tested control over this critical area, including the most up to date reporting and tracking solutions. This case driven approach provides a firm-wide client overview, which removes financial uncertainty and risk entirely from the management of the client file.

The Internet Security Solution

Myth

Network vulnerabilities resulting from connection to the Internet are not preventable; compromised security is a factual reality.

Fact

Internet accessibility, and its associated advantages, is possible without compromising network security.

VB Solution

Ensuring internet access is coupled with the peace of mind of internal document security is a primary concern for today’s office.

The FIRM MANAGEMENT SOLUTION secures critical firm information from unauthorized access while providing the flexibility and advantages of Internet access. The diagram below outlines the network set-up when the FIRM MANAGEMENT SOLUTION is installed.

The Automated Time Tracking Solution

Myth

Accurate time-tracking is an inefficient use of time and is best left until it is absolutely necessary. Estimated time is enough for clients.

Fact

Inaccurate time tracking severely impacts the lawyer-client relationship. Automated, real-time tracking can be a natural extension of the work being completed.

VB Solution

Every minute that slips by unrecorded is lost revenue.

The basic fundamentals of business financial success are to increase revenues and reduce expenses. In a law practice the revenue line is the tracking of fees, as the lawyer’s time is the only thing you have to sell.

In interviews, lawyers repeatedly acknowledge that they do not track their time as accurately as they would like because present systems require extra steps not actually related to doing legal work for the client.

The FIRM MANAGEMENT SOLUTION is the first system in the marketplace that allows lawyers to track their time as a natural extension of the chargeable work that they do on their files in order to recover 100% of their chargeable fees- in real time.

The Billing Solution

Myth

The billing process deteriorates the lawyer-client relationship.

Fact

If done properly, client billing can be a welcome and valuable communication tool.

VB Solution

When the client receives a non descriptive bill relating to the fees incurred it is often questioned by clients and can impact unfavourably on the lawyer – client relationship.

The efficiency gap that exists between time tracked and time spent dictates that the vital billing process tends to be done after the fact and recreated from memory, if at all. The net effect of this is that time is missed, forgotten and billing rationalization comes in to play.

The FIRM MANAGEMENT SOLUTION allows you to enter and record a description associated with each time transaction. This results in value-added billing where your client has an itemized list of all timed tasks associated to their case file. Billing-ready files eliminate the monthly “billing crunch” and enable a more efficient use of staff resources.