Protecting Your Practice With Law Practice

Management SoftwarePresented by:LexisNexis

http://www.lexisnexis.com

Minimizing Mistakes With Law Practice Management Softwaren Mistakes can easily happen in a

legal setting.

n Oftentimes these mistakes occur because of a moment of carelessness or a small error.

n A good law practice management software can help minimize these mistakes, but it’s important to have the right application for your practice.

Sources Of Liabilityn There are three major sources of malpractice

liability.

n These are mismanagement of trust funds, noncompliance to court rules and mistakes in documents.

n These can be as simple as a missed court deadline or a misplaced comma.

n Although these mistakes might seem minor, they can mean an expensive or drawn out court battle and long term repercussions.

Sources Of Liabilityn Streamlining operations can usually lead to errors.

n If an attorney takes an existing document and attempts to repurpose it for a new client, one missed detail can invalidate the document.

n This can be as simple as neglecting to change ‘he’ to ‘she.’

n This seemingly small mistake can invalidate the document.

How Law Practice Management Software Can Help

n Law practice management software helps avoid these mistakes.

n A calendar application can ensure that everyone knows of important deadlines, but also that they manage their time wisely.

n Law accounting software manages trust funds and alerts users to potential non-compliance dangers.

n A document generation application can guide attorneys through new documents, eliminating the error risk from recycling documents.

Why Law Specific Software?n Some firms may be tempted to

repurpose general bookkeeping software.

n This is a bad idea because a dedicated law accounting software has features specifically designed to deal with issues related to trust accounting.

n Using a business bookkeeping service does not provide the same level of protection as an industry-specific product.

Improving Documentationn Law practice management software centralizes

documentation and simplifies data recovery, backup and protection.

n Thing such as calendars, client contact information, trust accounting history and more is tracked, saved and guarded more effectively than it would be with paper or a generic application.

n Every attorney can receive access to this information quickly.

n Because everyone works off one centralized information source, they all have access to the same information.

Improving Communication

n Law accounting software can enhance client communication.

n Reports can be generated with just a click which means it’s easy to ensure that both attorney and client are on the same page.

n Less miscommunication means better client service and less chance that a liability issue comes up later on.

Affordable Law Practice Management Software

n Law practice management software used to be just for very large firms.

n New, affordable and effective applications are available for practices of any size.

n Every firm can invest in tools such as law accounting software so they can serve their clients better, run their practice more efficiently and protect themselves from liability.

About LexisNexis

n LexisNexis is a leading provider of content-enabled workflow solutions designed specifically for professionals in the legal, risk management, corporate, government, law enforcement, accounting and academic markets.

n The company can customize its products for legal accounting, client management and complete firm management for clients of all sizes.