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Enterprise Legal Management
During the past 30 years, corporate legal departments made the move from paper case files, word processing documents, and Excel spreadsheets to what is now the industry standard: enterprise legal management (ELM) solutions that enable efficient and cost-effective control of matters, documents, contracts, and outside legal counsel. As a result, the function of legal departments has shifted from primarily managing legal matters and costs to acting as revenue generators that provide information and analytics valuable to the entire company. This article offers a primer about the primary components of ELM.
Components
The optimal ELM solution encompasses matter, document and spend management; legal hold; reporting; and analytics.
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