How managing risk can improve outcomes
Inefficiencies steal time, add costs, sap energy, slow processes and demotivate talent. They also create risk. Reducing this risk for in-house legal departments and your wider business can be a positive force, creating real advantages through more productive and streamlined ways of working. We can combine your data with ours and, together with market intelligence, use AI tools to identify problems and opportunities that otherwise couldn’t be spotted.
When legal data is centralized, codified and organized, it becomes possible to manage obligations, identify trends, anticipate upcoming or unseen issues and increase efficiencies. Legal departments (can) act with more certainty, achieve efficiencies and remove barriers to progress and future development.
Risk hides in plain sight
Working collaboratively, we can examine cause and effect, assess the dangers and apply remedies. We use a systematic and disciplined approach to risk management in our own business to test ideas to benefit your organization. It’s a process of continuous examination with the aid of financial and operational metrics, leading to matter performance improvements, cost and time savings and the elimination of unwanted surprises. As a proactive approach, it has set us apart from and ahead of other law firms and is available to benefit you and your business.
Benefits come out into the open
Our legal project management tools reduce risk by ensuring efficiency and cost-effectiveness. State-of-the-art dashboards with key performance indicators, such as budget versus actual spend, allow you to track activities in real time so there are no surprises. Issues can be proactivity identified and managed. Reports can be customized to fit your needs – out-of-scope work, for example, is easily identified. Our legal project managers will work with you to define your requirements and the outputs required for your business.
Through ouRSiteTM, Reed Smith Global Solutions’ award-winning case and matter management extranet, documents, tasks, events and other related information can be shared with clients and other outside parties to speed up and synchronize communication. Human errors can be reduced as processes are simplified and automated. This standardization builds confidence as potential problems can be identified much earlier. New legal technologies become more accessible through our proven incubation process, there’s better communication, deeper collaboration and risk is lowered.
With over 500 people globally, Reed Smith Global Solutions makes it possible for in-house legal departments and their wider businesses to reduce risk by exploring and taking advantage of improved transparency and predictability.
Please contact one of the Reed Smith team below to learn more.