How Firms Benefit From Time Efficient Technology Solutions | MinuteBox Cloud Entity Management

How Firms Benefit From Time Efficient Technology Solutions

Paralegal teams are the secret weapon of any law firm. Paralegals, or law clerks, are often tasked with some of the most important assignments to build a winning case for a firm, which include any or all of the following:

  • Case planning and development

  • Fact finding and legal precedent research

  • Drafting correspondences among all parties

  • Scheduling court dates or negotiation meetings

  • Documentation of minute books and meeting records

  • Coordinating conference calls with clients

  • Analysis and summarization of legal findings

  • Fact checking any notes from opposing counsel

The common skill necessary to execute each of these tasks efficiently is time management. For professionals in all backgrounds, time management is how individuals use available hours in a given work day to complete required tasks as efficiently as possible.

What time management means to a paralegal

Paralegals define time management similarly to other professions, but they measure success in different ways. A time efficient paralegal judges the success of his or her efforts through two key metrics: greater client satisfaction and contributions to Legal Recurring Revenue for the firm.

Time efficient paralegals form outstanding client relationships

The first way to measure the success of a paralegal’s time management skills is the net effect on the relationship with the client. Interpersonal client relationships are vital to a firm’s ability to retain satisfied customers as well as to grow the size of the business.

How does a paralegal establish positive interpersonal relationships with clients? Customer satisfaction is achieved by appealing to and assisting with the unique needs of your clients. Fulfilling those needs requires paralegals to speak the language of their clients and to understand what clients expect from the firm.

Case in point: 77 percent of business owners want to be able to access files remotely. The convenience of using technology to review minute books, corporate records, and other important documentation from the convenience of any location has become more important than ever for business leaders everywhere. Paralegals that understand this expectation and have the ability to provide that service have much greater potential to sustain long-lasting, and lucrative relationships with clients.

Time efficient paralegals have more time to support the firm’s growth

Paralegals with excellent time management skills are more likely to help build a particular case faster and more efficiently. As a result, these paralegal champions will have more working hours in the day to source or prospect new companies with the potential to become valuable new clients for the firm.

Here’s another interesting statistic: professionals spend nearly half of their days searching for information. In fact, it can take up to 18 minutes to find one document or minute book record when those files are stored in paper format. Due to the amount of paperwork a firm produces for each individual case, it’s no surprise that sorting through those files takes up a sizable amount of a clerk’s time.

What if there was a better way to sort through and manage all of these records? If clerks didn’t have to physically go through each file, they could dedicate more time towards growing Legal Recurring Revenue for the firm. On top of that, more efficient ways to comb through all of those records means clients get their answers much faster, thereby improving client satisfaction.

Entity management software is the time management solution you’ve been looking for

So what is the best way your firm can empower your paralegal team with efficient solutions that will help them manage their own time effectively? The answer lies within entity management software, which vastly accelerates corporate recordkeeping management to help paralegals earn back more of their own time.

Entity management software allows paralegals to centralize all minute book records and manage subsidiaries to support all client needs. Platforms like MinuteBox offer no-code document assembly, meaning firms no longer require extensive IT teams to manage digital corporate records. Instead, enterprise grade scanning services are built directly into the platform’s core capabilities, enabling paralegals to upload all minute book records within a matter of minutes.

Entity management software also allows paralegals to maintain and manage up to date shareholder ledgers with speed and proficiency. Any transactions between a client and their shareholders are immediately documented using a series of pre-built fields to track the date, time, value, and recipient of a shareholder transaction. This allows all parties with access to the shareholder ledger to remain up to date on the current financial status of the company.

On top of all of these benefits, platforms like MinuteBox help law firms position themselves as modern, innovative, and effective providers of quality customer service. Each of these traits help establish and cement a firm’s brand reputation, which is all the more valuable when prospecting new companies with the potential to become lifelong clients.

Are you ready to help your paralegal team become the most time efficient group of professionals in the industry? Join the MinuteBox revolution so that your paralegals become the best time efficient managers in the business and contribute to the future growth of your firm.