“When You’re Backed Against the Wall, Break the Goddamn Wall.”

                                                                                         – Harvey Spectre

 

    From competitive markets to rising client requirements, the legal industry has seen it all over the past few years. From solo practitioners to biglaws and legal enterprises, everyone is evolving with the market conditions.

    However, between these thin lines litigation management departments at large enterprises are facing numerous challenges, especially now when the global market seems to collapse. Juggling between the market opportunities and legal operations at a law firm, enterprise litigation management departments tend to face challenges that are worth discussing about.

    Drawing a clear picture, let’s figure out what challenges enterprise litigation management departments are facing.

    Shrinking Client Requirements

    When the market shrinks it leaves law firms puzzled on how to survive between the hardships. First major challenge in our list rises here. When global finance shrinks down to dust, clients start looking for service providers with low-cost legal services. In this race of cost cutting, the enterprises and biglaws are the first who gets affected.

    Thomson Reuters reported in Q2 2022, overall average legal industry demand fell by 0.5% in comparison to Q2 2021. Corporate demand fell by 0.7% and M&A fell by 4.9% over the same period.

    Rising Inflation

    Due to uncertain market conditions and rising inflation in decisive economies, the legal markets are also getting affected. This creates a gap impacting supply and demand. Biglaws offer premium services at a high-end cost. And clients usually start avoiding such plans.

    Inflation not only affects the supply-demand, but it also makes things worse unlike: Layoffs.

    Warning: Information Overload

    A recent report by Gartner stated that most law firms misplace 50% of their information & data. Approximately, 80% of the IP is stored or communicated via email. This is a problem that maximum litigators struggle with.

    Imagine searching for an old case file from huge piles of data. Lawyers usually store data in piles of documents and later mess things up, especially when they forget where they saved their documents. This leaves litigation attorneys to fight a case without adequate data.

    Lengthy Timelines

    Litigation cases take time, you know it, we know it, but unfortunately not the clients. Most clients lack the patience to withstand the attorney until the case ends. A litigation case usually takes three years to resolve or a few more. 

    But unlike any problem, this can be solved in easy terms. Starting with clear communication can be a wise option. Keep your client updated about case progress and real-time updates.  

    Challenging Litigation Management 

    A harsh truth to digest, but yes it is! A hearing is a critical ground where making a slight mistake could offer an advantage to your opposing counsel to crack you down. And that’s the reason why practice management is a challenging task for litigators.

    Litigation Management Departments in an Enterprise face various challenges while offering legal services and practicing litigation. We tried covering some major challenges in the legal industry. MatterSuite offers a strong litigation management solution helping thousands of law firms to succeed legal practices. If you really find such challenges, you’re at the right place.