Document Management Software

docpoint.biz has posted an interesting article about the importance of legal document management software.

“By some estimates, more than 90 percent of the cost of a lawsuit today can come from sorting through e-mails and other electronic documents to determine which ones are relevant to the case…”

An effective legal document management software solution can help to set up a system to immediately tag, categorize and archive corporate (and other) documents for easy retrieval in case of any legal problems.

Today’s lawsuits can involve millions of documents, so obviously, having an efficient system for all company documents can be a huge time saver when it comes to providing evidence or clearing your company of wrongdoing.

Considering that lawsuits and lawyers fees can be in the millions of dollars, the cost of setting up a legal document management system for your business is an investment and preventative measure you cannot afford not to make.

Using a records management system that indexes all of the text in documents can save thousands of hours and can be located in minutes in the event that they are needed.

“ARMA co-sponsored a study last year that found that one in four American companies does not have a system for organizing electronic documents”.

Setting up a system will help companies know exactly what documents they should keep and for how long in case they are needed in legal preceeding, and which ones are safe to get rid of.

http://www.blog.docpoint.biz/2008/07/13/emails-can-cost-you-money-ask-your-lawyer/