Entity management software helps law firms manage entities, build and manage complex org charts, and track deadlines in a single location. Without an entity management solution, law firms may be exposed to unnecessary errors and risks caused by outdated and manual processes. Ultimately, entity management software can help you better manage legal entities and compliance regulations for both yours and your clients’ businesses.
Although software is a powerful alternative to spreadsheets and the complications and bottlenecks they create, it’s not always clear where and how technology can create value across the firm. And it’s difficult to justify the investment in a new tool when you can’t easily identify use cases for how your team can practically use a tech solution to streamline processes, boost productivity, and ultimately reduce costs.
Read ahead to learn how each team member in your law firm can use entity management software to create efficiencies that positively impact your bottom line.
General Counsel
In-house lawyers use EntityKeeper to support their corporate secretary functions, manage the board of directors, and reduce legal risk. Corporate legal departments can create dynamic org charts of the entire company to report to senior leadership and the board of directors. And with a cloud-based solution, they will always have the most current version available.
EntityKeeper Feature: Custom Org Chart Builder
Paralegals
EntityKeeper helps both corporate and law firm paralegals track organizational documents, filing deadlines, and ownership changes for all legal entities. Entity management software’s centralized repository simplifies managing and filing corporate records and documents. With software, paralegals can accomplish their daily tasks in less time, giving them the ability to assist with other value-add activities.
EntityKeeper Feature: Unlimited Document Storage
Business Lawyers
Business lawyers are challenged to track and meet filing deadlines for their clients’ legal entities. Juggling multiple entities’ and deadlines can be cumbersome without the right infrastructure. Entity management software centralizes documentation and enables automated alerts to help your team meet (and stay ahead of) every filing due date.
EntityKeeper Feature: Automated Tracking and Notifications
Finance Professionals
Financial teams use software to model deal structures, assemble due diligence materials, and track important deadlines. Because finance teams have access to sensitive financial documents and data for both the firm and its clients, it’s important to have secure storage. With software, finance teams can control user access on an individual level for enhanced protection of sensitive financial data.
EntityKeeper Feature: Centralized Database
Compliance Professionals
Entity management software’s reporting functionality allows compliance officers to visualize all filing requirements and deadlines in one single location. The platform allows compliance professionals to track all compliance requirements among every jurisdiction.
EntityKeeper Feature: Automated Tracking and Notifications
3 Tasks Your Law Firm Can Automate with Entity Management Software
Now that you understand how entity management software can benefit each of the roles in your firm, let’s dive into how you can use it to automate tasks throughout the firm. Managing legal entities can be complicated – especially when you’re responsible for dozens or even hundreds of them. An entity management solution like EntityKeeper can automate error-prone manual tasks that impact productivity and waste time and money.
EntityKeeper can help your firm automate several tasks including:
- Managing compliance deadline notifications and alerts
- Creating and maintaining complex org charts
- Collecting and storing documents and data
When your law firm has the right technology, team members can more effectively perform their jobs (and ultimately reduce impacts on the bottom line). This means that your firm has more time to dedicate to other activities and to better serve its clients.
Get Started With EntityKeeper’s
EntityKeeper reduces manual errors and increases security when it comes to your corporate data. Ready to track entities and streamline entity data across your organization? Get started with EntityKeeper today or request a demo to see the solution in action.
