The legal industry has been slower to adopt technological advances such as data analytics or big data. This is partly because the sector tends to be risk-averse – but data is critical to fast and informed decision-making.
Real-time data can be used to give clients up to the minute information about any matter under review or being considered. Lawyers often find that they need to reference documents, research laws or statutes and other relevant information very quickly.
With real-time data, this process is much faster and easier than with older methods of searching through documents. Real-time databases also speed up document review and make sure that everything relevant is included in the process.
What is a real-time database?
Real-time databases are digital systems that collect, analyse, and display information, and create those records based on the information users provide. This is a contrast to traditional databases that are “real-time” only in the sense that they provide data as it’s being created.
A real-time database provides continuous data storage and retrieval, making it an essential part of modern law practice. They’re useful for managing data, managing complex litigation cases, and conducting research.
These databases are the best way to handle complex cases and scanning large amounts of data to help you solve your clients’ legal issues faster. They make it easier for lawyers to do their jobs, and are especially important for law firms that handle a lot of complex cases.
Reduce time spent on research and document retrieval
A real-time database can be used to save time when researching and retrieving information. For example, you can include a document retrieval feature, making it possible to search for documents by keyword. The system can then pull all relevant documents into the system as they’re being requested.
Alternatively, you can set up search filters to pull in only certain types of documents, such as only ones relevant to your case. This way, you’re only retrieving relevant information, cutting down on time spent on research.
The amount of time spent on research and document retrieval depends on the lawyer, but it can be significantly reduced when using a real-time database.
Real-time databases are also useful for automating certain processes within a law firm. For example, you could set up a document processing feature, allowing you to automatically create new documents or convert old ones into PDFs. This can save time when handling certain types of documents and even help reduce the risk of errors.
With real-time data, you can create a new version of the document, removing errors so the documents are not affected by a small issue.
Real-time databases are an ideal way of automating certain processes within a law firm, particularly in areas such as document processing and case management. This can help cut down on the time spent on certain tasks, such as research and document retrieval, while also improving efficiency.
With a real-time database, you can get immediate insights into your business operations. If you have a critical data issue, you can prioritize the resolution based on how many people are affected by the issue.
Some real-time databases allow you to check up on specific items, like case files or client information, so you can stay on top of what’s going on with them, as well as the progress of projects, case files. or other team activities.
They also allow you to get an overview of your team’s activities, making it easier to manage your operations and stay on top of what’s going on.
Real-time databases are also an effective way of improving efficiency within a law firm.
This can be achieved by setting up filters to separate relevant information from the non-relevant. For example, you can set up filters to pull only documents relevant to your case.
If you have a data entry task that is particularly time-consuming, you can automate it to save time. You can also use automation to streamline your case management process, allowing you to spend less time on data entry while maintaining the same level of accuracy.
Real-time databases can also help you manage your operations more efficiently. For example, you can set up notifications that alert you when certain data has been accessed, allowing you to take action right away.
Faster, smarter decision-making
Real-time data can help you make smarter decisions. This can speed things up when you find relevant information in a matter’s file system or in CRM apps. They also allow you to spot trends and patterns; for example, if you have data about your team’s performance, you can identify areas for improvement and make adjustments to improve the team’s overall performance.
Searching a matter’s file system is often time-consuming, and requires you to browse folders to find what you’re looking for. Having to browse through folders is often tedious and may take a long time.
Get the right solution for your law firm
Data and the rapid analysis of it is critical to big businesses – law firms foremost among them. A real-time database can help your firm stay up-to-date, increase efficiency, and find better insights into your operations.
The database specialists at Everconnect can set you on the path to scale your firm up and better manage your systems with a real-time database.