White Paper MATTERSPHERE MANAGING THE DOCUMENT LIFECYCLE

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1 White Paper MATTERSPHERE MANAGING THE DOCUMENT LIFECYCLE

2 MANAGING THE DOCUMENT LIFECYCLE Whether you call it document management, document management system (DMS), enterprise content management (ECM), content management, or knowledge management, it often all comes down to the same thing: a solution focused on controlling document files and easing accessibility to file contents. In general, most document management applications are focused on methods that ease the creation, distribution, searching, and archiving of documents. Other document management systems go a step beyond these general tasks. For instance, systems that exist within a unified matter management environment serve to dissolve the walls between siloed data, easing the task of uncovering and using desired information. There are any number of reasons why businesses turn to electronic document management solutions. For many, the sheer volume of documents and content lurking on shared and stand-alone drives, , and mobile devices never mind the paper files can be overwhelming. Productivity, compliance, and customer responsiveness is at risk in the face of this content avalanche. In addition, the inability to easily access and identify content can lead to opportunities lost due to the inability to share knowledge, collaborate, and improve business processes. A 2011 study by the Association for Information and Image Management reported that businesses struggle with content chaos and solutions for managing documents in the following areas: The time they spent per day filing and maintaining existing information, or searching for new information, averages to be around 37 minutes, or 8% of the working day. Search fatigue is also considered a significant long-term problem. Accounting for the follow-on benefits of making better decisions and not re-inventing content, productivity of professional staff could be improved by 30% if they could find internal information and documents as quickly and as easily as they find information on the Internet. On average, it is estimated that changing to a culture of electroniconly filing reduces office space allocated to filing storage from 14.5% to 5.9%, which is a 60% reduction 1. A similar study undertaken by the Gartner Group found that knowledge workers spend about eight hours a week on manual document management tasks. Trouble spots identified within a manual document management system included: Documents were hard to find. Content was hard to manipulate and repurpose. Documents were hard to update. Documents were hard to share. Content was hard to publish consistently. Document creation was an ad hoc process. Document review was an ad hoc process. The importance of a document s content was not obvious. Paper-based distribution and storage was costly in terms of storage, copying, and printing. Paper-based archiving was expensive to maintain and inefficient for retrieval 2. It was estimated that a firm could save at least half of the time and money spent on manual document management by implementing an automated document management system, when compared to manual document management. A manual document management system also brings with it attendant difficulties, such as cases lost due to searches gone awry and deadlines missed. There are also less quantifiable factors, such as the increased stress and frustration for those conducting the searches. One answer to these document management challenges is to use an overarching document management solution. A comprehensive document management system, such as the one provided in MatterSphere from Thomson Reuters Elite, does the following: Provides a uniform way of managing, accessing, and sharing documents. Shifts the informational assets from individually owned files to a central firm-wide storage and distribution location. Manages a range of document types through the document lifecycle, from creation to storage. Allows simultaneous access and sharing for current or archived documents, with version management for each. Allows the firm to monitor, audit, and regulate document access and use. When a well-implemented DMS is thoroughly integrated into the business of conducting business, concrete benefits accrue. Storage and overhead costs for searching and retrieving documents are reduced. Less paper is used, and duplication decreases. When document search and retrieval is more efficient, employees including lawyers are more productive. Security of information is more assured when documents are in a centralized configuration. Workflow and routing becomes electronic, leading to faster processes and prompt response rates. Finally, the ability for employees and lawyers to work together electronically, no matter where they are located whether the other side of the globe or simply on a different floor of the building helps build a collaborative work environment. Consider the possible savings involved in implementing and using an automated DMS, just for lawyers alone. According to the studies quoted above, the average time to access and retrieve documents in a hard-copy environment is 37 minutes a day, while the average time to access and retrieve documents after automation is half this time. Assuming the average fee earn rate is $200 per hour, the annual cost of using an automated DMS could be up to $12,000 annually for a single lawyer. All these advantages benefit your firm s bottom line. 1 AIIM 2012, Capitalizing on Content: A Compelling ROI for Change. 2 Logan, Debra, Document Management: Assessing costs and Benefits, Gartner, Inc.,

3 MATTERSPHERE S DMS DOCUMENTS, S, AND MORE MatterSphere s DMS module is an integral part of the MatterSphere package and is not a stand-alone application. Designed specifically to enhance the workflow in your organization, the module allows you to: Handle a wide range of common file types documents (.doc/.docx, PDF, RTF), spreadsheets (Excel ), images (TIFF, JPG, PICT, PNG, etc.), as well as s from Outlook. Save all file types and s against matters. Use a one-click feature that allows you to Save or Save As any document into Microsoft Office. Access the Web and mobile capabilities available within the Thomson Reuters Elite framework. The unique strength of MatterSphere s DMS module is that it is embedded directly into your front-office working environment. MatterSphere is the first truly intuitive and integrated front-office system for legal and professional services firms. Since matter-related information is organized within Office applications, all actions, documents, and s can be easily initiated and accessed directly within the familiar interfaces of Outlook, Word, and Excel. A system of electronic file folders emulates the physical file drawers containing all matter details. Thus, MatterSphere brings familiar manila file management to the world of distributed data, multiple applications, electronic documents, and . The MatterSphere DMS module also includes full version control, check-in/check-out/lock options, capabilities to preview and compare documents, and advanced security features, and easily accesses all of MatterSphere s powerful matter-focused functionalities. It is also Unicode compliant, and able to handle multilingual files. DOCUMENT MANAGEMENT EMBEDDED IN MICROSOFT OFFICE According to a recent McKinsey Global Institute report, most professionals spend 28 hours a week or up to 80 percent of their online time working with documents and 3. The job of a document management solution is to minimize time spent searching for and filing documents and s so legal professionals can make better use of their time and expertise. To be effective and efficient, a document management system needs to tie in closely with the applications lawyers depend on for their daily online work needs. The MatterSphere DMS is directly embedded into Microsoft Office, the suite most used by legal and professional services firms. New users, faced with the familiar Microsoft environment, experience a short learning curve, and the firm can leverage its existing investment in the Microsoft platform. With the integrated DMS module in MatterSphere, users can view and create letters, contracts, , and more from within the familiar Microsoft environment. SAVING DOCUMENTS WITHIN MATTERSPHERE The creation, management, and storage of documents are pivotal activities in a modern law firm. The MatterSphere Document Management and Save process is embedded within Microsoft Office. A user simply needs to select the Save or Save As functions of MS Word, Outlook, or Excel to initiate the MatterSphere save. MatterSphere provides comprehensive matter-centric document management capabilities including: Saves all documents against matters and exposes them in a simple searchable format. A dialogue box allows for matter profiling for manual saves, though the process can be automated with Auto Save functions. Documents search capability at business unit, file, and contact level. Searches documents on any part of the document description as well as to, from, type, or date properties. Previews Microsoft Word documents and Outlook s directly from within the matter-centric view. Displays all other document types in their native applications. Prevents documents from being deleted by users once saved matter-centrically. Includes revision management, document versioning, and check-in/check-out features in addition to the standard document actions available within Microsoft Office. Displays document properties to show details of all activity. Supports advanced collaborative features. Enables password protection at client, matter, and document level. Multiple file types can be stored and retrieved within the MatterSphere Document Management System, including Word, Excel, Outlook, and PDF. 3 McKinsey Global Institute, The social economy: Unlocking value and productivity through social technology, July

4 MANAGEMENT MADE EASY MatterSphere s DMS module allows you to profile your incoming and outgoing within the same window, saving a simple file to a matter within a matter-centric storage. MatterSphere also offers contact-level centricity, making MatterSphere and MatterSphere DMS truly omni-centric. For instance, attachments can be saved against client and/or matter. s and their attachments are then accessible to all users with proper permissions. The Management component of MatterSphere DMS is easy to configure and easy to use. SINGLE MATTER FILE EASES INFORMATION RECOVERY MatterSphere has a central repository that presents an organized view of all client and matter information in one place. The matter file screen has one-click access to information and processes and display tables and fields to view information in ways that suit the matter or the user. Eases the task of document and management, allowing users to access all files pertaining to a matter from a single database. MatterSphere provides a central location of all client and matter documents in one location. The sidebar provides instant access to information and processes. 3

5 TRACK THE ENTIRE DOCUMENT LIFECYCLE From the moment you create a document or using the MatterSphere DMS, you are able to share, track, view, search, and control the file through all its versions throughout the entire process, all in a secure environment. (a) View document properties easily using the information sidebar and the top tabs. You can view the history of a file, see who has changed it and when, and refer to earlier versions as desired. (b) Clicking on the Versions tab allows you to proceed with different levels of version and assures detailed version control. FULL-TEXT INDEX AND SEARCH CAPABILITIES Full indexing and text searching capabilities allows searching across all documents, utilizing Microsoft Search Server components. The Full Text Indexer feature within MatterSphere lets you conduct a system-wide search for any given term or name across all clients, matters, contacts, and documents. The search generates a thorough Results List, which automatically categorizes results according to the terms included in the initial search. A complete search of the system will present categorized filter groups as well as related links such as Author, allowing you to quickly navigate to the desired term or information. Precedents, which can be generated directly from the Results List, can also be included in searches. 4

6 SCANNING BRINGS PAPERLESS OFFICE CLOSER TO REALITY Users can scan hard copy documents and letters, saving them in the MatterSphere DMS. The resultant electronic file can then be assigned to a specific matter or a user and easily shared with other people and offices. The physical document can be sent to long-term storage or, business rules permitting, straight to confidential shredding. It s one step closer to creating a greener, paperless office environment. COLLABORATE FROM ANY LOCATION AT ANY TIME WITH MATTERSPHERE ANYWHERE The power of MatterSphere Anywhere makes collaboration on Web and mobile platforms an anytime proposition. You can set permissions on the MatterSphere Web module to give clients and external collaborators access to files, allowing them to upload and download as needed for complete and seamless teamwork environment. THE POWER OF MATTERSPHERE MAKES IT MORE THAN JUST A DMS Other Matter Management add-on modules are also available within MatterSphere. MatterSphere unifies firm-wide information within the Microsoft Office environment, resulting in a DMS that is far more powerful than just document management. From client/ matter management, to workflow and process management, contact management, and central data storage: MatterSphere does it all, from document creation to management, review, and follow-up. By automating and managing processes, not just documents, MatterSphere offers you access to tools that handle all normal legal processes such as tasks, appointment management, file reviews, time entries, new matter processes, matter closures, approvals, and re-allocations. MatterSphere comes equipped with standard workflow modules, or you can develop custom workflows to suit your firm s requirements. CENTRALIZED DATA TIES ALL PROCESSES TOGETHER INCLUDING DOCUMENT CREATION With one central contact base, there s never any worry about contact data being out-of-date in one place and up-to-date somewhere else. You define the contacts: they can be clients and related parties such as judges, barristers, opposing counsel, witnesses, other related parties, and even matter data. Having all the contact information in one place means reduced information siloes and fewer data entry points. This database is available to all the MatterSphere processes, including document automation. With the document automation module, you create documents with the assurance that you have access to the most up-to-date contact data, client data, matter data, and appropriate precedents within your firm. A centrally managed corporate style, down to fee-earner level, ensures the proper use of letterheads, memos, telephone in and out, files, and meeting notes. MANAGE MATTER AND DOCUMENT WORKFLOWS WITH A SINGLE SOLUTION: MATTERSPHERE MatterSphere manages the flow of structured information, automates processes and tasks, and tracks staff performance and profitability. The solution helps you collect required reporting information and meet deadlines. It also assists with billing processes, by making it easy to record and manage time and disbursements within MatterSphere itself or within Enterprise or 3E. Since the MatterSphere user interface appears inside commonly used Microsoft applications, implementation is easy, user acceptance is fast, and training requirements are minimal, leading to increased productivity for the user and the firm 4. With the MatterSphere DMS module, you get a full-featured, Unicodecompliant document management system that handles documents from creation to completion, in a fully secure environment. Save and view any file type including Word documents, s, images, spreadsheets, computer-aided design drawings, PDFs, and more. All the functionality of MatterSphere is included, including document automation and workflow and the power of Web and mobile capabilities with MatterSphere Anywhere. Find out what a DMS can really be and what it can bring to you and your firm. Contact Thomson Reuters Elite to find out more about MatterSphere and MatterSphere s Document Management System module. 4 For more information about MatterSphere s task management and workflow features, see the Thomson Reuters Elite white paper Managing Taskflow in the Legal Environment. MatterSphere_Taskflow_wpW US3-13.pdf One click provides access to processes and pulls it all together Thomson Reuters W US/10-13