5 Ways Litigation Management System (LMS) Help edges in Dealing With N…

Litigation and Legal Management Systems are designed to help edges and financial institutions by automating their recovery processes and seamlessly accessing legal information about borrowers, NPA accounts, bank’s recovery etc. LMS is used to manage and automate all the legal proceedings in edges. It is responsible for issuing notices to defaulters, reminding court hearing, managing lawyer fee and other expenses, maintaining database of situations, generating reports and more.

Unlike few years ago when edges were reluctant in adopting LMS and its capabilities, need for such software has increased considerably. Here are the top 5 ways how an ideal Litigation Management Software can help edges in NPA recovery.

5 Ways Litigation Management System (LMS) help edges in dealing with NPA

1. Case hearing date management

Attending to the deadlines is the meaningful in any profession and already the legal personnel must to comply with them without fail. A lawyer who handles the case of NPAs in a bank might also have numerous other lawsuits to take care of. Remembering the hearing dates of multiple situations often becomes monotonous for the lawyers. Litigation Management Software effortlessly stores the important dates and also sends reminders for the same in improvement, on emails/texts etc.

2. Centralised case tracking

The lawyers handling loan recovery situations have an information overload of hearing dates, case summary, past history of hearings etc. They must have access to all of this data instantaneously. For this, they need their data in a single place. A good Litigation Management System secures all the information at a centralised repository that is easy to access in only a few clicks.

3. Case expense management

Legal professionals have to manage all expenses incurred manually, and if not proven properly, it can rule to confusion and mismanaged budgets. A comprehensive LMS can record and authenticate all expenses incurred in the court/case easily and generate detailed reports on the allocated budget, expenditure and limitations.

4. Effective communication

For lawyers, staying up-to-date with the case details is basic. They cannot provide to miss out on any information about the case that can assistance the edges. LMS bridges the gap between other departments and the legal department by promoting quick actions e.g. issuing of new notices etc. It encourages better utilisation of time and efforts at the right place.

5. easy to reach (anytime, anywhere)

Lawyers can access all information about their situations in the courtroom or at home, having a basic internet connection and a device. As most LMS today works online, it empowers the bank lawyers to work anywhere in far away areas or metros while accessing all applicable case data on-the-go.

To know more about how Litigation Management Systems work,

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