Corporate paralegals must keep careful track of their day. Distractions mean losing targets, and failed system updates can result in days of deleted work.
For paralegals, bonuses rely on meeting targets, which is how they demonstrate their value to the firm. That means keeping track of daily tasks and their successful completion is a critical part of the job.
Corporate database and entity management systems give paralegals a way to organize their daily tasks and ensure work is completed without disruption from unexpected complications.
The Importance of Database Management for a Paralegal’s Day
The database that a paralegal uses has a huge impact on their day-to-day experience within the firm. Accounting for everyday needs is easier with the use of database management software. These systems can make a paralegal’s day more productive when they work well. On the other hand, a poorly functioning system can create problems that impact vital operations and keep important work from being done.
The major pain points of a corporate Paralegal’s day revolve around issues easily addressed by better database management. Paralegals use corporate databases tools to help ease workloads and reinforce good practices. Entity management software provides a system for the full lifecycle of business entities, including the role of paralegals.
5 Benefits of Good Database Software
Entity management software is a crucial part of a paralegal’s job, and can even be a part of their decision to work at a specific law firm.
Entity management systems give paralegals access to file management tools and simplified workflows so they can provide reliable service to clients and partners.
Paralegals are passionate about the database management tools they use because their quality of life largely depends on how well they can manage workloads. Outdated software can quickly ruin a paralegal’s day, making it vital for law firms to invest in better entity management software for their teams.
1. Quick access for everybody
There’s a lot of stress involved in database management. It can be difficult for paralegals that have to keep track of records. Thousands of paper documents can be used within a firm, and these records have to be kept for long periods, filed, and stored based on legal requirements.
It’s easy for documents to get misplaced, damaged, or destroyed. It’s a paralegal’s job to track these transactions, and any lost items are their responsibility.
The use of virtual documents provides paralegals with the means to reliably keep track of minute books, signatures, and other important records. Virtual management ensures paralegals can keep track of all varieties of important materials, allowing them to focus on other essential tasks.
2. Simplified Workflows
Good database software is integral to a paralegal’s workflow. The complexity of operations and differing management structures mean corporate paralegals have a diverse range of tools to work with.
Entity management software provides a centralized source for assigning tasks and notifications, to-do lists, and checklists to help everyone stay on track, giving them the use of compliance tools to build teams across the firm.
It also provides integrations with many other software tools, creating simplified workflows, improved profitability, and productivity across the firm.
3. Save Time and Money
Paralegals provide value with procedural methodologies that allow for transactional maintenance and review of physical documents. That might mean going to remote locations for firms that don’t use database management tools.
Slow systems make it difficult for paralegals to complete work and leads to downtime, and downtime increases costs.
Entity management systems bring improved profitability a quick click away by helping corporate paralegals understand attainable costs and work more productively. Firms can benefit from cost-efficient operations that save them time.
4. Accurate and Reproducible
Annual compliance and yearly resolutions to approve legal decisions and create audits are one of a corporate paralegal’s most important roles. Financial and legal records and documents must be in good standing within the corporate world. This can mean errors if information changes, negatively impacting operations.
For corporate paralegals, documentation is simplified by automated generation. Good database software allows paralegals to create, share, and review documents with real-time tracking, ensuring they are standardized and free of errors.
5. Better Partnerships
Transactions require coordination among paralegals, lawyers, clients, and other interests. This means that there are a lot of moving parts.
Any problems arising from manual document management mean a poor client experience. Directors, officers, and other shareholders all require accurate and up-to-date information.
The use of document signing software means everything is more flexible and easier to track for corporate paralegals. A single unified database allows entities to work across national boundaries. Virtual minute books can be downloaded and shared, allowing firms to build better partnerships.
Athennian Empowers Paralegals with Digital Entity Management
If you’re a corporate lawyer considering buying entity management software for your team, Athennian makes it easier for your paralegals to get their work done. Athennian provides cloud tools for law firms and in-house legal teams.
Transactions are simply better with Athennian. Our entity management software improves profitability by saving paralegals time and energy so they can spend their billable hours elsewhere.
If you’re a corporate lawyer that appreciates the paralegals on your team, we’re here to empower you.
Speak to a digital entity management expert today for your free demo!