| | NOVEMBER 20208CIOReviewLaw firms rely on two critical processes when taking on new clients. The first is the error-free clearance of any client conflicts, and the second is a thorough intake of new clients and matters into firms' systems. For new clients, if any disputes are identified or anticipated, the firm needs to obtain needed clearance from existing clients. These can be waivers for ethical issues or consents for client relations. This is a fairly complex process, as it requires efficient and timely communication and coordination between multiple lawyers. Further, the absorption of new clients and matters has to be useful and comprehensive and includes addressing KYC, AML and other risk issues. A large number of data points have to be gathered and effectively integrated into the firm's financial, marketing, contracts, information security and document management systems. In the past, conflicts and new business intake (CNBI) have been linear & siloed processes with tasks completed manually and sequentially; and with all cross-communications happening entirely through email. As a result, this process remained quite routine and fragmented. Recent firm developments prompted us to take a fresh look at this procedure and led to the realization that CNBI can be a strategic first point in the revenue cycle, as also a way to gather vital information which can have positive implications later in the matter lifecycle. Contemporaneous with our new thinking, we found that leading vendors were offering integrated software solutions on state-of-the-art technology platforms. By Madhav Srinivasan, Chief Financial Officer, Hunton Andrews Kurth LLPAUTOMATING A LINEAR PROCESS TOWARDS MULTI-DIMENSIONALITY IN MY OPINION
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