Introduction: The advent of information technology made revolutionary changes in the world. He also played a significant role in the expansion and advancement of law firms for nearly two decades. He has changed the paradigm of the legal sector by highlighting the need for change and the technology that empowers employees to make change possible with cost professionals and lawyers working together.
Current system: At present, masses of legal organizations send their files to cost drafters for cost invoices. Cost writers then extract information from the files and prepare a detailed evaluation of the cost lists. The entire process is time consuming and costly for the client organization.
Effect on current system: Software technology by the advent of the IT industry assists in legal cost bill preparation by providing an easy to use summary and comprehensive bill with all assessments free of charge.. The technology will help divide cost lists into three main parts that include stages, tasks and activities. In the stages section, the assessment of the case, the suggestions and guidelines, the appeal and provisional requests, the disclosure, the bases of the trial and the detailed assessment will be recorded. In the task part, a synopsis including cost and payment will be prepared. In the last section, detail the preparations for the individual activity of the lawyer while the case is in court. Every section must be focused on including a precise level of detail, correct format and cost invoice. If all this is recorded well, it will help prepare expense budgets, cost reports and, most importantly, the electronic invoicing that today is highly demanded by corporate clients.
Record time of an example: The time record with the current process system method includes the date, the activity, the amount of time, the name of the person earning the fee. But under the new technology software development, you need to add in the process such as date, phase, task, activity, amount of time, name of the person who earns the fee. Apparently, this is a small but important difference, since it would allow the temporary element to be directly linked to the new format of the expense list.
Is the cost budget adjusted?:As mentioned above, the detailed cost incurred in a case broken down into a series of steps mentioned above and this system will help in multitasking cost breakdowns in short cases. This will help initiate and store the cost budget electronically which is ultimately monitored and compared to the actual cost in real time using the new system. Take advantage of the “time” element of the case that will never be negotiated. Combining electronic time recording with electronic budgeting will make work efficient, less costly and time-saving. By this combination or registration, it will help the organization to make complex case reports in a very short time, since the database for the time registration and the budget will be the same database. The software systems will have correct reporting tools with the help of this summary and the detailed information will be extracted as per the demand of the case and the customer as well. The commonly used application like Microsoft Excel is widely available but it is not good enough to format and store large amounts of data and compare them in real time.
Combinatorial Professional law firm costs together:- The cost expert must study and recognize the necessary change in time recording and law firms must ensure that time is recorded in the correct format. This change will be a difficult task as it will require attorneys to completely change the method in which they currently register. Those professionals who take initiative steps for this change will surely be prepared for the transformation of the future.
The future role of the cost professional: Currently, when preparing an invoice for costs, the professional usually creates a manual sheet for the case file. The previous system of bills of expenses implanted in the professional part will be changing from the traditional one to new reforms. The new reforms will have a professional cost that will electronically transfer the data from the time record to the cost file of the organization.
Conclution: In short, a change will be required in each instance. Lawyers must value whoever takes the initiative to use the new technology system. Technological changes in the legal sector should not be underestimated either. The organization must evaluate its current systems of operation, its potential and then evaluate the changes that are needed.