Matter management refers to the activities relating to managing legal work. It encompasses many sub practices within it, including contract management and document management. Matter management is the process by which a legal firm gathers data, tracks and assigns its work. And this includes all legal services including budgeting and invoicing. A “matter” is defined broadly. It can be a simple legal task, or a more broad, complex legal project. The purpose of matter management is to provide a more organised, collaborative, interconnected administrative and logistical basis from which a legal firm can function.

In the United Kingdom there is an estimated £5.2 billion of debt remaining uncollected by local authorities. Of course because of the impact of the COVID-19 pandemic, this figure is likely to rise. A ‘single customer view’ of debtors is a powerful way for government agencies and local authorities to collect debt in a fair, productive and efficient manner. And when combined with innovative omnichannel text and email communications, the collections process is expedited and streamlined for all parties.

Leveraging the power of Artificial Intelligence (AI) in rent recovery operations is the most intelligent, cost-effective and productive process available. AI can act as a vital bridge between organisations and debtors. Here we outline the top five ways that AI is transforming the rent recovery process for landlords, local authorities and government agencies.

Did you know that almost 75% of all CRM projects fail? The reason for this high failure rate is most often down to poor user adoption. So here we outline some top tips to ensure the CRM you invest in is implemented successfully.

The truth is a solid Customer Relationship Manager (CRM) has never been more important. The ideal CRM should improve productivity, whilst also creating a stronger relationships with customers. When implemented correctly it can be an incredibly powerful asset.

What is Single Customer View?

A single customer view refers to the process of bringing together all the associated data that you have about one customer, and consolidating into a single record. When it is used to refer to debt recovery or debt collection it can also be called a ‘Single View of Debt’, a ‘360 Degree View’, or a ‘Unified View’. For government agencies, local councils or businesses who face the logistical challenges of complex data sets, multiple databases, and large amounts of outstanding debt, the process of consolidating and organising a customer’s whole debt portfolio can be incredibly useful.

Taking a digital approach to debt collection is becoming more mainstream across the world. By harnessing the powers of software which is powered by Artificial Intelligence (AI) and Machine Learning (ML), the overall debt collections performance can be improved, and creditors and customers alike reap rewards. Here we outline the top five ways debt collection uses AI and machine learning.

Powering a single view of debt is the most innovative and useful way to optimise the collections process. Here we outline the many benefits of this strategic approach to collection management.

Lateral is thrilled to announce its new partnership with Crawley Borough Council, who will be adopting Lateral’s leading collections platform which unifies all debt streams associated one with customer into a single view of debt.

Developing successful Customer Relationship Management (CRM) software is a vital requirement for large and growing enterprises operating in today’s competitive marketplace. According to Gartner, the global CRM market is predicted to grow at 13.7 percent Compound Annual Growth Rate (CAGR) by 2021. And in the next few years artificial intelligence is certainly set to play an increasingly vital role in the context of CRMs. Here we outline the top five ways you can leverage the power of AI to enhance your CRM.

CRM software (customer relationship management software), empowers businesses track, record manage customer interactions in a single system. A CRM is designed to store interactions between a business, its prospects, and its existing customers. It also manages and eases communications, through the concise live data it provides its users with. Lateral’s industry-leading CRM is undoubtedly the most innovative, flexible and robust product on the market. And here we will outline what the Lateral difference consists of. The strengths of Lateral’s software is proof positive that our award-winning CRM can help accelerate the growth of businesses of all sizes, through Lateral’s smart decision making processes, and powerful automation tools.

CRM stands for Customer Relationship Management Software. In recent years CRMs have evolved and developed at a rapid pace. And today CRMs allow businesses of all sizes to reap better rewards in terms of profits and long term growth. CRMs can improve customer service, increase sales, provide businesses with improved analytics and also increase business efficiency. But what are the best practices to adopt in order to get the most out of your CRM? Here Lateral offers up some tips.

Chasing customers to collect payments you’re owed used to be a laborious task. The labour costs of communicating with debtors via dialling, sending letters and emails, was both time-consuming and expensive. But with the rise of live chats, chatbots and related messaging tools, the debt collection process has been considerably advanced. And chatbots are beginning to entirely revolutionise the collections process.

During a pandemic cash flow management is critical and is the key to your success and longevity as a business. As they say, “cash is king”, but during this recent COVID-19 pandemic, many businesses have experienced testing times. Late payments have become commonplace and cash is often in short supply. So here are some vital tips to help strengthen the cash flow of your business during these testing times.

Matter management is practices which manage legal work. It encompasses document management and contract management as well as several other sub-practices. Matter Management software works by gathering, tracking, assigning and reporting on legal matters. As well as producing budgets and invoices. Matters can be incredibly complex, or they can be simple tasks. Either way, matter management software can bring great efficiencies to any law firm. But making the wrong choice can be costly. Here are some top tips to help you make the perfect choice for your firm.

Going paperless is a great way to transform efficiencies at your law firm, and many law firms, attorneys, solicitors and other legal professionals hope to become empowered digitally. In line with the Government’s £1bn 7-year reform programme to modernise the courts and tribunals system, many law firms are deciding now is the time to make purposeful steps towards becoming truly paperless themselves. Here we outline five simple steps to help you achieve paperless status.

As COVID-19 gripped the world, significant restrictions were put in place which limited landlord’s ability to collect rent on their properties. But these restrictions can’t last forever. So what options are available in terms of long-term rent recovery, and how can the power of software be leveraged to make this process more successful and cost effective?

During a time of crisis debt collections software can provide a lifeline to collectors, mitigating the devastating impact of COVID-19 and making their long-term operations more efficient too. Here are five reasons why cloud-based collections software is vital in a time of crisis.

Citizens Advice estimates that 4.4% of the population, which potentially equates to around 2.3 million adults in the UK, have missed a council tax payment because of Covid-19. But how should local councils respond to these debts in both the short and long term?

The COVID-19 outbreak has impacted businesses all around the world. And the pandemic has certainly placed a heavy burden when it comes to the delicate relationship between debtor and borrower. We are facing an economic “hibernation”; borrowers preserving cashflows, companies propped up by temporary stimulus packages and support, and a slowdown in debt repayments, as we collectively pursue an ethical approach to debt recovery during these unprecedented time. But what exactly does the Covid-19 pandemic mean for the collections process long term?

While the precise details of the long-term economic impact of the Coronavirus pandemic remain unknown, there are many important measures small business can take in preparation for the likely upcoming world-wide recession.