Settlement Management is a valuable tool for attorneys and administrators to keep track of their Demands, Offers, and Settlements.
We recommend utilizing this management screen to keep track of pending negotiations. Administrators can also use this screen as a financial pipeline for the firm.
There are six different sections:
- Demands: All demands without offers added on cases
- Offers: All active offers added on cases
- Issues: All accepted offers on cases, in the "settled with issues" status
- Pending: All accepted offers on cases, in the "money pending" status
- Checks In This Month: Deposited checks for all cases in the current month
- Checks In This Year: Deposited checks for all cases in the current year
Some suggested ways to use Settlement Management are:
- Track demand expirations and offer dates to stay on top of the negotiation process.
- Differentiate between accepted offers that are "settled with issues" and "money pending." Use "settled with issues" for cases with a minor's compromise, jury verdicts that will be appealed, or other instances where the money is delayed.
- Track pending payments to ensure settlement checks are received when expected.
- Plan for the future with the projected settlements and fees.
- Track attorney and team performance and identify cases slipping through the cracks.
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