iManage Conflicts Manager
A Modern Approach to Faster, Trusted Conflicts of Interest Clearance
Managing conflicts of interest is a crucial risk management and compliance concern for legal and financial services firms. Conflict checks are vital to ensure compliance with regulations and ethical guidelines and to avoid negative consequences, such as reputational damage or liability. They are also vital to maintaining client relationships. But most importantly, conflict checks can not only be used preventively for these purposes, but also to increase profitability by extending the revealed insights to other aspects of the business.
iManage Conflicts Manager is a modern conflicts of interest management software for law firms. It is an advanced software application that provides firms with a 360-degree view of both ethical and business conflicts, optimizing loss prevention efforts and increasing revenue.
Today, the data that must be analyzed for potential conflicts has grown exponentially, and law firms find it challenging to maintain, search and analyze a massive amount of information in the shortest time possible. iManage Conflicts Manager supports advanced sorting and filtering that allow for the efficient and comprehensive identification, evaluation and clearance of conflicts, with an auditable track of the process. Powered by advanced search algorithms, the solution enables one single search to deliver results that identify the firm’s prior relationship to any of the searched names and to close name variants. This makes multiple complex queries unnecessary for one check and facilitates the quick analysis of a conflict.
Better information management — without more labor
iManage Conflicts Manager enables firms to improve information management, reduce double data entry and capture key metadata that can be used to speed up ongoing conflict assessment and clearance. It frees up valuable time for attorneys and conflicts of interest teams, adding more time back to billable work for attorneys and freeing up internal teams to focus on high-value work, forsaking the manual-labor, intensive tasks of the past.
Shorter training times and consistently accurate results
Compared to legacy systems where it can take months to train a conflicts analyst, iManage Conflicts Manager condenses training time for conflicts analysts to hours or days, while maintaining consistently accurate results.
Easier tracking of corporate families
Searching corporate families has traditionally been a very onerous and timeconsuming process. With its embedded rules, algorithms and automation, iManage Conflicts Manager can dramatically reduce staff requirements and the time it takes to search corporate structures. Additionally, it can automatically access a variety of data sources and improve the accuracy of the results, integrating with D&B (Dun & Bradstreet), CapIQ (designed by Standard & Poor’s) and Bureau Van Dijk.
Built-in data stewardship and Insights
Keeping business systems updated with the latest information relies heavily on attorney participation, as they hold the knowledge about the firm’s clients and about the work product. Yet, lawyers do not prioritize data entry because providing accurate information is much lower on their priority list than achieving high billability. Nevertheless, they give conflicts of interest solutions their full attention in terms of data entry, as they are ethically obligated to provide this information. Due to this obligation, lawyers enter accurate data in iManage Conflicts Manager, which then seamlessly integrates with the firm’s other business systems. In this way, the conflicts manager becomes one of the best data intelligence systems in the firm and the rich knowledge it provides can offer valuable insights to the firm’s business development teams.