Five Things You Want in Legal Entity Management Software

5 Things You Want in Legal Entity Management Software

There’s no question that entity management is time-consuming and increasingly complex. The amount of information you must track, organize, and manage is daunting for many companies. An entity management system should take the stress of management away — not add more.

The best entity management system puts you in direct control of your entities. It lets you create, manage, and organize your legal entities to give you multi-jurisdiction power. Here are the 5 things to look for when searching for your ideal entity management software company.

1. Security

Security of your entire organization and records is of the utmost importance. With the increase in security breaches throughout the country, you need to know that your information is well protected. Sensitive documentation surrounding legal entity filings must protect the information contained within it.

You should check with any entity management company to see how they will protect your client’s private information. A high-quality corporate entity management company uses high-end security measures like Microsoft Azure Serve Networks for off-site cloud servers. Cloud-based platforms like Filejet give you access anywhere with internet access. This convenience is incredibly important, but so is the security of anything you do on the server.

The best companies invest in protection for your information and your clients. Choose the right entity management software that has your best interests in mind.

2. Automation

What good is corporate entity management if you waste time filing in specific jurisdictions? What if you’re still directly paying fees? Meeting governance and compliance requirements is often a day-to-day hassle. A premier entity management software automates these processes based on your individual needs. Automation reduces and often eliminates the need for manual filing and entity management.

Your company needs a fully automated entity management plan with complete access to the entity management systems. Entity automation gives you powerful tools like:

  • Automatic handling of annual filings
  • Automatic payment of fees
  • Automatic updates on document storage and alerts
  • Automatic notifications on when compliance tasks are due
  • Automatic notifications for other maintenance events

These automatic processes can save you considerable time and simplify entity governance. Your corporate subsidiary data management shouldn’t require a whole department to ensure compliance. By reducing the need for manual filing, you can reduce employment costs and increase efficiency across legal entities. It also helps eliminate missed due dates, compliance mistakes, and other issues that may create legal liability. 

Filejet organizes all your legal entities and jurisdictions to keep track of compliance and help you manage legal entities at scale.

3. Accessibility

In the modern world, accessibility is more important than ever. Your corporate legal departments and all involved parties need access to the platform from anywhere at any time. You need it to handle complex tasks without being complex to use. The right system makes it easy to file for new and existing legal entities.

Filing for New Entities

You can create and form new entities through the Filejet system. The system allows you to choose from a menu of options as you form the new legal entity. You can choose which jurisdiction or jurisdictions you will operate in.

Forming new entities is simple and easy. Our entity management system gives you incredible flexibility to handle your legal entities and clients in any way you choose.

Filing for Existing Entities

Adding existing entities is easy and painless. You can easily add existing parties to our entity management system at any time. The process is similar to creating a new legal entity — it’s simple, accurate, and easy.

Filejet can even assist your corporate legal departments with mass uploads of existing clients. For example, if your business wants to upload thousands of clients to take advantage of the automation and accessibility, you don’t have to do this all yourself. We know how the legal entity management system works and can streamline that process for you.

4. Transparency

You never want to wonder what a corporate entity management company is up to. You want full transparency as to how your data is managed. Filejet increases this transparency by providing regular updates to all necessary parties. You can even invite collaborators to help fill in data gaps, update entity profiles, or make adjustments to your entities. With everyone looped in, all parties have all the information they need to participate in and aid corporate governance.

Some entity management software out there may have certain limitations or specialties. Many fail to openly discuss these limitations and how they may affect your management. You need complete transparency from an entity management company to know what it can do for you.

5. Organization

Bouncing between different systems can be confusing and result in the loss of important information. Going back and forth between different corporate records, emails, or forms can reduce efficiency and result in missed deadlines. These misses can cost you money and turn into potential legal liability.

A well-organized corporate entity management system helps to keep this from happening to you. You can get rid of your outdated systems, aid successful corporate governance, and get access to a comprehensive entity management software that can:

  • Remind you of critical due dates
  • Create automated filing alerts for legal entities
  • Provide consistent records
  • Get Google Calendar integration
  • Use a centralized database for document repository
  • Customize tasks and alerts to fit your needs
  • Invite collaborators to centralize communications

Being organized is one of the most important things you can do for your clients. You need to be fully aware of important details, have easy access to information, and be ready to act at the right time. Partnering with an organized entity management software makes you proactive rather than reactive.

The Best Legal Entity Management Software For You

You want to make sure you have these 5 components in your legal entity management software. Many companies offer bare-bones services for corporate entity management and charge a high premium at the same time. The best entity management software organizes your files and automates how you track the entity lifecycle. You can receive up-to-date information on your clients and alerts when your attention is required.

Filejet is a B2B SaaS platform businesses use to digitize, organize, and automate their Entity Maintenance and Compliance. Our mission is to help entities maintain legal information in the most secure, accessible, and intuitive way possible. Contact us for more information about our services. 

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