As technology and client expectations evolve, so too does the Legal Industry. Traditionally, lawyers and legal professionals would spend countless hours researching and drafting contracts or other legal documents. That said, many contracts are extremely similar, with just a few variations. Nowadays, legal professionals can find a wide range of solutions that automate, streamline, and speed-up the entire document lifecycle, saving a ton of time and costs.
The purpose is to automate the repetitive process of building a document from scratch each time you need a new contract.
Document Automation is the process of designing systems and workflows that assist in the creation of electronic documents. This means converting the documents and forms that are used every day into dynamic templates that can be used in the future to facilitate the drafting and preparation of new documents.
More functions include;
Nowadays there are various document management systems and contract lifecycle platforms that offer exactly that, and much more. Some of these solutions integrate with the tools that legal professionals are already using. These include; Microsoft Office, Google Suite, Outlook…etc.
All that said, Law Firms and Legal professionals using legal document automation hold a competitive advantage over those that aren’t; reducing redundancies, improving efficiencies, and providing their clients with a faster and more streamlined service.
Some of the direct benefits of using Document Automation for Legal Practitioners include;
Having pre-defined templates allows users to closely comply with approved business and style rules set by internal or industry authorities. Version Control ensures that all users or systems that produce documents are using the latest, most compliant version. It’s also the best way to establish consistent brand guidelines, such as; paper size, fonts, margins, spacing, etc.
It’s efficient and easy to collaborate on contracts, negotiate clauses, and approve documents in real time, transparently & securely. Clients, today, are tech-savvy and are drawn to firms that are tech-savvy, too. Document automation allows for rapid delivery, involves the client in the process, and provides an overall better experience.
Document Automation tools improve productivity by speeding up the document creation process and automating repetitive work.
When lawyers are forced to create legal documents from scratch – or copy and paste a new document together from other sources – it increases the likelihood for slip-ups or omissions. Document automation eliminates these concerns, producing document templates that are accurate and consistent.
In the end, legally and technically accurate work is the goal. Automation is a proven solution to reduce wasted time & associated costs, and protect your firm against legal issues that stem from inaccurate, non-compliant content. There is no denying that this “trend” is becoming the new norm.
There are a number of things to consider when looking to invest in document automation for your legal practice.
First things first, determine your Budget. It is important to understand exactly how much you are able to invest versus how much you’ll be saving. Make sure to consider additional costs, time, and efforts involved in making the switch. The software you end up choosing to automate your legal documents should integrate well with any other tools and systems that you’re currently using.
That said, it’s essential to choose a software that is easy to set-up and intuitive to use. There’s always a learning curve when it comes to implementing technology, and you’ll have to factor that into your choice of software.
Another very important factor is security. Using cloud-based software, means all the data is hosted on a third-party server. As legal professionals, there’s an ethical obligation to vet the service providers thoroughly. So that classified information doesn’t reach the wrong hands.
This is a quick checklist to get you started on the right foot.
Don’t just think of a legal document management system as a document drafting and storage solution. Think of it as a way to manage documents throughout their entire workflow cycle – from creation to execution.
There is a wealth of credible online data that can help you evaluate available solutions in different ways. You may choose to review marketing collateral, case studies, success stories, how-to videos, client lists, reviews, rankings, and testimonials, etc.
Ask for in-depth Demos for the solutions that you’re interested in. The more prepared you are for these demos, the more of the experience will be tailored to tackle your exact needs and concerns.
Shortlist two or three solutions from your list. These will clearly stand out as covering all your functional needs, including committed support, easy adoption, enterprise-grade security, and the right integrations.
There are initial set-up costs, ongoing charges, sometimes a per-user charge – not to mention technical support fees and update charges. Some may be all-in-one pricing models, while others are modular in their pricing.
App4Legal offers a robust and easy to use contract lifecycle management solution that helps businesses manage their end to end document and contract processes, efficiently and securely. App4legal allows users to;
There are many benefits to using App4Legal Contract Management and Document Automation solution – as opposed to other solutions currently available.
By using App4Legal, users can expect to reduce overall costs by 45% by eliminating case by case and manual reviews, and taking on the labor-intensive work of comparing contracts for consistency, liability risks, and financial boundaries.
Users will also increase contract visibility – streamlining the workflow, and clearly seeing who is working on which projects. Visibility across the contract lifecycle management leads to quicker, and more informed decisions.
All Data is centralized in one place. This means users are able to establish consistent contract storage practices through a defined and searchable central contract repository accessed from anywhere that ensures all your important docs are just a click away.
App4Legal has proven to reduce creation time by 65% with tools to build, customize, and generate error-free contracts in minutes. Users save time and money while reducing the workload and simplifying the process.