Contract Automation – What’s in it for me?

23.11.2017 Find more articles


It can get too much, right? People using buzzwords of legaltech and repeating how nothing will be the same and that everyone should learn new skills, adopt new technologies and start experimenting. And that the train has already left and you kinda missed it.

Well, you’re not alone and you did not miss any train.

You ask, justifiably, how about my own daily work at the office? At times like these, we should focus on user perspective and think and show the concrete benefits technology brings to lawyer’s everyday work. Here’s what we can tell you about contract automation.

You get more done

With contract automation you can eliminate your repetitive manual work that is slow and expensive and let automation take care of it. This saves you time and money. Just think of how much time it takes you to customise a standard contract, discussions with business, looking for latest templates, checking old wordings, typing in details. 2 hours, 3 hours, all afternoon? And how much time it takes on organisation level, combining both yours, account manager’s and possible assistant’s time. Many times one afternoon? By contract automation, in best case, sales assistant can manage the whole process alone, within 15 or 30 minutes. You simply get more done.

You are compliant

When it comes to contracts, the biggest compliance risks are probably related to people themselves. People make mistakes, use wrong templates, use old versions, use common language where legal language is required, don’t know or remember company policy etc. Lawyers cannot and should not be everywhere, to check every document that is sent out and yet you need to be sure that all documents are in compliance with your company policy and regulations. This is where you get help from technology. Once you put the correct language in the contract automation tool, you can be sure that all generated contracts are exactly how you need them to be.  You simply are compliant with your contracts.

You can share knowledge

Lawyers’ biggest asset is in their heads, their knowledge, and that is a challenge in many ways. Somehow you need to ensure that all knowledge of the organisation is available right there and when you need it and not just in one lawyer’s head. What if that lawyer leaves, what if you hire new lawyers, how do you transfer the knowledge? You codify it with technology. You can insert templates, all variables and internal instructions into contract automation tool and have the knowledge available at all times. It gives you both freedom from remembering all details and variants and also enables organisational learning. You simply can share knowledge.

You can Be More

Most of all, technology makes your daily work at the office more fun. When you don’t need to use your time in repetitive manual work you can focus on more challenging work. You can leave the office on time. You simply can be more you.

You get more business

You simply do get more business. Stay tuned for more.

 

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