Compare the cost of drafting a contract: traditionally vs. electronically

With all of the wonderful legal platforms available, most firms likely use some sort of legal technology solution in their practice. How couldn’t they? Among the countless benefits of using these technologies is savings—but we’re not only referring to monetary savings. Let’s take a look at all of the savings potential your firm can achieve by automating your attorney workflow.

Operational cost and time savings.

We’ll start with the obvious. Manually printing, scanning, organizing and assembling project documents gets expensive. And it often takes up the most time. Let a deal management platform handle most (if not all) of your administrative tasks! Ditch the printer and scanner and save time, paper, and ink. Plus, there’s no need to visit your clients in person. Your travel time and budget can go down by 100% and you can allocate those savings elsewhere. Ah, just think of how many billable hours per day your firm can save…

Increased productivity.

What will you do with all of your extra time? Close more deals of course! Legal transaction management platforms simplify the deal-making process so you can close deals quickly and efficiently. Execute deals—from start-to-fish—in days, rather than weeks. Your clients will love us because you’ll be able to focus on the things that matter most—negotiating, drafting documents and advocating for them. And at the end of the day, more deals = more revenue for you!

Convenience.

We always say it, but we’ll say it again—the whole deal closing process can be done anytime, anywhere. Check a contract review at home or in the office on your phone or desktop. With just one click, you can notify your clients that documents are ready to sign. The best part? They can instantly sign them wherever, whenever. It’s a win-win for everyone involved!

Organization.

We get it—deals can be hectic. But a deal management platform can help you stay on track. Simply upload your documents to create your project agenda and track your deal’s progress as you go. And now that your desk is clear of stacks of paper, find all of your documents and closing binders in one virtual place. Being organized is not too good to be true!

Collaboration.

Collaborating is easy, we promise. Connect with other lawyers at other firms on one single platform to work seamlessly together on current document versions without any mishaps. And just like in person, you can even collaborate in real-time. Speed up your document production with your tried and true templates and Microsoft Word document assembly—all within a single platform! Also, stay on top of any edits with track changes and comments. Teamwork doesn’t have to be so complicated!

Error detection.

Mistakes happen—we’re only human! Avoid common human errors by leaving the legal proofreading to the system. Now that you’ve said goodbye to administrative tasks, you can also say goodbye to administrative errors that often lead to financial and legal consequences.

Security.

You’re still exchanging confidential documents through insecure couriers and email? A deal management platform sounds like a better, safer option for you. Legal technology solutions are able to go through extensive compliance checks to meet bank-grade security and bank-grade encryption standards. You’ll be able to practice with peace of mind knowing that all deal information is safeguarded from fraudulence, cheating and cyber attacks. Comprehensive audit logs with track changes and comments allow you to detect any document tampering. So long are the days of manipulation and forging!

Now that you’ve weighed the costs, it’s time for you to invest in legal technology. Everyone is! Compare the cost savings for yourself—schedule a demo or try dealcloser today.