Like everyone in the legal services sector, modern law firms are faced with constant pressure to do more with less. Today’s clients are using digital tools to increase the efficiency of all aspects of their businesses. It’s only natural that their legal counsel must do the same. A key aspect of delivering on this mandate is automating contract management processes.
Precisely was founded by two lawyers who saw that traditional contract management processes were broken and set out to build a solution to fix them. The result was a cloud-based contract automation platform which helps users deliver clear, correct and consistent contracts using a fraction of the time and resources of traditional processes.
The traditional tools used by most lawyers to draft, review and amend contracts have serious limitations — not least a lack of version control and propensity for human-error when editing templates or transferring standardized wording from a clause bank.
Precisely will save you and your team from hours of mind-numbing (and error-prone) copying and pasting. Instead, you can manage the firm’s entire suite of standard form contracts by setting up a database of pre-approved automated templates. This works for all types of contracts, at all levels of complexity.
The platform is also easy to learn and easy to use — with no programming required for setup. So anyone can create compliant and consistent contracts in a matter of minutes.
When you receive instructions to prepare the documents for a new deal or project, one of the first tasks is to gather information and data from the client to populate the key provisions of the relevant contract(s). Usually, this involves a string of back and forth emails with the client seeking their input and nailing down the details. But, what if there was a way to integrate this stage directly into the drafting process?
Using Precisely’s simple, intuitive drafting tools, your clients can self-serve by automatically populating a draft contract through a questionnaire for an associate’s review. Naturally, this vastly reduces turn-around time — keeping the client happy and letting you focus on the more strategic aspects of the deal.
Your clients rely on you to manage their legal affairs with the utmost care and security. Storing their most important legal documents in a binder or filing cabinet in your office no longer cuts it. With Precisely, you will have unlimited storage in a centralized cloud-based repository protected with bank-level encryption and accessible 24/7.
Via an intuitive dashboard, you can review the status of all contracts, upcoming deadlines and action points at a glance. The digital archive is also equipped with smart search and filtering functionality.
This allows you to retrieve documents in an instant and provide timely advice to clients on all manner of contract related issues.